Powering life with Future Energy and Beyond
Trading Business:
QoQ: Soften EBITDA due to lower gross margin despite increased sales volume
2021 vs 2020 : Enhanced EBITDA mainly due to improved domestic condensate margin and sales volume
Gross Margin¹
Unit: THB/Liter
44% QoQ
44 YoY
43%
Sales Volume²
Unit: MM Liter
44% QoQ
5%
91% YoY
I
I
75,527
79,134
0.10
0.09
0.09
36,235
0.07
25,082
0.05
18,922
Trading - EBITDA³
Unit: MMTHB
16% QoQ
7% YoY
I
3,024
1,449
1,138
1,219
1Q21
4Q21
1Q22
2020
2021
Key Highlights
80%
૨૦૦
ptt
5,436
Margin decreased due to significantly loss from mark to market in 1Q22
following upward oil price trend
+ Increased sales vol. from higher crude as well as LNG import to fulfill lower gulf
gas supply
-
EBITDA dropped following lower gross margin
2021 vs 2020
+ Higher gross margin mainly from domestic condensate as well as out-out
trading products e.g., LNG, LPG, and Aromatics
+ Volume increased due to global demand recovery from the easing of lockdown
+ EBITDA improved from higher gross margin and sales volume
1Q21
4Q21
1Q22
2020
2021
1 PTT Trading BU + trading subsidiaries: FX Adjusted + gain/loss on derivatives + Joint Trade Agreement (JTA)
2 PTT Trading BU + trading subsidiaries +JTA
3 PTT Trading BU + trading subsidiaries: FX Adjusted + gain/loss on derivatives
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