Consolidated Performance Highlights

In 4Q/19, revenues increased 7%QoQ and 6%YoY to Baht 4,153.5 million. Shipping and Offshore Service Segments remained major contributors and accounted for 64-65% of the consolidated revenues. Gross profits increased 27%QoQ and 32%YoY to Baht 1,021.5 million due to better core performance across all segments. Accordingly, gross margin improved from 20% in 4Q/18 to 25% in 4Q/19. EBITDA increased 120%YoY to Baht 674.5 million. Meanwhile losses from non-recurring items in this quarter amounted to Baht 152.8 million, mainly from the allowance for bad debts and impairment of 2 cold-stacked subsea vessels under Offshore Service Segment. In summary, normalized net profits to TTA grew 1013%YoY to Baht 271.2 million and net profits to TTA grew 533%YoY to Baht 176.0 million in 4Q/19.

Performance Summary