PTT Global Chemical Public Company Limited (SET: PTTGC) has announced its 3Q24 consolidated financial statements through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
-19,312.14 | 1,426.67 |
| Earning Per Share (Baht) |
-4.2800 | 0.3200 |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
-18,072.42 | -4,082.29 |
| Earning Per Share (Baht) | -4.0100 | -0.9100 |
PTTGC recorded total sales revenue of Baht 149,431 million, decreased by 11% from Q2/2024, and declined by 7% compared to the same period last year, primarily driven by a decrease in the selling prices of petroleum products, following the decline in crude oil prices.
In addition, the Company recorded extraordinary/uncontrollable items, including stock loss net NRV of Baht 3,912 million, gain from commodity hedging of Baht 280 million, net gain from foreign exchange profit and financial derivatives gain of Baht 2,941 million.
The Company has recognized the effects of this restructuring which includes loss from impairment of assets and provision for restructuring expenses in the Vencorex group amounting to 8,574 million baht.
Additionally, the Company recognized loss from impairment by PTT Asahi Chemical Company Limited, a joint venture in which it holds a 50% stake, amounting to Baht 8,937 million, in accordance with the equity method. After including the impact from the impairment and business restructuring resulted in a reported net loss of Baht 19,312 million for Q3/2024.
