PTT Public Company Limited (SET: PTT) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
108,363.41 | 37,765.81 |
| Earning Per Share (Baht) | 3.79 | 1.32 |
| % Change | 186.94 | |
PTT reported a net profit of Baht 108 billion in 2021, increased 186% from a net profit of Bagt 37 billion in 2020. EBITDA in 2021 reported at Baht 427,956 million, increased by Baht 202,284 million or 89.6% when compared to 2020 of Baht 225,672 million.
The increase was mainly from Petrochemical and Refining businesses which significantly improved from the increase in Accounting GRM, from a loss of US$ 0.4 per barrel in 2020 to gain US$ 5.1 per barrel in 2021. In addition, petrochemical product spreads of both Olefins and Aromatics were increased. Besides, PTT Group had stock gain approximately by Baht 46,000 million in 2021 following the rise of crude oil price, while in 2020, there was stock loss approximately by Baht 19,000 million.
Furthermore, the Exploration and Production business’s performance was enhanced according to the higher sales volume and average selling prices. The performance of the Gas business increased mainly from GSP and S&M businesses due to the higher average selling prices and sales volume. Moreover, the International Trading business’s performance increased from the improved spreads of domestic crude and condensate together with the higher sales volume.
The company stated that there were higher losses on derivatives amounting to Baht 34,224 million and higher loss on foreign exchange rate amounting to Baht 15,739 million together with higher income tax expenses amounting to Baht 42,424 million. In addition, in 2021, there was the loss from non-recurring items (PTT’s portion after tax) amounting to Baht 6,945 million mainly from PTT’s Group impairment loss after tax approximately by Baht 9,000 million from PTTEP, PTT, and GC as aforementioned.
Also, there were PTTEP’s partial write-off of the assets in the exploration project in Brazil approximately by Baht 2,900 million and PTT’s recognition of the return of Take or Pay benefit approximately by Baht 2,700 million. There were PTTEP’s gain on bargain purchase in Oman Block 61 approximately by Baht 7,000 million, PTT’s benefit from discount from production shortfall approximately by Baht 1,700 million, and gain on disposal of gas pipeline business in Egypt of PTTER approximately by Baht 1,400 million.
Meanwhile, in 2020, there was the loss from non-recurring items (PTT’s portion after tax) amounting to Baht 9,478 million mainly from impairment loss on assets of approximately Baht 9,000 million from PTTGM’s coal mining and Exploration and Production Projects of PTTEP.
In addition, the Board of Directors approved a dividend of THB0.80 per share to be paid on 29 April 2022. The ex-dividend date is 3 March 2022.
