PTT Exploration and Production Public Company (PTTEP) Q3 2025 earnings summary

Executive summary

• Achieved key acquisitions and project milestones, including Sinphuhorm, MTJDA A18, and Algeria Touat, boosting sales volume and reserves.

• Advanced decarbonization with Thailand's first offshore CCS project (Arthit CCS), targeting significant GHG reduction.

• Maintained robust international growth, with new FIDs and production targets in Algeria, UAE, Malaysia, and Mozambique.

• Total revenues for Q3 2025 were $2,234 million, with net profit attributable to owners at $392.5 million and basic EPS of $0.09.

• For the nine-month period, total revenues reached $6,659 million, net profit attributable to owners was $1,288 million, and basic EPS was $0.32.

Financial highlights

• Q3 2025 net profit was $393M, down 23% year-over-year, with 9M 2025 net profit at $1,688M, down 24% year-over-year.

• Sales volume reached 510,497 BOED in Q3 2025, up 7% year-over-year; average selling price declined 8% to $43.17/BOE.

• EBITDA margin stood at 69% in Q3 2025; net profit margin at 20%.

• As of 30 September 2025, total assets stood at $29,033 million, with total equity of $15,943 million and total liabilities of $13,090 million.

• Cash flow from operations before tax was $4,747M for 9M 2025; free cash flow was $112M.

Outlook and guidance

• FY2025 sales volume guidance is 510–515 KBOED, with gas price around $5.8/MMBTU and unit cost near $30/BOE.

• EBITDA margin expected at 70–75% for FY2025.

• Oil price consensus for FY2025: Dubai $65–75/BBL; LNG $11–14/MMBTU.

• The company continues to invest in property, plant, and equipment and exploration assets, indicating ongoing expansion and development.