Investor Relations

 

PTTEP 13061/00-9534/2018                                                                                  

                                                                                    
Investor Relations                                                                          
Tel. +66(0) 2537 7171, +66(0) 2537 5843

25 October 2018

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 2018

 

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 2018, including English translations
2. Management’s Discussion and Analysis for the third quarter of 2018, including English translations

 

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 2018, and Management’s Discussion and Analysis for the third quarter of 2018 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 third quarter of 2018, the Company’s total revenues were USD 1,398 million (equivalent to 46,091 million baht), an increase of USD 264 million when compared with USD 1,134 million (equivalent to 37,853 million baht) in the third quarter of 2017. Total expenses were USD 980 million (equivalent to 32,281 million baht), a decrease of USD 363 million when compared with USD 1,343 million (equivalent to 44,723 million baht) in the third quarter of 2017.

 

The recurring net income for the third quarter of 2018 were USD 292 million (equivalent to 9,664 million baht), an increase of USD 74 million when compared with the same period of last year at USD 218 million (equivalent to 7,277 million baht). As a result, the Company recorded net profit of 315 million (equivalent to 10,401 million baht) or earnings per share of USD 0.07 (equivalent to 2.50 baht), an increase of more than 100% when compared with 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) in the third quarter of 2017, mainly due to the recognition of impairment loss on asset in the Mariana Oil Sands Project which is in accordance with accounting standards in that period.

 

The financial position of the Company remains solid. As of 30 September 2018, the Company’s total consolidated assets were USD 19,210 million (equivalent to 622,525 million baht), which included cash and short-term investments of USD 3,804 million (equivalent to 123,273 million baht). Total liabilities were USD 7,433 million (equivalent to 240,869 million baht) including interest-bearing debt of USD 1,947 million (equivalent to 63,087 million baht) and total shareholders’ equity were USD 11,777 million (equivalent to 381,656 million baht).

 

Please be informed accordingly.

 

 

Sincerely yours,

 

 

Phongsthorn Thavisin

Chief Executive Officer