PTT Global Chemical Plc (PTTGC) expects its earnings before interest, taxes, depreciation and amortisation (Ebitda) to rise by 5-6% annually over the next five years on continuous expansion and improved production efficiency.
The country's largest petrochemical producer reported Ebitda of 55 billion baht last year, of which 57% came from olefins, 16% from aromatics, 15% from refineries, 2% phenol, 2% green products and 8% from other products.
Chief executive Anon Sirisaengtaksin said by 2017, its Ebitda will be 15-30% higher than last year.
Revenue totalled 563 billion baht, up by 12% from 2011, for a net profit of 34 billion, up by 13%.
PTTGC earmarked US$4.5 billion for business expansion from 2013-17. It projects revenue growth to 600 billion baht in 2017 and 800 billion in 2022.
Patipan Sukonthaman, the executive vice-president for finance and accounting, said PTTGC, which is 49% owned by PTT Plc, expects details of three foreign investments to settle by mid-year.
The chemical firm signed a memorandum of understanding with Sinochem Corporation for joint development of a petrochemical plant in China.
The firm has also been shortlisted as a potential investment partner of Indonesia's national oil company, Pertamina, in developing a $5-billion chemical complex on Java.
In addition, PTTGC formed a partnership with the Malaysian national oil company Petronas. A final investment decision on this venture is likely in the third quarter.
Mr Anon announced that PTTGC has cash on hand of $2.5 billion. It targets issuing another $1 billion worth of debentures at year-end to finance the expansion on top of the tranche of $1 billion issued last year.
The petrochemical industry is projected to turn around this year on the back of the global economic recovery.
Shares of PTTGC closed yesterday on the SET at 77.50 baht, down 2 baht, in heavy trade worth 1.27 billion baht.