ENTH

MD&A



 
 
 

Consolidated Performance Highlights

The first quarter is generally low season for all main business segments of TTA. In 1Q/18, revenues were recorded at Baht 3,113.2 million, in line with the results in the same period last year. Shipping, Offshore Service, Agrochemical, and Investment contributed 42%, 18%, 23% and 17% to the consolidated revenues, respectively. Gross profits amounted to 615.1 million, stable YoY. Equity income was also stable YoY at Baht 60.8 million, mainly due to stable profits generated under secured 3-year contracts from an associate under Offshore Service while decreasing 53%QoQ because in 4Q/17 there was an extraordinary profit from one of its associates under Investment. EBITDA was at Baht 206.3 million, decreasing 47%YoY. In conclusion, net profits to TTA amounted to Baht 8.2 million in 1Q/18, which decreased YoY, mainly from loss under Offshore Service caused by the unavailability of two subsea vessels due to dry-docking and lower demand in low season, and decreased QoQ, mainly from seasonality.

Financial Position

As at March 31, 2018, TTA had total assets of Baht 36,017.2 million, increased by Baht 432.4 million from the end of 2017, mainly because of cash proceed from debenture issuance in 1Q/18. Cash under management, comprising cash, cash equivalents, and current investments, remained high at Baht 7,942.5 million. Total liabilities were Baht 11,914.8 million, increased by Baht 1,384.0 million from the end of 2017 primarily due to the issuance of debentures mainly to repay existing debts. Existing debentures of Baht 2,000 million have a maturity date in July 2018. Total equity decreased to Baht 24,102.4 million at the end of 1Q/18, mainly from foreign currency translation differences for foreign operations as Thai Baht strengthened against US Dollar. Strong capital structure of TTA was reflected by low net interest bearing debt to total equity (IBD/E) of 0.07 times.

 
The 2018 First Quarter Financial Results Download
2018  
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