In today’s briefing:
- PTTEP: Hedging Loss Dragged 1Q22 Net Profit
PTTEP: Hedging Loss Dragged 1Q22 Net Profit
- PTTEP reported 1Q22 net profit of Bt10.5bn(-9.0%YoY, Flat QoQ).Despite significant growth in sales volume and product selling price, the net profit was dragged by a higher hedging loss of US$240m.
- Excluding extraordinary items, the recurring profit stood at Bt18.9bn (+113% YoY, +11% QoQ). YoY surge was underpinned by a 12% sales volume and 27% average product selling price (ASP) growth.
- Positive 2Q22 outlook as we expect the net profit to grow both YoY and QoQ,The gas production commencement from G1/61 and G2/61 projects(Thailand)should aid in a 10% QoQ sales growth.
Before it’s here, it’s on Smartkarma
