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Investor Relations
SET Notification
Unreviewed Financial Statements, Management’s Discussion and Analysis for the second quarter of 2017
27 July 2017
PTTEP 13061/00-5847/2017
Investor Relations
Tel. 0-2537-5919, 0-2537-5304, 0-2537-5779
0-2537-4446, 0-2537-4000 ext. 800-7374
Investor Relations
Tel. 0-2537-5919, 0-2537-5304, 0-2537-5779
0-2537-4446, 0-2537-4000 ext. 800-7374
27 July 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 second 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 six months ended 30 June 2017, including English translations
2. Management’s Discussion and Analysis for the second quarter of 2017
1. Unreviewed Financial Statements of PTT Exploration and Production Public Company Limited and Subsidiaries for the period of three months and six months ended 30 June 2017, including English translations
2. Management’s Discussion and Analysis for the second 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 six months ended 30 June 2017 and Management’s Discussion and Analysis for the second 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 information is accurately represented and sufficient for investors.
For the second quarter of 2017, the Company total revenues were USD 1,032 million (equivalent to 35,417 million baht), a decrease of USD 70 million when compared with USD 1,102 million (equivalent to 38,891 million baht) in the second quarter of 2016. The average selling price was increased, in line with global crude prices, from the second quarter of 2016 at 36.62 USD/BOE to 38.08 USD/BOE, while average sales volume for the second quarter of 2017 was at 281,435 BOED, a decrease from the second quarter of 2016 at 320,657 BOED mainly from the planned shutdown activities of the Bongkot and MTJDA project.
In the second quarter of 2017, total expenses were lowered to USD 748 million (equivalent to 25,659 million baht) from USD 975 million (equivalent to 34,397 million baht) in the second quarter of 2016, primarily due to a reduction in depreciation, depletion and amortization expense while the company continues to uphold the cost reduction and efficiency improvement efforts.
Based on the aforementioned, the Company recorded net profit of USD 220 million (equivalent to 7,536 million baht) or earnings per share of USD 0.04 (equivalent to 1.67 baht) compared with net profit of USD 75 million (equivalent to 2,661 million baht) or earnings per share of USD 0.01 (equivalent to 0.44 baht) in the second quarter of 2016.
The financial position of the Company remains solid. As of 30 June 2017, the Company total consolidated assets were USD 18,872 million (equivalent to 641,314 million baht), which includes cash and short-term investments of USD 4,206 million (equivalent to 142,913 million baht). Total liabilities were USD 7,213 million (equivalent to 245,096 million baht), which includes interest-bearing debt of USD 2,874 million (equivalent to 97,665 million baht) and total shareholders’ equities were USD 11,659 million (equivalent to 396,218 million baht).
Sincerely yours,
Somporn Vongvuthipornchai
Somporn Vongvuthipornchai
President and Chief Executive Officer
PTT Exploration and Production Public Company Limited
555/1 Energy Complex Building A, Floors 19-36th
Vibhavadi-Rangsit Rd., Chatuchak, Chatuchak, Bangkok 10900
Vibhavadi-Rangsit Rd., Chatuchak, Chatuchak, Bangkok 10900
Phone : 66 (0) 2537-4000
Fax : 66 (0) 2537-4444
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Copyright © PTT Exploration and Production Plc. All Rights Reserved.