Consolidated Performance Highlights

In 3Q/19, revenues were recorded at Baht 3,887.5 million, increasing 10%YoY and 6%QoQ. Shipping, Offshore Service, Agrochemical, and Investment Segments contributed 46%, 21%, 17% and 16% to the consolidated revenues, respectively. Gross profits increased 20%QoQ to Baht 803.5 million, but it decreased 15%YoY, mainly from lower contribution of Offshore Service Segment. Share of profits of associates and JVs increased 140%QoQ to Baht 69.1 million mainly because there was significantly improved share of profits from one associate because of higher demand for port services benefiting from the development of a megaproject. In addition, there was a gain from the partial sale of interests in one subsidiary of Baht 283.7 million. Therefore, EBITDA increased 26%YoY and 223%QoQ to Baht 688.0 million. Major extraordinary item in this quarter was the recognition of fair value of TTA’s interests in one subsidiary as a joint venture of Baht 417.9 million associated with the transaction of the partial sale of interests in such company. Meanwhile, Shipping Segment has continually delivered satisfactory performance; its TCE rate reached US$ 12,180 per day, outperforming the net market TC rate. Agrochemical Segment had continue to be profitable and maintained its market position in an effort to increase key high-margin products. Under high competitive environment, Offshore Service Segment contributed a net loss to TTA; however, its order book at end-quarter reached US$ 210 million for the first time since late 2016. In summary, TTA reported consolidated net profits of Baht 652.8 million, which improved 340%YoY in 3Q/19.

Performance Summary