20 February 2015
DETAILS
Year 2014 compared with Year 2013
In 2014,
net income of PTT and its subsidiaries was 55,795 million,
decreasing by Baht 37,296 million or 40.1%
from Baht 93,091 million in 2013.
The main reasons were
the recognition of impairment losses of PTT Group’s assets
totaling Baht 36,707 million in Q4/2014 and
the increase in depreciation and amortization expenses of PTTEP
in accordance with higher production volume
and completed assets. Nonetheless,
these transactions did not affect the cash flow of PTT Group;
therefore,
EBITDA of PTT and its subsidiaries still increased
from the previous year
due to the higher performance of Natural Gas Business.
However, impacts of stock loss and
lower petrochemical spread margins
resulted in the significant decreases of operating results of
petrochemical and refining associates from previous year.
In 2014, sales revenue of PTT and its subsidiaries
was Baht 2,834,732 million, slightly decreasing by
Baht 7,676 million or 0.3%, mainly from
lower average product selling prices of
international trading business
in line with reference crude oil prices.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
