PTG Delivers 2Q25 Net Profit of THB312 Million with Robust Non-Oil Business

PTG Energy Public Company Limited (SET: PTG) has announced 2Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:

 

In 2Q25, PTG reported a net profit of 312 million baht, declining 33.2% year-on-year but posting a significant recovery of 68.3% quarter-on-quarter.

Revenue from Sales and Services at 56,496 million baht, representing a decrease of 2.2% year-on-year, primarily due to the Oil Business from lower average retail oil prices compared to the same period last year, whilst the total oil sales volume stood at 1,700 ML, down 0.9% year-on-year but up 2.0% quarter-on-quarter.

The growth quarter-on-quarter was mainly due to seasonal factors such as the agricultural season and long holidays in April. This was further supported by the renovation in the urban service stations and a consistent patronage from PT Max Card and Max Card Plus members (Membership), which contributed to an increase in personal vehicle usage, especially for gasoline (Mogas), which grew higher than diesel.

Meanwhile, the Non-Oil Business continued to expand strongly, with total revenue reaching 5,621 million baht, representing an increase of 35.7% year-on-year. This was primarily driven by PunThai CoffeeBusiness, which saw revenue more than double—rising 135.6% year-on-year and 27.0% quarter-on-quarter—supported by ongoing branch expansion to 1,642 outlets, a 59.7% year-on-year or 11.2% quarter-on-quarter increase, equivalent to an average of more than 1.7 new outlets per day. The brand also introduced modernized store models and enhanced its beverage variety with customizable DIY menu options to better align with customer preferences, along with strong loyalty from the membership.

Gross Profit stood at 4,341 million baht during the second quarter, representing a growth of 11.7% year-on-year and 7.9% quarter-on-quarter. This was primarily driven by the continued strong performance of PunThai CoffeeBusiness, in line with the substantial increase in Non-Oil revenue. On a quarterly basis, gross profit improved due to better gross profit per liter from the Oil Business, supported by the alignment between the change of ex-refinery price and the Oil Fuel Fund Management during the quarter.

The company recognized a share of profit from investments in associates and joint ventures of 75.4 million baht in 2Q25, up 91.5% year-on-year and 170.6% quarter-on-quarter. The increase was largely attributable to improved performance from the palm complex business under PPP Green Complex Public Company Limited (PPPGC), which returned to profitability due to more efficient cost and production management. EBITDA for the quarter stood at 1,729 million baht, broadly in line with the same period last year and increasing by 14.7% quarter-on-quarter.

PTG remains focused on scaling its Non-Oil Business and executing effective cost management strategies to enhance long-term competitiveness. In addition, The company was ranked 48th in the Fortune Southeast Asia 500 for 2025, a list of the top revenue-generating companies in the region for the fiscal year 2024. This marks the second consecutive year the Company has made the list and reflects a notable 10-place improvement from the previous year—underscoring the Company’s solid and sustainable growth trajectory at the regional level.