PTT announces 2023 profits of 112 billion, up 23%, sending 78 billion in revenue to the government.

Mr. Athavon Rerkpion, CEO and President of PTT Public Company Limited, revealed the operating results of PTT and its subsidiaries in 2023 with a net profit of 112,024 million baht, representing 3.6% of sales and a growth of 23% over 2022. As a result of increased process efficiency Production. Reducing costs by handing over 78,000 million baht of revenue in 2023 to the state, however, operating profit before depreciation and amortization and financial income tax (EBITDA) decreased mainly from the petrochemical and refining business groups. Resulting in a decrease in the gross profit from refining (Market GRM) and an increase in oil inventory losses, including the operating results of other companies decreased. Most of the profits come from investments in PTT group companies, a company that competes freely both domestically and abroad. Divided into oil exploration and production business 45%, petrochemicals and refining business 9%, and new business, infrastructure and other subsidiaries 17%, it is India's future energy business. and the generic drug production and distribution business in Taiwan, Oil and Retail Business Group 7%, which consists of the oil business and non-oil businesses such as coffee and convenience stores. With profit per revenue of 1%, profit from natural gas and international trade business is 22%.

Mr. Kongkrapan Intarajang, CEO and President of PTT Global Chemical Public Company Limited or GC, revealed that in 2023 GC achieved a net profit of 999 million baht, an increase of 111% over the previous year, and total sales reached 616,635 million baht. A decrease of 9% compared to the adjustment in the prices of petroleum and petrochemical products in each product group. This reflects the economic situation that has not yet recovered from the global recession.

Ms Yupapin Wangwiwat, Executive Vice President and Chief Financial Officer of Gulf Energy Development Public Company Limited or GULF, revealed through the Stock Exchange of Thailand (SET) that the operating results in 2023, there was a profit of 14,858 million baht, an increase of 30% from 2022 with a profit of 11,418 million baht, and total revenues reached 116,951 million baht, an increase of 23%. This growth comes from increased production capacity, including: the opening of commercial operations for the Gulf Pluak Daeng (GPD) power plant project, the DIPWP power plant project in the Sultanate of Oman.