Home / Knowledge / News / Textiles / PTT Global Chemical EBITDA surges 43% in Q3
PTT Global Chemical EBITDA surges 43% in Q3
Nov '13
In 3Q/2013, PTT Global Chemical Public Company Limited (“the Company”) reported net profit of 9,610 MB or 2.13 Baht/share, an increase of 130% from 2Q/2013 with net profit of 4,172 MB or Baht 0.93 Baht/share, and decreased 25% from 3Q/2012 (restated) with net profit of 12,879 MB or 2.86 Baht/share.

In 3Q/2013, Dubai crude price averaged at 106 USD/BBL, rose from previous quarter by 5 USD/BBL or 6% due to the anticipation of lower supply with concern on unrest in Middle East and North Africa. This caused prices of most petroleum and petrochemical products to rise from previous quarter. Refinery business had a higher spread of petroleum product over Dubai crude price which resulted in an increase in Market GRM to 3.49 USD/BBL from 2.38 USD/BBL from previous quarter.

The CDU utilization rate in 3Q/2013 was 98%. Aromatics Business had gross margin (P2F) of 260 USD/ton, decreased from previous quarter at 325 USD/ton due to lower spreads of paraxylene and benzene over condensate resulted from the ease in supply tightness of paraxylene and benzene. The BTX utilization rate was at 91%.

Olefins business had utilization rate of 75%, down from previous quarter due to the lower feed of natural gas from unplanned shutdown of PTT Public Company Limited’s (“PTT”) GSP#5. Polyethylene utilization rate was at 88% due to unplanned 78-day shutdown of LDPE plant resulting in less excess output of olefins. HDPE price averaged at 1,489 USD/ton for this quarter or increased 3% from previous quarter.

In 3Q/2013, the Company had stock gain (Net NRV) up to 3,768 MB from increasing in crude price during the quarter and Thai Baht depreciation. In addition, the Company realized Oil Spill expenses and its provision of 1,059 MB in this quarter.

As a result of the market situation and business operations mentioned earlier, in this 3Q/2013, the Company reported EBITDA of 16,388 MB, increased from 2Q/2013 by 43% while the EBITDA margin of this quarter was 12%.

Summary of the Company’s major events that had significant impact on the financial statements of 3Q/2013, 3Q/2012, and 2Q/2013 are as follows:

- In 3Q/2012, the purchase price adjustment (PPA) for the investment of NatureWorks and Vencorex on May 31, 2012 was restated.

The valuation of the PPA was completed at the end of 4Q/2012, thus the accounting standard required the Company to realize the adjusted PPA on the investment date, and therefore 3Q/2012 financial statements were restated.

- On January 10, 2013, PTT Utility Company Limited (“PTTUT”) amalgamated with Independent Power (Thailand) Company Limited (“IPT”) and became Global Power Synergy Company Limited (“GPSC”) which diluted the Company’s shareholding portion from 60% to 30.31%.

In this regard, the Company has changed the method of recording transaction from recognition of all revenue & expenses of PTTUT’s profit and loss into the Company’s consolidated financial statement (Consolidation) to realizing only gain/loss of the investment portion in to the Company’s financial statements (Take equity). This method has been applied since 1Q/2013. However, year-on-year comparison is based on different accounting basis

Click here to read full results

PTT Global Chemical

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Apparel/Garments | On 25th Apr 2017

Walmart's Project Gigaton to help reduce emissions

Walmart has launched a sustainability platform called Project Gigaton ...

Courtesy: Arvind

Fashion | On 25th Apr 2017

The Arvind Store launches ready-to-wear brand for men

The Arvind Store has announced the launch of its own ready-to-wear...

Interviews View All

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search