PTT Public Company (PTT) investor relations material

Executive summary

• 1Q2026 saw significant global energy market disruption due to Middle East conflict, causing supply losses, price spikes, and operational challenges.

• The group maintained energy security for Thailand by diversifying crude sources, maximizing refinery and petrochemical output, and ensuring uninterrupted gas and LPG supply.

• Net income for 1Q2026 was THB 25,738 million, up 10.4% year-over-year and 0.8% quarter-over-quarter, supported by stock gains and profit enhancement initiatives, despite hedging losses and higher costs.

• Strategic initiatives focused on digital transformation, supply chain, marketing, and financial discipline to support sustainable growth.

Financial highlights

• Revenue reached THB 718,729 million, up 12.6% quarter-over-quarter and 2.6% year-over-year, driven by higher oil prices and increased sales volumes.

• EBITDA (including hedging) was THB 115,879 million, up 49.3% quarter-over-quarter and 22.6% year-over-year, mainly from Petrochemical and Refining.

• Net income rose to THB 25,738 million, a 10.4% increase year-over-year and 0.8% quarter-over-quarter.

• Gross profit margin improved to 23.99% from 11.06% year-over-year; net profit margin rose to 5.79% from 4.54%.

• Earnings per share increased to Baht 0.91, up 12.3% year-over-year.

Outlook and guidance

• 2026 GDP growth forecast: global 3.1%, Thailand 2.0%.

• Oil price (Dubai) expected at $82–92/bbl, Singapore GRM at $12.5–13.5/bbl, HDPE at $1,149–1,249/ton.

• Continued volatility expected in energy markets; focus on energy security, cost competitiveness, and sustainability.

• LNG supply diversification and portfolio flexibility prioritized; normalization of supply now expected by 2028–2029.

• Petrochemical prices projected to trend upward but capped by oversupply and gradual demand recovery.