Wilaiwan Kanjanakanti, CFO of PTT Oil and Retail Business Public Company Limited (SET: OR), revealed that the company is pursuing mergers and acquisitions (M&A) deals to acquire business for the Mobility and Lifestyle sector. OR is also about to close a new deal on Quick Services for the Lifestyle sector, with more clarity expected to be disclosed in 3Q25.
Regarding the company’s performance in 2Q25, in the Mobility sector, the oil’s price is dropping but not rapidly, and the sales volume during the rainy season may slightly fall. Therefore, OR expected small stock loss, while the margin is expected to remain within estimated range. As for the Lifestyle sector, the sales from Cafe Amazon is expected to continue growing and average about 100 million cups by the end of quarter.
There is also a forecast of Dubai crude oil price volatility this year, with prices expected to move within USD 50 – 70 per barrel. Due to this, the company decided to continue closely monitoring the global oil market and focus on inventory management to prevent stock loss.
As for the overall performance of 2025, OR’s oil sales are expected to rise in line with Thai GDP growth, which is projected to increase between 1.3 – 2%. Since the neighboring nations’ economies are still showing stronger growth than Thailand’s, the trend of the company’s Global sector is still in a positive trajectory.
The opening of Cambodia’s new airport this year would support jet fuel sales volume. In addition, the tourist’s figure in Thailand is expected to reach 36.5 million this year. As a result, the sales volume of OR’s jet fuel this year is projected to reach about the same volume in 2019.
Regarding the company’s investment, OR aims to set the figure this year at THB 18 billion, with 40.5% of it being spent on the Mobility sector to, for example, expand the EV charger and PTT stations. The other 38.5% would be used on the Lifestyle sector to expand the Amazon Cafe branch, M&A, or the incoming joint venture.
The other 14.7% would be focused on the Global sector to fortify the infrastructure, such as the oil storage, terminal, and the expansion of Amazon Cafe branch and PTT station on foreign ground. As for the remaining 6.3%, the investment would be spent on innovation and platform development.
Analysts from Krungsri Securities Public Company Limited maintain a “BUY” rating on OR with a target price of THB 17 per share.
