Investor Relations

 

PTTEP 13061/00-8846/2017                                                                                   


Investor Relations Tel. 0-2537-5919, 0-2537-5304, 0-2537-5779ม 0-2537-4446, 0-2537-4000 ext. 800-7374

2 November 2017

President

The Stock Exchange of Thailand

93 Ratchadapisek Road, Din Daeng

Bangkok 10400

 

Dear Sir,

 

Subject:           Unreviewed Financial Statements, Management’s Discussion and Analysis for the third quarter of 2017

 

Attachment:   
1. Unreviewed Financial Statements of PTT Exploration and Production Public Company Limited and Subsidiaries for the period of three months and nine months ended 30 September 2017, including English translations
2. Management’s Discussion and Analysis for the third quarter of 2017

 

PTT Exploration and Production Public Company Limited, or PTTEP, would like to submit Unreviewed Financial Statements of PTTEP and its subsidiaries (the Company) for the period of three months and nine months ended 30 September 2017, and Management’s Discussion and Analysis for the third quarter of 2017 as per attachment 1 and 2. These attached financial statements have already been approved by the Audit Committee on the basis that the information is accurately represented and sufficient for investors.

 

For the nine-month period of 2017, the Company’s total revenues were USD 3,252 million (equivalent to 111,430 million baht), a decrease of USD 29 million or 1% when compared with USD 3,281 million (equivalent to 115,705 million baht) in the nine-month period of 2016. Total expenses were USD 2,839 million (equivalent to 96,631 million baht), an increase of USD 89 million or 3% when compared with USD 2,750 million (equivalent to 96,949 million baht) in the same period of last year.

 

The recurring net profit for the nine-month period of 2017 were USD 596 million (equivalent to approximately 20,431 million baht), an increase of USD 251 million or 73% when compared with the same period of last year at USD 345 million (equivalent to approximately 12,219 million baht), and losses from non-recurring items of USD 291 million (equivalent to approximately 9,293 million baht) mainly as a result of the recognition of impairment loss on asset in the Mariana Oil Sands Project which is in accordance with accounting standards, and does not impact the Company’s cash on hand and cash flows. As a result, the Company recorded net profit of 305 million (equivalent to 11,138 million baht) or earnings per share of USD 0.06 (equivalent to 2.26 baht), a decrease of USD 83 million or 21% when compared with the net profit of USD 388 million (equivalent to 13,732 million baht) or earnings per share of USD 0.09 (equivalent to 3.13 baht).

 

For the third quarter of 2017, the Company’s total revenues were USD 1,134 million (equivalent to 37,853 million baht), while total expenses were USD 1,343 million (equivalent to 44,723 million baht). Recurring net profit were USD 218 million (equivalent to approximately 7,278 million baht), an increase of USD 143 million or more than 100% when compared with the third quarter of 2016 at USD 75 million (equivalent to approximately 2,603 million baht), and losses from non-recurring items of USD 482 million (equivalent to approximately 15,960 million baht) mainly as a result of the recognition of impairment loss on asset in the Mariana Oil Sands Project. As a result, the Company recorded net losses of USD 264 million (equivalent to 8,682 million baht) or loss per share of USD 0.07 (equivalent to 2.42 baht) compared with net profit of USD 156 million (equivalent to 5,446 million baht) or earnings per share of USD 0.04 (equivalent to 1.33 baht) in the third quarter of 2016.

 

The Company’s total consolidated assets, as of 30 September 2017 were USD 18,616 million (equivalent to 621,204 million baht), total liabilities were USD 7,387 million (equivalent to 246,499 million baht), and total shareholders’ equity were USD 11,229 million (equivalent to 374,705 million baht). The Company had cash and cash equivalents, including short-term investment, of USD 4,055 million (equivalent to 135,315 million baht).

 

Please be informed accordingly.

 

 

Sincerely yours,

 

 

Somporn Vongvuthipornchai

Chief Executive Officer