ID :
108080
Tue, 02/23/2010 - 09:29
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http://m.oananews.org//node/108080
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PTT Group enjoys impressive profits in 2009
BANGKOK, Feb 23 (TNA) – PTT Group of Companies reported an impressive performance result in 2009 with substantial profits of some Bt 95 billion, up 74 per cent from last year, according to their consolidated financial statements released on the Stock Exchange of Thailand (SET).
However, total revenue earned by the group dropped by 27.46 per cent to Bt2.31 trillion because oil prices had decreased from a peak of US$147 per barrel in 2008 to an average of $67 per barrel in 2009.
The group projected that fuel prices would edge up to an average of $75-80 per barrel this year.
Of the total profits, Bt59.5 billion are derived from PTT with revenues of Bt1.59 trillion, Bt12 billion from Thai Oil with Bt284.12 billion, Bt9.1 billion from PTT Aromatic and Refinery with Bt255.3 billion, Bt 7.5 billion from Bangchak Petroleum with Bt108.68 billion, and Bt6.8 billion by PTT Chemical
with Bt83.95 billion.
Chainoi Puankosoom, president and chief executive officer of PTTAR, said he projected that this year’s operating result would outperform that of 2009, which showed a net profit of Bt 9.16 billion and earnings before interest, depreciation and amortization (EBIDA) of Bt20.01 billion, because the global economy is tending to pick up and the demand for benzenes and para-xylenes is beginning to improve.
The company forecast its refining margin would stay at around $5 this year. He said the company’s annual production capacity would rise to 280,000 barrels this year from 254,000 barrels.
Mr Chainoi said he believed the aromatics and refinery businesses would continue growing with global economic recovery and the supply decrease. (TNA)
However, total revenue earned by the group dropped by 27.46 per cent to Bt2.31 trillion because oil prices had decreased from a peak of US$147 per barrel in 2008 to an average of $67 per barrel in 2009.
The group projected that fuel prices would edge up to an average of $75-80 per barrel this year.
Of the total profits, Bt59.5 billion are derived from PTT with revenues of Bt1.59 trillion, Bt12 billion from Thai Oil with Bt284.12 billion, Bt9.1 billion from PTT Aromatic and Refinery with Bt255.3 billion, Bt 7.5 billion from Bangchak Petroleum with Bt108.68 billion, and Bt6.8 billion by PTT Chemical
with Bt83.95 billion.
Chainoi Puankosoom, president and chief executive officer of PTTAR, said he projected that this year’s operating result would outperform that of 2009, which showed a net profit of Bt 9.16 billion and earnings before interest, depreciation and amortization (EBIDA) of Bt20.01 billion, because the global economy is tending to pick up and the demand for benzenes and para-xylenes is beginning to improve.
The company forecast its refining margin would stay at around $5 this year. He said the company’s annual production capacity would rise to 280,000 barrels this year from 254,000 barrels.
Mr Chainoi said he believed the aromatics and refinery businesses would continue growing with global economic recovery and the supply decrease. (TNA)
