Investor Relations

 

PTTEP 13061/00-5785/2018                                                                                   

 

26 July 2018

 

President

The Stock Exchange of Thailand

93 Ratchadapisek Road, Din Daeng

Bangkok 10400

 

Dear Sir,

 

Subject:           Unreviewed Financial Statements, Management Discussion and Analysis for the second 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 six months ended 30 June 2018, including English translations
2. Management Discussion and Analysis for the second 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 six months ended 30 June 2018 and Management Discussion and Analysis for the second 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 information is accurately represented and sufficient for investors.

 

For the second quarter of 2018, the Company total revenues were USD 1,347 million (equivalent to 43,032 million baht), an increase of USD 315 million when compared with USD 1,032 million (equivalent to 35,417 million baht) in the second quarter of 2017. Total expenses were USD 908 million (equivalent to 28,968 million baht), an increase of USD 160 million when compared with USD 748 million (equivalent to 25,659 million baht) in the second quarter of 2017.

The Company recorded net profit of USD 113 million (equivalent to 3,590 million baht) or earnings per share of USD 0.03 (equivalent to 0.83 baht), decreased by 49% from 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) in the second quarter of 2017.

 

For the second quarter of 2018, the Company recorded recurring net income of USD 336 million (equivalent to 10,774 million baht), an increase by more than 100% when compared with recurring net income of USD 167 million (equivalent to 5,717 million baht) in the second quarter of 2017. However, the Company incurred loss from non-recurring items in this quarter of USD 223 million (equivalent to 7,184 million baht), a decrease by more than 100% when compared with gain on non-recurring items of USD 53 million (equivalent to 1,819 million baht) in the second quarter of 2017, largely driven by losses and tax expenses owing to the depreciated Thai Baht relative to the US Dollar during the quarter which mainly has no impact to cash flow of the Company.

 

The financial position of the Company remains solid. As of 30 June 2018, the Company’s total consolidated assets were USD 19,403 million (equivalent to 643,546 million baht), which included cash and short-term investments of USD 3,421 million (equivalent to 113,461 million baht). Total liabilities were USD 7,724 million (equivalent to 256,188 million baht) including interest-bearing debt of USD 2,252 million (equivalent to 74,696 million baht) and total shareholders’ equities were USD 11,679 million (equivalent to 387,358 million baht).

 

 

Sincerely yours,

 

 

Somporn Vongvuthipornchai

Chief Executive Officer