ENTH

MD&A



 
 
 

In 4Q/17, revenues increased 14%QoQ to Baht 3,547.2 million. Gross profits were Baht 1,061.0 million, improved 26%YoY and 41%QoQ mainly due to higher frieght rate from Shipping for both YoY and QoQ growth and also from Offshore Service for QoQ growth. There were extraordinary profits from one of its associates under Investment, Therefore, equity income increased 26%YoY and 89%QoQ to Baht 129.5 million. EBITDA was Baht 685.5 million, increasing 11%YoY and 79%QoQ. Accordingly, consolidated net profits to TTA were recorded at Baht 237.3 million, increased 245%YoY and 383%QoQ. The QoQ increase was mainly due to higher utilization rate of vessels under Offshore Service and higher freight rate under Shipping, and the YoY increase resulted from the latter.

In FY17, revenues were recorded at Baht 13,360.1 million, in line with last year result but with improved margin. Shipping, Offshore Service, Agrochemical, and Investment contributed 30%, 37%, 21% and 12% to the consolidated revenues, respectively. Gross profits amounted to 3,425.1 million, which increased 19%YoY. Gross margin also improved from 21% in FY16 to 26% in FY17 because of higher margin from Shipping. However, equity income decreased 39%YoY to Baht 338.4 million, due to the day rate reduction as per the latest contract renewal of an associate company under Offshore Service. Therefore, EBITDA was Baht 2,067.0 million. In FY16, losses from Shipping and non-recurring (non-cash) items primarily from impairment charges and write-offs from Shipping and Offshore Service resulted in net losses to TTA of Baht 418.3 million whilst in FY17, net profits to TTA were recorded at Baht 588.4 million, growing 241%YoY, mainly due to significantly improved frieght rate under Shipping and lower finance costs.

 
FY 2017 Consolidated Results Review 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