Bangkok--Mar 1--PTT
Mr. Prasert Bunsumpun, President of PTT Public Company Limited (PTT), revealed that PTT and subsidiaries’ sales revenue in 2005 was increased by 44% to Bt929.72 billion. Earning before interest, tax, depreciation, and amortization (EBITDA) also grew by 44% to Bt114.05 billion, and the net profit from normal operations increased by 28% to Bt80.1 billion (Bt28.63 per share) which equivalent to 8.6% of total revenue. However, the Bt5.42 billion profit gained from the debt restructuring in Rayong Refinery Public Company Limited has helped push up the net profit to Bt85.52 billion or Bt30.57 per share. About Bt52.9 billion or 62% of PTT and subsidiaries’ net profit was from the share of net income from investment under the equity method.
Mr. Prasert said the large portion of the profit will be spent on the firm’s gas businesses in order to prepare for the growing demand. The substantial spending will also be placed on the petrochemical businesses in order to bring about value creation of natural gas. Creating higher value of natural gas through effective management of the energy resources has helped strengthen the Thai economic foundation. In 2006, PTT expects to invest about Bt80 billion, and within the next 5 years (2006-2010), PTT plans to spend Bt238.79 billion totally. Thus, about 30% of the net profit will be paid to the shareholders as dividend payment at Bt9.25 per share. The Finance Ministry, local funds and financial institutions, and domestic retail investors own the combined stake of about 80% in PTT. As of ending 2005, PTT showed the total assets at Bt649.807 billion or 33% higher than 2004; shareholders’ equity at Bt278.433 billion or 51% higher; and total liabilities at Bt371.374 billion or 23% higher. Debt to equity ratio was at 0.5 to 1.
Mr. Prasert added that in 2006, domestic consumption of refined products is expected to grow not more than 1% due to the anticipated high oil prices together with the energy saving program implemented by the government. Meanwhile, demand for natural gas is believed to grow by 7.6%, especially the consumption of natural gas for vehicles (NGV) in the transportation sector. Demand of natural gas in the electricity generating sector is expected to rise by 4%. Demand of petrochemical products is also expected to be higher than the previous year due to the continuity of the country’s economic growth. Amid the continuous uptrend of the economy, the Board of Directors of PTT additionally approved the fund raising plan by Bt50 billion to be used in its 5-year investment.
In 2005, PTT won many awards in various categories from leading institutions both locally and internationally, reflecting the firm’s efficient management. For example, PTT was ranked No.1 by BusinessWeek Magazine as the Asian Best Performer. Fortune Magazine ranked PTT the 373rd from 500 top companies in the world while Forbes Magazine ranked PTT at the 425th from the selected 2,000 world leading companies. PTT also won the Best Performance Award at the SET 2005 Award Presenting Ceremony. In terms of the recognitions in good corporate governance and transparent management, PTT was ranked the best in Thailand by FinanceAsia Magazine, The Asset Magazine as well as from the Stock Exchange of Thailand. In addition, PTT was granted the Best CEO Awards from many institutions such as Asiamoney Magazine, Institutional Investors Magazine, CNBC News Broadcasting, and the Stock Exchange of Thailand. End.