PTTGC targets Allnex to drive EBITDA share to 30% within 4-5 years

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Summary · why it matters

PTT Global Chemical, or PTTGC, plans to expand its specialty chemicals business with Allnex as a key driver, aiming to raise the share of earnings before interest, taxes, depreciation and amortization, or EBITDA, from the Allnex business to 30% of PTTGC's total EBITDA within the next 4-5 years, up from about 15% currently. Narongsak Jivakanun, Chief Executive Officer and President of PTTGC, said the company will establish production and investment bases in a hub format in China and India, with the Indian plant due to start production by the end of this year. Allnex's industrial coatings product group will focus on electronics, data centers, high-end technology and electric vehicles, segments that offer high margins. Anish K. Taneja, Chief Executive Officer of Allnex, said growth will be driven through three pillars: internal efficiency improvements, building on the existing customer base and expanding into new customers in markets worldwide, and creating a new corporate culture. Iris Tang, Managing Director of Allnex China, said the industrial coatings market in China accounts for as much as 45% of the global market, with customers such as BYD, Xiaomi, COSCO, SANY and CRR C located in the same strategic area. Meanwhile, the company continues to move forward with establishing a joint venture with SCGC in the olefins and polyolefins business to improve profit margins.

Impact on stocks 7

Materials▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
Others▲ · 5 stocks

Theme Impact 1

Off-coverage companies 2

AllnexPrivate▲ Positive
Demandrelevance

Allnex is the key growth driver, expanding into new customers and high-margin segments like electronics, data centers and EVs, with a new India plant starting production by year-end.

SCG Chemicals Public Company Limited (SCGC)Private± Mixed
Capitalrelevance

PTTGC continues moving forward with a joint venture with SCGC in olefins and polyolefins to improve profit margins, but no terms or impact details given.

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