PTT Public Company Limited, or stock symbol PTT, reported its 2025 financial results with a net profit of 90,166 million baht, increasing only 0.1% from the previous year. This reflects volatility in global energy prices and ongoing pressure on the petrochemical business, despite support from non-recurring items that helped sustain profits this year.
However, it plans to propose to shareholders an annual dividend payment for 2025 totaling 2.30 baht per share, equivalent to approximately 65,361 million baht. This consists of an operational dividend of 2.10 baht per share and a special dividend of 0.20 baht per share. The record date for shareholders entitled to receive the dividend is set for 6 March 2026, with payment expected on 28 April 2026.
PTT Public Company Limited, or stock symbol PTT, reported to the Stock Exchange of Thailand that in 2025, PTT and its subsidiaries achieved a net profit of 90,166 million baht, an increase of 94 million baht or 0.1% from 2024's net profit of 90,072 million baht.
This was due to recognition in 2025 of net non-recurring items after tax attributable to PTT amounting to about 14,400 million baht. These mainly arose from gains on the sale and change in status of investments in Lotus by PTTGM, and recognition of profit shares from joint ventures related to acquisitions below fair value and the merger of oil refineries within the Shell group in Singapore by TOP.
In 2025, PTT and its subsidiaries reported EBITDA of 332,849 million baht, down 63,385 million baht or 16.0% from 2024's 396,234 million baht. This was mainly due to weaker performance in the petroleum exploration and production segment from lower average selling prices.
Additionally, the petrochemical and refining businesses saw declines. The petrochemical segment fell due to the aromatics and olefins groups, affected by product price spreads relative to feedstock costs and reduced sales volumes in aromatics.
The refining business's performance declined due to lower sales volumes despite an increase in gross refining margins driven by product price spreads. Net losses from oil inventory and net realizable value of inventory also decreased. In 2025, PTT and subsidiaries had losses of about 12,000 million baht, compared to approximately 13,000 million baht in 2024.
Furthermore, the gas business group's performance declined, mainly from the gas separation business due to lower average selling prices and sales volumes. Additionally, subsidiaries in the gas business saw reduced results, including PTT LNG Company Limited (PTTLNG), which reduced its stake in the second LNG Receiving Terminal project (LMPT2) to 50.0% on 30 April 2024. PTT Natural Gas Distribution Company Limited (PTTNGD) also saw declines due to lower average selling prices following benchmark price adjustments.
Meanwhile, the gas procurement and wholesale business improved. In January 2024, a penalty fee of 4,300 million baht was applied for shortfall in contracted gas supply volumes from offshore sources in the Gulf of Thailand. This was calculated as a discount on the Pool Gas price per the Energy Regulatory Commission's order.
PTT plans to propose to the 2026 Annual General Meeting the allocation of 2025 net profit for dividend payments totaling 2.30 baht per share, comprising an operational dividend of 2.10 baht per share and a special dividend of 0.20 baht per share, totaling approximately 65,361 million baht.
After deducting the interim dividend already paid for the first half of 2025 at 0.90 baht per share (about 25,707 million baht), the remaining dividend for the second half of 2025 is expected to be 1.40 baht per share, approximately 39,654 million baht.
The record date for shareholders entitled to receive the dividend is set for 6 March 2026, with the dividend payment scheduled for 28 April 2026, following approval at the shareholders' meeting.
The proposed special dividend reflects strong asset management and free cash flow generation last year. It is a one-time allocation made under financial discipline principles to provide additional returns to shareholders.
At the same time, the company continues to maintain financial strength and an investment-grade credit rating, without altering its regular dividend policy.
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