Bangkok--Nov 14--PTT
Amid its business development to become the High Performance Organization via good management and business synergy until being recognized as the Asian Best Managed Company, PTT reported continuous growth in this year third quarter with the net profit of Bt24 billion which helps strengthen Thailand’s business sectors. The earning growth of PTT allows the firm to continuously send its proceeds at the higher rate to the government in terms of tax and dividend payment for more than Bt32 billion (for the 9 months period this year) as well as to move on with its mega investment projects worth more than Bt212.27 billion over the next 5 years in order to bring about higher business value and long-term energy stability.
Mr. Prasert Bunsumpun, President of PTT Public Company Limited (PTT), revealed that in this year third quarter (July-September 2005), PTT and its subsidiaries showed Bt267.45 billion in sales revenue, increased by 54% compared to the same quarter last year. Earning Before Interests, Tax, Depreciation, and Amortization (EBITDA) was Bt33.62 billion or increased by 57%; net profit at Bt24.02 billion, increased by 52%, of which 38% came from the operation of PTT while the remaining 62% from the share of net income from investment under equity method in its subsidiaries. However, in the third quarter this year, PTT’s earning per share was Bt8.59, compared to Bt5.65 in the same period of 2004.
For the nine-month operations from January to September 2005, PTT and its subsidiaries reported Bt684.90 billion in sales revenue or 48% higher than the same period of last year; EBITDA was Bt86.85 billion or increased by 48%; and net profit was Bt68.37 billion or 10% of sales revenue which is equivalent to Bt24.44 earning per share compared to Bt15.07 per share of the previous year. Exclusion of the profit gained from the debt restructuring in Rayong Refining Co., Ltd. of Bt7.74 billion, the net profit will be only at Bt62.96 billion which is equivalent to Bt22.50 earning per share)
As of PTT financial status ended September 2005, PTT’s total assets stood at Bt556.03 billion; shareholders’ equity was Bt237.45 billion; and total liabilities was Bt318.58 billion. Net debt to equity was 0.5:1 which indicated the financial strength of PTT and reflected its investment capability to meet its 2005-2009 investment plan of Bt212.27 billion. Major investment will be large-scale projects of the gas and petrochemical businesses, especially the construction of offshore and onshore pipeline transmission networks such as the 3rd Gas Pipeline Project and Sai Noi — North and South Bangkok Power Plant Pipeline Project. These investment projects will boost transmission capacity from the existing level at 3,430 millions of standard cubic feet per day (MMscfd) to 4,130 and 5,290 MMscfd for the year 2006 and 2008 respectively. PTT’s investment plan also includes the Ethane Separation Plant Project and the Gas Separation Plant Unit 6 Project. The two projects will supply feedstocks to PTT Polyethylene Co., Ltd. (PTTPE). Moreover, the investment plan also includes the mid-stream petrochemical project in PTT Phenol Co., Ltd.
Mr. Prasert added that PTT has played a vital role toward the country’s economic growth. PTT helps create energy stability for Thailand. PTT Group also accounts for 25% of the total market capitalization or equivalent to Bt1.19 billion (as of November 10, 2005). PTT alone has the market capitalization of about Bt621 billion or 12.8% of the total market value. The benefits gained from the business operations of PTT will go to the Thais and the shareholders who are the Ministry of Finance (52.48%) and the government’s Vayupak Fund (15.58%) as well as many local and Thai institutional and individual investors (Information as of July 20, 2005 which was the closing date of PTT shares registered for the extraordinary meeting).
Mr. Prasert said with its management capability and business transparency which focuses on “Good Corporate Governance”, PTT is well recognized both domestically and internationally. PTT was honored “The Asian Top Performer” for the year 2005 by BusinessWeek Magazine. PTT President was also awarded “Thailand’s Best CEO”, and the company was granted “Thailand’s Best Investor Relations” by Institutional Investor’s ranking. PTT is the only Thai firm to rank on the World Top 500 Companies ranked lately by Fortune Global 500. Forbes Magazine also ranked PTT No.425 from the total of 2,000 world’s best companies. Moreover, PTT was awarded “Thailand’s Best Managed Company” by Asia Money, and was recognized as “Asian Best Company” by FinanceAsia for its ranking under the management and corporate governance category. In addition, the Asset Magazine granted “Thailand’s Best Corporate Governance Award” to PTT for its transparent management.
For more information please contact
PTT Corporate Public Relations Department
Tel. 0-2537-2159-60, 0-2537-2163 End.