PTT Oil and Retail Business Public Company Limited (SET: OR) reported a sharp turnaround in its third-quarter 2025 performance, swinging from a loss in the same period last year to a solid profit, driven by improved operational efficiency in its core Mobility segment and stronger contributions from the Lifestyle business.
For the third quarter of 2025 (3Q25), OR posted a net profit of THB 2,614 million, compared to a net loss of THB 1,609 million in 3Q24 — an improvement of over 100%. Earnings per share (EPS) rose to THB 0.22, up from a loss of THB 0.13 in the prior year. This turnaround came despite total sales and service revenue declining 12.8% YoY to THB 153,600 million, reflecting lower global oil prices and reduced sales volumes.
Profitability strengthened across key metrics, with EBITDA surging more than 100% to THB 4,878 million, up from THB 1,763 million in 3Q24.
Key Drivers of the Turnaround
The Mobility segment (oil and fuel retail) was the primary driver of improved profitability. Although segment revenue fell 13.9% due to lower prices and volumes in line with global oil trends, the average gross profit per liter rose significantly to THB 0.51, supported by reduced crude price volatility and better cost control.
Non-operating factors also contributed positively, as the foreign exchange position shifted from a substantial loss of THB 1,511 million in 3Q24 to a small gain of THB 2 million in 3Q25.
Lifestyle Segment: Stable Growth and Margin Expansion
The Lifestyle business, encompassing food, beverage, and retail, continued to deliver steady growth. Revenue increased 7.2% YoY, while EBITDA jumped 49.8%.
Café Amazon, OR’s flagship F&B brand, remained a key growth engine with sales up 9.6% YoY, reaching 109 million cups sold—an 11.2% increase—driven by continuous branch expansion. The Lifestyle EBITDA margin improved to 28.2% from 20.2% in 3Q24, supported by higher gross profit and the discontinuation of underperforming businesses last year.
Global Segment Faces Pressure
The Global business segment continued to face challenges, with revenue down 20% and EBITDA decreasing 32.6% YoY, primarily due to weaker performance in Cambodia. Fuel sales were impacted by the ongoing border conflict between Thailand and Cambodia, which also weighed on Café Amazon’s international sales volumes.
Network Expansion and Digital Strategy
During the quarter, OR added 17 new PTT Stations, reinforcing its nationwide retail presence. On the digital front, the company launched the “blueplus+” application, designed to integrate customer services across its ecosystem and enhance user engagement through digital loyalty and convenience offerings.
