PTT Public Company (PTT) Investor Presentation summary

Financial performance and key metrics

• 2024 net income declined 20% YoY to 90,072 MB, with revenue at 3,090,453 MB, up 2% YoY; EBITDA rose 7% YoY to 426,895 MB.

• Upstream performance offset petrochemical margin pressure and energy policy impacts.

• Effective cost management, FX volatility reduction, and bond buybacks supported results.

• Free cash flow reached 184,476 MB in 2024; net debt/EBITDA at 1.65x, maintaining strong credit ratings.

• Dividend payout ratio for 2024 was 67%, with a DPS of 2.10 THB.

Business highlights and segment performance

• Upstream: PTTEP sales volume rose 6% YTD; G1/61 reached 800 MMSCFD; international expansion ongoing.

• Downstream: Refinery performance improved QoQ on lower stock loss; petrochemicals faced margin pressure.

• Oil & retail: Higher oil margin per liter and non-oil sales drove improved QoQ results; YTD margin squeezed.

• Power: GPSC net income grew on higher SPP margin and solar/wind expansion; new projects in Taiwan and India.

• Non-hydrocarbon: EV charging points expanded to 2,911; logistics and life science businesses refocused.

Strategic direction and investment

• Strategy centers on energy security, competitiveness, and balanced GHG reduction.

• Net zero by 2050 for PTT and wholly owned subsidiaries (Scope 1+2); group-wide decarbonization initiatives.

• Committed CAPEX for 2025–2029 totals Bt 998 bn (~USD 29 bn), focusing on gas, LNG, renewables, and new businesses.

• Portfolio transformation includes hydrogen, CCS, and bio-based chemicals; asset monetization and ROIC improvement targeted.

• International E&P growth in UAE, Algeria, and Mozambique; renewables expansion in India and Taiwan.