BANGKOK, Thailand – Ms. Wilaiwan Kanchanakanti, Deputy Chief Financial Officer of PTT Oil and Retail Business Public Company Limited (OR), revealed that the company expects its Q3 performance to be similar or slightly weaker compared to Q2. The previous quarter saw revenue of 183.99 billion baht and a net profit of 2.537 billion baht. The anticipated decline is attributed to the stronger baht, which has reduced exchange rate gains.
The Mobility business is expected to see a decrease in sales volume in Q3 due to seasonal factors, with marketing margins remaining stable at 0.90–1 baht per liter.
The Lifestyle business is anticipated to maintain an EBITDA margin of around 27%, possibly increasing to 28%. Café Amazon sales are projected to remain strong, with at least 100 million cups sold in Q3, compared to a record 102 million cups in Q2.
In the Global segment, growth is expected, particularly in sales volumes from the Philippines and Cambodia, which will support overall international business volume and profitability.
For the full year of 2024, OR expects net profit to be close to the 2023 level of 11.094 billion baht. However, market share is expected to decrease by 3-5% due to the impact of fake news, despite promotional efforts by the company.
Looking ahead, OR plans to expand its PTT Station service stations by 100 locations in Thailand and approximately 20 locations abroad in 2024, reflecting economic growth. Café Amazon aims to add 300 new branches.
As of mid-2024, OR operates 2,681 PTT Stations, with 2,269 in Thailand and 412 abroad. Café Amazon has 4,652 branches, and the company operates 963 EV charging stations with 1,802 charging points across 77 provinces.
Regarding the government’s drafting of a new oil trade law, OR is monitoring potential impacts on its business. The new law is intended to lower fuel prices for consumers, but the specifics of the new pricing formula are yet to be finalized. OR believes that the competitive retail oil market and government mechanisms like the Oil Fuel Fund and taxes will be used to manage prices according to state policy, while ensuring that all operators in the market can sustain their businesses.
