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PTT Public Company
PTT Public Company (PTT) investor relations material
PTT Public Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary19 Feb, 2026
Executive summary
Net income for 4Q25 rose 29% quarter-over-quarter to 25,534 MB, with full-year 2025 net income at 90,166 MB, up over 100% year-over-year.
EBITDA for 2025 reached 332,849 MB, a 14% increase year-to-date and 13% quarter-over-quarter.
Revenue for 2025 was 2,662,145 MB, up 16% year-to-date.
Comprehensive financial statements prepared under Thai Financial Reporting Standards, reflecting a diversified business in upstream and downstream petroleum, new business, and sustainability sectors.
The group is a state enterprise with the Ministry of Finance as the largest shareholder and operates globally.
Financial highlights
4Q25 net income (excluding extra items) was 18,847 MB, with extra items contributing 2,557 MB.
EBITDA for 4Q25 was 90,072 MB, up 29% quarter-over-quarter.
Trading business EBITDA surged over 100% year-over-year in 4Q25 to 3,202 MB.
Free cash flow for 2025 was 135,210 MB, with operating cash flow at 299,366 MB.
Cash and cash equivalents as of 31 Dec 2025: Baht 346,817 million (down from Baht 405,139 million in 2024).
Outlook and guidance
Average Dubai crude price expected to decrease from $79.6/bbl in 2024 to $69.4/bbl in 2025.
Pool gas price projected to decline from 309 THB/MMBTU in 2024 to 289 THB/MMBTU in 2025.
HDPE and PX prices are forecasted to decrease year-over-year in 2025.
The group continues to focus on sustainability, decarbonization, and new business opportunities, including electric vehicles, life sciences, and hydrogen technology.
Clean Fuel Project investment increased to Baht 241,472 million, with completion targeted for Q3 2028.
Lotus reclassification gain and fair value impact?
TOP's Clean Fuel Project arbitration status?
Impact of Pillar Two tax rules on Group?
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Next PTT Public Company earnings date
Q1 202620 May, 2026
PTT Public Company
Next PTT Public Company earnings date
Q1 202620 May, 2026
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Frequently asked questions
PTT Public Company Limited is a state-owned energy conglomerate engaged in a wide range of activities across the oil, gas, and petrochemical value chains. The company operates in upstream exploration and production, midstream logistics and gas transmission, and downstream refining, petrochemicals, and marketing. PTT also manages investments in power generation and new energy technologies. Its operations serve both domestic and international markets, with a focus on energy security and infrastructure development. The company is headquartered in Bangkok, Thailand, and its shares are listed on the SET.
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