The 2025 fiscal year was a period of consolidation for PTT Global Chemical Public Company Limited (SET: PTTGC), characterized by significant revenue compression but a notable narrowing of its net loss.
The company reported total sales revenue of Baht 484,907 million, marking a 20% decline from the Baht 604,045 million recorded in 2024. This top-line squeeze was primarily driven by declining product prices and lower sales volumes due to planned maintenance shutdowns at the MEG plant, the Refinery, and the Aromatics Unit 2.
Operationally, PTTGC’s Adjusted EBITDA fell 34% year-on-year to Baht 20,846 million. Performance was heavily pressured by weak petrochemical spreads in the Aromatics and Olefins segments, alongside external headwinds such as U.S. tariff policies and geopolitical unrest in the Middle East. Furthermore, the company recognized a combined Baht 3,519 million net loss from uncontrollable market factors, including stock loss and Net Realizable Value (NRV) adjustments.
Despite these pressures, PTTGC successfully reduced its full-year net loss to Baht 14,600 million (Baht -3.61 per share), representing a 51% improvement over the Baht 29,811 million loss (Baht -6.62 per share) reported in 2024. This relative recovery was supported by aggressive cost-control measures and the execution of its Portfolio Transformation strategy.
Specifically, fixed overhead and variable costs decreased following the restructuring of the Vencorex Group. Additionally, net financial expenses dropped 29% to Baht 7,709 million as the company executed its deleveraging plan through long-term loan repayments and bond buybacks.
The company’s bottom line also reflected Baht 2,854 million in asset impairment losses for GCP and PTTMCC. However, these were partially mitigated by a Baht 2,035 million reversal of provisions related to PTTAC restructuring and reversals of impairment losses for the Vencorex Group. By prioritizing operational efficiency and financial discipline, PTTGC has sought to stabilize its financial position heading into 2026.
