PTT Public Company (PTT) Investor Presentation summary

Business overview and strategic positioning

• Maintains a leading role in Thailand's energy sector with integrated operations across oil, gas, power, and petrochemicals, supported by robust infrastructure and a diversified portfolio.

• Holds a majority market share in refining, petrochemicals, and oil retail, with significant international expansion in E&P and renewables.

• Recognized for strong financial performance, high credit ratings, and consistent growth since IPO.

• Committed to sustainability, with a net zero target by 2050 and ongoing ESG initiatives.

• Receives international accolades for corporate governance, sustainability, and innovation.

2024 financial and operational performance

• 2024 revenue reached 3,090,453 MB, up 2% YoY, with net income at 90,072 MB, down 20% YoY due to lower petrochemical spreads and energy policy impacts.

• Upstream (E&P) performance improved, offsetting downstream and petrochemical margin pressures.

• Effective cost management, divestment gains, and bond buybacks helped mitigate external volatility.

• Free cash flow remained strong at 373,240 MB, supporting a healthy financial position and dividend payout.

• Maintained a net debt/EBITDA ratio of 1.65 and net debt/equity of 0.40, with high liquidity and sovereign-level credit ratings.

Segment highlights

• E&P: Sales volume increased 6% YTD, with new production from G1/61 and international assets; net income rose 1% YTD.

• Gas: Stable supply and transmission, but EBITDA dropped YTD due to higher feed costs from the Single Pool Gas Price policy.

• Trading: Lower EBITDA from narrowed product spreads, but higher sales volume from expanded Asian customer base.

• Oil & Retail: Oil margins squeezed, but non-oil business grew through outlet expansion and higher sales.

• Petrochemicals & Refining: Refinery performance weakened by lower GRM and higher stock loss, while petrochemicals saw improved spreads in some products.

• Power: GPSC delivered higher net income from increased SPP margins and new renewable projects.