07 Nov 2018 12:52:00
Submission of the Interim Financial Statements for the three-month and nine-month periods ended September 30, 2018 and the Management's Discussion and Analysis (MD&A) of PTT Global Chemical Public Company Limited and its Subsidiaries
(Translation) Ref. No. 16-040/2018 November 7, 2018 Subject: Submission of the Interim Financial Statements for the three-month and nine-month periods ended September 30, 2018 and the Management's Discussion and Analysis (MD&A) of PTT Global Chemical Public Company Limited and its Subsidiaries To: President, The Stock Exchange of Thailand Attachment: 1. A copy of the Interim Financial Statements of PTT Global Chemical Public Company Limited (the "Company") and its Subsidiaries for the three-month and nine-month periods ended September 30, 2018 and reviewed report of certified public accountant, with a copy of English translation 2. Company's and its Subsidiaries performance report (Form F45-3) 3. Management's Discussion and Analysis (MD&A) Q3/2018 of the Company We are pleased to submit the Interim Financial Statements for the three-month and nine-month periods ended September 30, 2018 of the Company and its Subsidiaries, which were audited by our external auditor, KPMG Phoomchai Audit Ltd., and were reviewed by the Company's Audit Committee (details as per Attachment 1 and 2) and hereby prepared management's discussion and analysis (details as per Attachment 3). In Q3/2018, PTT Global Chemical Public Company Limited ("The Company") operating performance had been improving from the previous quarter, generating sales revenue of Baht 136,712 million, increased from Q2/2018 by 6%. The Company reported the Adjusted EBITDA of Baht 16,830 million with the Net Profit of Baht 12,793 million (2.84 Baht/share), increased from Q2/2018 by 6% and 18% respectively. Comparing to Q3/2017, The Company reported an increase in revenue by 31% whereas Adjusted EBITDA and Net Profit escalated by 12% and 29% respectively. For the performance of the Company in 9M/2018, the Net Profit was Baht 36,008 million, increased by 21% from 9M/2017. For Q3/2018, Olefins and Derivatives Business performance has slightly decreased from Q3/2017. For polymer business, the sale volume has increased by having new capacity from LLDPE with 400,000 ton per annum which started commercial operation since March 2018 and realized additional depreciation since then, which effect to bottom line of this business to be decreased. Meanwhile, Ethylene Oxide business has effect from increasing of feedstock cost. By comparing with Q2/2018, Olefins and Derivatives Business performance has slightly decreased because of reducing in polyethylene price and reducing in selling volume of ethylene, which effect from schedule maintenance of plant Olefins 1 For Aromatics Business, the operating performances had increased significantly from Q2/2018, mainly contributing from higher Paraxylene spread over Condensate and increase in sales volume which resulted from planned maintenance shutdown to improve production efficiency last year. Petroleum Business had declined from Q3/2017 as a result of a decline in product spread, however, it had been improved from Q2/2018 from a better product spread, particularly from Fuel oil. For the Share of Profit from Investments (attributable to Owners of the Company), it had significantly increased from a better performance in Acrylonitrile (AN) and PVC Businesses, together with a better performance in Bioplastics Business through NatureWorks LLC in United States. Please be informed accordingly. Sincerely yours, (Ms. Duangkamol Settanung) Executive Vice President - Finance and Accounting ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.