PTT: Annual Report 2011

Page 19

PTT Public Company Limited

Annual Report 2011

Dear Shareholders, In the auspicious year of 2011, in which His Majesty the King turned 84; PTT Group and alliance humbly presented to Her Royal Highness Princess Maha Chakri Sirindhorn ! (Tambon Withi Phaw Pheang),� an ongoing body of works collected from PTT’s own implementation of the “84 Tambons " " # $ & # presented in her gracious presence at the inauguration of the exhibition entitled “United Thais Pay Tribute to His Majesty ' * + $ "&& < August 31st this year. This collection of knowledge resulted = way of life to form a stronger, self-reliant community and society. This royal initiative has also been adopted by PTT Group in our striving for energy security - a key fundamental for the nation’s economy and society - in tandem with our stewardship of society, community, and the environment. The demonstration of our cause is evidenced in the project entitled the vetiver Development and Campaign Accorddig to the Royal Initiatives operated by PTT in its sixth year, which this year won “The King of Thailand Vetiver Award� for the second time. Another attestation is the Green Globe Award, an extended program from the “Reforestation Project in Honor of His Majesty the King on the occasion of the 50th Anniversary of the Accession to the Throne;� Dating back to 1999, which won this year’s “National Outstanding Project Award (conservation of natural resources and the environment)� from the National > ?

" " J Q Our performance this year is nothing short of incredible; despite numbers of detrimental factors, being it the domestic economic slowdown in line with the global economy, the natural disaster in Japan in March, and Thailand’s own Great Floods late in the year. PTT’s outstanding performance was

due to the business synergy of PTT Group under the directions, Y "&& &<Z [\ ][^ all PTT Group companies (at PTT’s prorated equity shares), &<Z _` {_{ "&& &<Z |{_ ]}^ &<Z ] []` |^_ million in sales revenue, and THB 210,748 million in EBITDA. PTT’s performance this year yielded THB 63,000 million in remittance to the state, of which THB 39,000 million in corporate income tax and THB 24,000 million in dividends - to be spent on national development and improvement of living standard for the public. To elaborate on our improved performance, this could be contributed by the higher product prices driven by world markets and the higher sales volumes almost across the board being it gas separation plant (GSP) products, the petrochemical For the Gas Business Unit, notable successes included greater ? ~ €  ‚ Q receiving terminal managed by PTT LNG Co., Ltd., to accommodate the rising national demand, the commercial start-up of GSP Unit 6, and successful debottlenecking at GSP Unit 5. Remarkable achievements of the Petrochemical and ƒ "&& Global Chemical Plc., (PTTGC), resulting from the merging of "&& ? " "&& ƒ " „ "&& Y the start-ups of several polymer plants under PTTGC, HMC Polymers Co., Ltd., the Bis-phenol A Project of PTT Phenol Co., Ltd., and the jetty and petrochemical tank farm managed by PTT Tank Terminal Co., Ltd. In addition, to strengthen

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