This printed article is located at http://www.thoresen.com/mdna.html

MD&A



 
 
 

Consolidated Performance Highlights

In 2Q/19, revenues increased 9%YoY to Baht 3,680.3 million due to increasing revenues of three main business segments: Shipping, Offshore Service, and Agrochemical, which contributed 40%, 21%, and 24% to the consolidated revenues, respectively. Gross profits increased 1%QoQ to Baht 672.0 million, but decreased 11%YoY, mainly from YoY lower margin of Shipping. Share of profits of associates and JVs decreased YoY as there was an additional adjustment of 1Q/18 booked in 2Q/18 in one associate, and there was a share of loss from another associate affected by growing tension in the Middle East. Meanwhile, EBITDA continued positive at Baht 212.9 million. Shipping Segment has consecutively delivered profits since 2017; its TCE rate outperformed the net market TC rate by 16%, though lower YoY. Agrochemical Segment had a profit turnaround from the last quarter as demand has picked up seasonally, and focus marketing strategies were agressively implemented. Under high competitive environment, Offshore Service Segment’s net loss to TTA improved by 25%YoY as vessel working days and vessel utilization rate increased. In addition, strengthening Thai Baht resulted in losses from foreign exchange in 2Q/19, mostly considered unrealized, compared to gains in 2Q/18. In summary, TTA reported a normalized net loss before gain (loss) from foreign exchange of Baht 91.7 million and a consolidated net loss of Baht 174.3 million in 2Q/19.

Performance Summary

 
The 2019 Second Quarter Financial Results Download
2019  
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

Please read our General Disclaimer & Warning carefully.
Use of this Website constitutes acceptance of the Terms of Website Use.
Copyright © 2019. ThaiListedCompany.com. All Rights Reserved.