Consolidated Performance Highlights

2021 was a banner year for TTA; its revenues grew 72%YoY to Baht 22,128.1 million, mainly due to the significant growth in most core businesses, especially Shipping. Shipping, Offshore Service, Agrochemical, Food & Beverage, and Investment segments contributed 53%, 16%, 18%, 9%, and 4% to the consolidated revenues, respectively. Cost of sales and providing services(1) increased 49%YoY to Baht 15,121.5 million proportional to higher revenues but with less growth. Thus, gross profits increased 159%YoY and more than doubled from the pre-COVID levels in 2019 to Baht 7,006.6 million from higher revenues and margin. The gross profit margin increased from 20% in 2019 and 21% in 2020 to 32% in 2021 from a much better margin of the Shipping segment as the TCE rate significantly increased while vessel operating expenses (OPEX) maintained below an industry average. Accordingly, EBITDA grew 675%YoY to Baht 5,454.7 million. SG&A maintained YoY. Finance costs slightly increased 1%YoY to Baht 416.0 million as interest-bearing debts increased mainly from the issue of new debentures in 2021, although reference interest rate has been decreased such as LIBOR-3M, which was sharply dropped amid COVID-19 pandemic ranging from 1.90% down to 0.20% in 2020 and between 0.11% and 0.24% in 2021. Besides, there were realized/unrealized gains from foreign exchanges of Baht 130.8 million mainly due to the weakening Thai Baht against US Dollar and net non-recurring losses of Baht 150.1 million mainly due to the allowance for impairment. Meanwhile, Shipping’s time charter equivalent (TCE) rate significantly rose 153%YoY from an average of US$ 9,517 per day in 2020 to US$ 24,074 per day, with gains from both owned and chartered-in vessels. Offshore Service segment’s gross profits turned positive from better margin with a strong order book of US$ 292 million at yearend. Agrochemical segment continued to be profitable; its fertilizer sales volume reached its record high of 224.2 KTons, and its net profits more than tripled from 2019 levels. Therefore, TTA reported historical-high net profits of Baht 3,858.7 million in more than a decade, up 586% and 298% from that in 2019 and 2020, respectively, due to the remarkable growth in Shipping’s freight rate; the net profit margin to TTA increased from 4% in 2019 and -15% in 2020 to 17% in 2021.

Performance Summary

 
The 2021 Yearly Financial Results Download
2023  
FY 2023 Consolidated Results Review Download
The 2023 Third Quarter Financial Results Download
The 2023 Second Quarter Financial Results Download
The 2023 First Quarter Financial Results Download
2022  
FY 2022 Consolidated Results Review Download
The 2022 Third Quarter Financial Results Download
The 2022 Second Quarter Financial Results Download
The 2022 First Quarter Financial Results Download
2021  
FY 2021 Consolidated Results Review Download
The 2021 Third Quarter Financial Results Download
The 2021 Second Quarter Financial Results Download
The 2021 First Quarter Financial Results Download
2020  
FY 2020 Consolidated Results Review Download
The 2020 Third Quarter Financial Results Download
The 2020 Second Quarter Financial Results Download
The 2020 First Quarter Financial Results Download
2019  
FY 2019 Consolidated Results Review Download
The 2019 Third Quarter Financial Results Download
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

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