ENTH

MD&A



 
 
 

In 2Q/17, total revenues remained flat YoY at Baht 3,597.0 million, which MML, TSG and PMTA contributed 42%, 26% and 22%, respectively, while gross profit was Baht 974.2 million, up 21% YoY primarily due to higher frieght rate. Although equity income decreased 55% YoY to Baht 70.7 million, mainly due to the day rate reduction as per latest contract renewal under one of its associates, EBITDA was Baht 611.9 million, increasing 12% YoY. Accordingly, consolidated net profit to TTA was recorded at Baht 214.7 million, increased 801% YoY.

On QoQ basis, total revenues rose 16% as most of its businesses have picked up from their low quarter in 1Q/17 to the seasonal growth in 2Q/17. Gross profit rose 53% QoQ mainly from improved TCE rates for TSG, higher utilization rate of subsea-vessel services for MML, and higher sale volume of fertilizer for PMTA. Equity income remained stable at Baht 70.7 million. Thus, EBITDA and net profit to TTA improved 58% and 146% QoQ, respectively.

 
*Restated
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