ENTH

MD&A



 
 
 

Consolidated Performance Highlights

In 3Q/18, revenues were recorded at Baht 3,544.4 million, increasing 14%YoY and 5%QoQ. Shipping, Offshore Service, Agrochemical, and Investment Segments contributed 37%, 27%, 20% and 16% to the consolidated revenues, respectively. Accordingly, gross profits amounted to Baht 944.2 million, increasing 25%YoY and 25%QoQ. Gross margin improved from 24% in 3Q/17 to 27% in 3Q/18. Share of profit of associates and JVs increased 31%YoY to Baht 89.8 million, primarily due to the adjustment of internal bareboat charter rate for drilling business under its associate. EBITDA was at Baht 545.0 million, increasing 42%YoY and 36%QoQ. As Shipping continued to deliver satisfied performance and Offshore Service made better margin from higher vessel utilization rate, TTA reported consolidated net profits of Baht 148.3 million, which increased 202%YoY and 57%QoQ in 3Q/18.

Financial Position

As at September 30, 2018, TTA had total assets of Baht 35,972.9 million, increasing Baht 388.1 million or 1% from the end of 2017. Cash under management, which combines cash, cash equivalents, and current investments, remained high at Baht 5,142.9 million. Total liabilities increased by Baht 563.1 million or 5% to Baht 11,093.9 million from the end of 2017. Current liabilities decreased by Baht 1,782.2 million mainly from repaying debentures at maturity in July 2018 while non-current liabilities increased by Baht 2,345.4 million mainly from the issuance of new debentures in March 2018 and increased long-term borrowings to fund vessels acquired in 2018. Total equity decreased by 1% to Baht 24,878.9 million, mainly from net effects of an increase in net profits, paid dividend, and a decrease in foreign currency translation for foreign operations as Thai Baht strengthened against US Dollar. In May 2018, TTA paid a dividend of Baht 0.075 per share or Baht 136.7 million in total for 2017 performance. Capital structure remained strong and was reflected by low net interest bearing debt to total equity (IBD/E) of 0.13 times.

 
The 2018 Third Quarter Financial Results Download
2018  
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