GC announces its interim financial results for Q2/2020 for analysts
On August 14, 2020, Dr. Kongkrapan Intarajang, Chief Executive Officer of PTT Global Chemical Public Company Limited, or GC, together with Ms. Duangkamol Settanung, Executive Vice President, Finance and Accounting and Mr. Saroj Putthammawong, Executive Vice President, Marketing, Commercial and Supply, announced GC’s financial results at the third 2020 Analyst Meeting via Microsoft Teams and Facebook Live. Furthermore, IHS Markit held a special discussion on the topic of “Petrochemicals Outlook-Impact from COVID-19.”
GC announced its interim financial results for Q2/2020, with operating profit (excluding stock loss net reversal of NRV, foreign exchange gain and loss from commodity hedging) at 1,409 million baht, a 1,128 million baht or 25% increase from the previous quarter. The company had adjusted EBITDA of 6,463 million baht, an increase of 2% from Q1/2020. However, GC’s losses stemmed from an 899 million baht stock loss net reversal (NRV), a 340 million baht loss from commodity hedging, and a 1,501 million baht foreign exchange gain from the appreciation of the Thai baht during the period. GC recorded net profit of 1,671 million baht (0.37 baht/share), an increase of 119% from Q1/2020.