PTT top revenue-earning company in Thailand in 2021
In news that is likely not surprising but probably very frustrating, amid soaring fuel prices, petrol company PTT has topped the list as the highest revenue corporation in Thailand for 2021. The national oil and gas conglomerate breakdancing 1 trillion baht over the last year no doubt thanks in part to huge inflation in the price of oil that has left many struggling.
PTT Public Co Ltd and all of its subsidiary companies have the highest revenue of any company in Thailand, and have greatly benefitted from the global increase in energy prices. Gold is a staple in struggling economic times as it’s widely accepted as the foundation of capitalist economies that people often put money into when less tangible investments are faltering. In 2021, three gold and jewellery companies were ranked in the top five revenue list for corporate earnings.
Petroleum and automotive companies filled out most of the rest of the top spots in profitable companies in the country, with retailer CP All sneaking in at number 10. The top 10 most profitable companies in Thailand in 2021 were:
|1||PTT||petrol||Revenue 1 trillion baht (+36.06% year-on-year), profit 67 billion baht (+28.2% YoY)|
|2||Hua Seng Heng Commoditas||gold, jewellery||Revenue 730 billion baht (+5.38% YoY), profit 78 million baht (+11.04% YoY)|
|3||PTT Oil and Retail Business||retail petrol||Revenue 490 billion baht (+19.37% YoY), profit 9.1 billion baht (+62.06% YoY)|
|4||YLG Bullion International||gold, jewellery||Revenue 450 billion baht (+23.56% YoY), profit 66 million baht (+8.44% YoY)|
|5||MTS Gold||gold, jewellery||Revenue 430 billion baht (-8.46% YoY), profit 21 million baht (+117% YoY)|
|6||PTT Global Chemical||petroleum||Revenue 410 billion baht (49.77% YoY), profit 37 billion baht (+1,198.63% YoY)|
|7||Thai Oil||petroleum||Revenue 370 billion baht (36.93% YoY), profit 24 billion baht (+1,756.73% YoY)|
|8||Toyota Motor Thailand||automotive||Revenue 330 billion baht (-9.64% YoY), profit 11 billion baht (-9.5% YoY)|
|9||Toyota Daihatsu Engineering and Manufacturing||automotive||Revenue 327 billion baht (-9.32% YoY), profit 1.8 billion baht (-38.15% YoY)|
|10||CP All||retail||Revenue 320 billion baht (-2.46% YoY), profit 9 billion baht (-36.83% YoY)|
SOURCE: The Nation
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