PTT E&P

PTTEP: Solid Earnings Performance Hit by Impairment Loss

Equity Bottom-Up
140 Views, 11 Jan 2022 09:40
EXECUTIVE SUMMARY
  • We expect PTTEP to post a solid 4Q21 net profit of Bt9.7bn (+283% YoY, +2% QoQ).
  • Excluding the impairment loss of US$200m (Mozambique, Yetagun projects), and US$100m gain from reversal of decommissioning expense of Bongkot project, the recurring profit is expected to be Bt13.2bn (+162% YoY)
  • The YoY surge will be from 10% and 27% growth in sales volume and  average product selling price (ASP) respectively.
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Pi Securities PCL, Thailand
Leading, full-service investment firm in Thailand
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Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clie... 

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