ENTH

MD&A



 
 
 

Consolidated Performance Highlights

In 4Q/20, revenues increased 2%QoQ to Baht 3,326.4 million. Shipping, Offshore Service, Agrochemical, and other segments (Food & Beverage and Investment) contributed 36%, 22%, 21%, and 21% to the consolidated revenues, respectively. Gross profits increased 10%QoQ to Baht 932.2 million, due to significantly improved performance of Offshore Service segment. The gross profit margin accordingly increased from 24% in 4Q/19 and 26% in 3Q/20 to 28% in 4Q/20. EBITDA rose 77%QoQ to Baht 585.8 million, and it was almost back to the same level as 4Q/19. Meanwhile, Shipping’s time charter equivalent (TCE) rate has rebounded since June 2020 and averaged at US$ 11,282 per day in 4Q/20. Offshore Service’s performance has significantly improved once the second key vessel sent for drydocking resumed their normal operation in August after the required quarantine; its EBITDA recovered positively and performing vessel utilization reached 93% in 4Q/20. Agrochemical segment continued to be profitable; its net profits to TTA grew 60%QoQ in 4Q/20. In summary, normalized net profits to TTA improved by 216%QoQ to Baht 160.4 million as all core businesses’ operating performance improved QoQ, and net profits to TTA turned positive to Baht 110.1 million in 4Q/20 while there was a net loss to TTA of Baht 1,354.6 million in 3Q/20, primarily from the extraordinary and non-cash loss from the sale of shares in one associate.

Performance Summary

 
FY 2020 Consolidated Results Review Download
2020  
FY 2020 Consolidated Results Review Download
The 2020 Third Quarter Financial Results Download
The 2020 Second Quarter Financial Results Download
The 2020 First Quarter Financial Results Download
2019  
FY 2019 Consolidated Results Review Download
The 2019 Third Quarter Financial Results Download
The 2019 Second Quarter Financial Results Download
The 2019 First Quarter Financial Results Download
2018  
FY 2018 Consolidated Results Review Download
The 2018 Third Quarter Financial Results Download
The 2018 Second Quarter Financial Results Download
The 2018 First Quarter Financial Results Download
2017  
FY 2017 Consolidated Results Review Download
The 2017 Third Quarter Financial Results Download
The 2017 Second Quarter Financial Results Download
The 2017 First Quarter Financial Results Download
2016  
FY 2016 Consolidated Results Review Download
The 2016 Third Quarter Financial Results Download
The 2016 Second Quarter Financial Results Download
The 2016 First Quarter Financial Results Download
2015  
FY 2015 Consolidated Results Review Download
The 2015 Third Quarter Financial Results Download
The 2015 Second Quarter Financial Results Download
The 2015 First Quarter Financial Results Download
2014  
FY 2014 Consolidated Results Review Download
The 2014 Third Quarter Financial Results Download
The 2014 Second Quarter Financial Results Download
The 2014 First Quarter Financial Results Download
2013  
FY 2013 Consolidated Results Review Download
The 2013 Third Quarter Financial Results Download
The 2013 Second Quarter Financial Results Download
The 2013 First Quarter Financial Results Download
2012  
FY 2012 Consolidated Results Review Download
The 2012 Third Quarter Financial Results Download
The 2012 Second Quarter Financial Results Download
The 2012 First Quarter Financial Results Download
2011  
FY 2011 Consolidated Results Review Download
The 2011 Third Quarter Financial Results Download
The 2011 Second Quarter Financial Results Download
The 2011 First Quarter Financial Results Download
2010  
FY 2010 Consolidated Results Review Download
The 2010 Third Quarter Financial Results Download
The 2010 Second Quarter Financial Results Download
The 2010 First Quarter Financial Results Download
2009  
The Yearly 2009 Financial Results Download