PTT's half-year profit was 64 billion baht, a 34% growth

As of 20 2024 – Mr. After Kongraban Indarajang, CEO and Chairman of PTT Public Company Limited, informed the Stock Exchange of Thailand (SET) that the operating results for the second quarter of 2024 achieved a profit of 35,469 million baht, an increase of 76.4% over the same period in 2023. Profit was 20,107 million baht, 64,437 million baht in the first half of the year, 16,475 million baht or 34.4% over the same period last year, net profit was 47,962 million baht. Depreciation and amortization finance costs and income tax (EBITDA) of 115,334 million baht, an increase of 22,709 million baht or 24.5%, combined with the recognition of non-recurring items in the first half of the year, net of PTT's proportionate tax was a profit of approximately 10,000 million baht.

“Over the past half-year, operating results from the exploration and production business group grew. and refining margins and profits of petrochemical business group oil stocks increased. There are also special products that increase profits. 92% of the profit from hydrocarbon business and 8% from non-hydrocarbon business is earned by the board of directors. Resolved to approve the payment of interim dividend. For the operating results of the first half of 2024, the income tax of 0.80 baht per share, combined with PTT and its subsidiaries, brings a total of 35,684 million baht to the government,” said Mr. Kongarapan said.

However, further business activities of PTT should consider non-hydrocarbon group by evaluating 2 angles: 1. Business should be interesting. 2. Have developable strengths and strong partners. There are investment guidelines for the following 3 groups: 1. EV, PTT related business will focus on electric vehicle charging business (charging stations) and various brands will be incorporated under PTT Group (Arun Plus Co., Ltd., Horizon Plus Co., Ltd.). , EV Me Plus Co., Ltd.) and benefit from the OR Eco system available nationwide. 2. Logistics Business: Focused on businesses related to PTT's core business and high demand business: PTT must be financially self-sufficient Innobik (Asia) Company Limited will continue to seek partners. There is also a possibility of an IPO on the Stock Exchange of Thailand (SET) to expand the business.

“Decisions related to pharmaceutical business should not be taken hastily. Because they saw it as a group that was struggling to move forward with PTT's work and it had to be responsible and we had to pivot and let him find a partner. We will only finance it. It should be understood that Inobic has a very different business model from PTT. If you want to grow, you need a partner. Finding a partner depends on negotiations. If you come already, you have to see if you will get profit. Even if you invest, you will not keep the same amount as before as per PTT policies. New capital is coming,” said Mr. Kongarapan said.

Currently, PTT has 2 core businesses: Hydrocarbon Business and Non-Hydrocarbon Business Although PTT's core business, hydrocarbon business, is doing well, it cannot do as it used to. This should be done in conjunction with reducing greenhouse gases. And be ready to adapt and adapt to a rapidly changing environment. A competitive cost with partners is helping to strengthen the country's energy security, including pushing for the development of the overlapping maritime area between Thailand and Cambodia (OCA). As for the power generation business, it needs to build reliability and reduce carbon for the PTT group. Meanwhile, along with partners, the oil and retail businesses should be mobility partners for the Thai people. Maintain market leadership

Additionally, Mr. PTT has plans to create ESG balance. Kongarapan said. The system must be relevant to reduce greenhouse gases and push hydrogen-related businesses to achieve the net zero goal. Implementation of the Carbon Dioxide Capture and Storage (CCS) program requires clear roles and responsibilities by working in coordination with the entire PTT team. And have a common goal of leveraging each company's strengths to gain greater advantage across the group, PTT looks at the overall picture

“Based on the investment limits as per the new strategy, 1-year and 5-year periods (2025-72), there will be an official summary by the end of this year. Every business has a clear investment budget, while this year's investment budget of about 25,000 million is still on schedule. As for whether the profit will reach 100,000 million baht like last year, we don't need to follow up again,” said Mr. Kongarapan.