On Monday at 4:04 PM (Bangkok time), the share price of PTT Global Chemical Public Company Limited (SET: PTTGC) rose by 1.46% or THB 0.30 to THB 20.80, with a trading value of THB 795.90 million.
Bualuang Securities (BLS) wrote that PTTGC posted a net loss of THB 2,915 million for the third quarter of 2025, with the loss narrowing both year-on-year and quarter-on-quarter.
The company’s core loss totaled THB 3,492 million, deeper year-on-year but improving compared to the previous quarter. The net loss was higher than both the analyst’s and the market’s expectations, mainly due to larger-than-anticipated special losses.
The decline in core operations year-on-year was mainly attributed to reduced profits in the olefins and aromatics businesses. On a quarter-on-quarter basis, the improvement in results was supported by increased profitability in the refining and aromatics segments.
Bualuang expects core operating performance to improve year-on-year in the fourth quarter, driven by better refining margins and stronger petrochemical product spreads, although results may soften quarter-on-quarter due to lower sales volume as a result of scheduled maintenance shutdowns at the refinery and aromatics plant.
The brokerage firm believes that current share prices already reflect the short-term slowdown and views this as an opportunity for gradual accumulation ahead of an expected recovery next year. Bualuang maintains a ‘Buy’ recommendation with a target price of THB 27 per share.
