
Consolidated Performance Highlights
In 3Q/20, revenues increased 10%QoQ to Baht 3,255.6 million. Shipping, Offshore Service, Agrochemical, and other segments contributed 36%, 21%, 24%, and 19% to the consolidated revenues, respectively. Gross profits increased 74%QoQ to Baht 846.4 million because gross profits across all three main segments were improved, especially the turnaround of Offshore Service segment. Gross profits also increased 1%YoY. The gross margin improved from 22% in 3Q/19 and 16% in 2Q/20 to 26% in 3Q/20. EBITDA rose 327%QoQ to Baht 330.1 million, but it decreased YoY because there was the gain from the partial sale of interests in one subsidiary of Baht 283.7 million in 3Q/19. Meanwhile, Shipping’s TCE rate started to rebound since June 2020 and averaged at US$ 11,444 per day in 3Q/20, increasing 52%QoQ and outperforming the net market TC rate by 21%. The Offshore Service’s second vessel sent for drydocking this year in 2Q/20 returned from the quarantine and resumed its normal operation in early August, which helped to bring up performance. Therefore, from August onwards, all three performing vessels have worked at its most utilization on the back of the strong order book. Agrochemical segment also continued to be profitable; its net profits to TTA grew 172%QoQ and 182%YoY in 3Q/20. There were also extraordinary and non-cash losses to TTA of Baht 1,405.2 million, mainly from the sale of shares of an associate in drilling business under Offshore Service. However, this transaction contributed cash of Baht 981.4 million to Offshore Service to increase additional liquidity amid current challenges. In summary, normalized net profits to TTA improved by 120%QoQ to Baht 50.8 million as all three core businesses’ performance improved QoQ, and a net loss to TTA amounted to Baht 1,354.6 million primarily from the extraordinary loss from the sale of shares in such associate in 3Q/20.
Performance Summary

The 2020 Third Quarter Financial Results | Download |
2020 | |
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 |