PTT aims to expand core businesses Step into a new business Clean Energy – Life Sciences Prepare a five-year investment budget of more than 8.5 billion baht to stimulate the economy. Never fear, net profit in year 20 shrink 59.4%.
On February 18, 2021, Mr. Attapol Rerkpiboon, Chief Executive Officer and President of PTT Public Company Limited (PTT), announced the operating results for the fourth quarter of 2020 (4Q2020) and 2020. 4 Year 2020 PTT and its subsidiaries have operating profit before depreciation and amortization. Financial cost And income tax (EBITDA) of 71,614 million baht, an increase of 4,149 million baht or 6.1 percent in the previous quarter.
This is mainly due to the better performance of the petrochemical and refining business groups. In particular, the petrochemical business has been supported by growing demand following the overall economic recovery and economic stimulus policies of many countries. Including changing consumer behavior with emphasis on hygiene Home work And travel by private car Natural Gas Business Group There was a better performance from the gas separation plant business. This was due to the lower cost of gasification and the increase in average selling prices of all products according to the reference petrochemical prices in the world market.
Performance of petroleum exploration and production business decreased in line with the lower average selling price. Although the sales volume will increase
The net profit of PTT and its subsidiaries in 4Q2020 had a net profit of 13,147 million baht, a decrease of 973 million baht or 6.9 percent from the previous quarter.
For operating results for the year 2020, PTT and its subsidiaries had EBITDA of 225,672 million baht, a decrease of 63,300 million baht or 21.9 percent in 2019, mainly due to the petroleum exploration and production business, whose operating results decreased accordingly. Decreased average selling price In addition, the operating performance of the petrochemical and refining business sector significantly dropped. This was mainly due to the gross refining loss, the impact of oil stocks in 2020 following a sharp drop in crude oil prices from the end of 2019 at $ 67.3 / barrel to $ 51.1 / barrel at the end of 2020.
In addition, the natural gas business group has reduced operating performance. Mainly from the gas separation plant business This was due to the decline in sales prices following the declining global petrochemical prices and lower sales volumes from the impact of COVID-19 and following maintenance shutdowns and production cuts to suit customer demand in 2020.
However, the performance of Technology and Engineering Group improved from the acquisition of GPSC’s GLOW at the end of the first quarter of 2019, resulting in PTT and its subsidiaries in 2020 net profit of 37,766 million baht, a decrease of 55,185 million baht or percent. 59.4 from in 2019
“I believe that the Thai economy in 2021 will recover under 3 conditions: it is not fast and it will take time to recover as in 2019, not thoroughly because the recovery in each business sector will not be equal. Uncertainty From the situation of disease control and vaccine against COVID-19 by PTT, ready to drive with energy strengthening Enhance competitiveness And developing innovative technologies to improve the quality of life of Thai people to grow together According to the concept of ‘Powering Thailand’s Transformation’, ”said Athaphon.
As for the 5-Year Enterprise Plan (2021-2025), PTT Group plans to invest in the total amount of 850,573 million baht (excluding projects that are currently in the process of investing or seeking investment opportunities) to invest in. Main business such as Gas Separation Plant Unit 7 to replace Gas Separation Plant Unit 1, Onshore Gas Pipeline Project Line 5, Expansion of Capabilities of the 2nd LNG Receiving Terminal (Nong Fab) and Map Ta Phut Industrial Port Development Project, Phase 3 3
In addition, it has prepared a Provisional Capital Expenditure for the next 5 years of 804,202 million baht for the expansion of investment in the LNG Value Chain business both domestically and internationally. And the connection between the natural gas business to the power generation business (Gas-to-Power) Electricity Value Chain Renewable Energy Business and Energy Technology To reduce greenhouse gas emissions Including moving into new business
In the life science group for health security of Thai people By setting up Innobic (Asia) Company Limited on November 18, 2020, in accordance with the sustainability management strategy in 3 dimensions: Environmental, Social, and Governance to create a balance in Responding to the needs and expectations of our stakeholders in a concrete manner.
“Throughout 2020, PTT Group has joined alongside Thai people. To step through the situation of the COVID-19 virus spreading forward with the Restart Thailand project to create jobs, earn money and build professional skills. Through employing more than 25,000 vocational workers and students in all regions, and supporting a budget of 851 million baht to supply and distribute alcohol gels. Developed a screening kit for COVID-19 supporting medical devices. Support PTT Group products to encourage medical personnel, etc. “
In addition, the long-term target value of PTT Group’s emission control in 2030 was reviewed by reducing emissions from 20% to 27%, compared with operational greenhouse gas emissions. Normal work Including the use of the carbon price mechanism in considering investment in projects that reduce greenhouse gas emissions in PTT’s business operations, both directly and indirectly (GHG Scope 1 and 2)
Recently, PTT Group has a new flagship oil and retail company, PTT Oil and Retail Public Company Limited (OR), which has raised funds in the Stock Exchange of Thailand. And received a good response from domestic investors.
–
