PTT Continues to Invest with Aim of Giving Breath to Thailand’s Economy amid Recession

The good 1H21 performance enable PTT to spend THB 1.7 billion to assist Thailand on curbing COVID-19 as “We are All Sharing the Same Breath."

The performance in first half of 2021 enable PTT Group to spend THB 1.7 Billion to assist Thailand on curbing COVID-19 as “We are All Sharing the Same Breath” while enhancing Thai people and society in accordance with the new vision “Powering life with future energy and beyond”                

Mr. Auttapol Rerkpiboon, President & Chief Executive Officer, PTT Public Company Limited (PTT), has announced PTT and its subsidiaries’ sales revenue in the first half of 2021 at Baht 1,011,093 Million, increased by Baht 186,201 Million or 23%, compared with the same period of the last year. This was mainly from almost all business and especially from international trading business and the Petrochemical and Refining businesses. As the economic activities are recovering, the selling prices and sales volume show higher figures. 

Meanwhile, Earning before Interest, Tax, Depreciation and Amortization (EBITDA) was Baht 216,163 Million, rose by Baht 129,570 Million or over 100%, according to the increase from stock gain improved by the surge of crude oil price. Therefore, PTT Group positively announced the net profit in the first half of this year at Baht 57,166 Million, grew by Baht 46,667 Million or over 100%.

Despite Thailand’s economic recession, PTT Group has been continuing to invest with an aim to give breath to the national economy with the five-year capital expenditure (2021 – 2025) at Baht 865 Billion, excluding pending projects. Furthermore, PTT Group has prepared the Provisional Capital Expenditure for the next five years at Baht 784 Billion in accordance with the new vision Powering Life with Future Energy and beyond. 

The new strategic direction has shaped the investment into the development toward Low Carbon Society, the promotion of regional LNG hubs, the growth expedition of future energy, the expansion to power business, and the acceleration to EV value chain. PTT Group will also seek investment opportunities in potential businesses such as high value business in the Petrochemical and Refining businesses, mobility & lifestyles to expand oil & retail business, and Life Science (including pharmaceutical, nutrition, and medical technology) through partnership. 

Regarding PTT’s commitment to enhance Thai society, the company put all its effort into tackling the COVID-19 outbreak by setting up “Giving Breath Project.”  Under the name of this project, PTT Group has donated over 400 ventilators and high-flow nasal oxygen devices to 300 hospitals nationwide so far. 

A helping fund has also been allocated to purchase medical equipment to be used in 7 field-hospitals, along with the Mobile vaccine units that have been set up in 4 critical and risky areas. The assistance also included an import and procurement of Remdesivir, donated to the state agencies, and the expansion on LPG price reduction period to the end of this year for low-income hawker stalls holding social welfare cards. 

PTT Group recently set up Covid-19 Screening Unit and the Field Hospitals (End-to-End), which is an operation model where the business sector collaborates with the public sector. Overall, PTT Group has contributed over 1,700 Million THB to support all affected medical workers and to relieve problems which were caused by the pandemic nationwide.

PTT Group will strive to assist in any way we can to all medical sectors to fight the COVID-19 pandemic, believing that “we are all sharing the same breath.”

Back to top button