OR Records 103% Profit Growth in 2Q22 from Rising Global Oil Prices and Higher Demand

PTT Oil and Retail Business Public Company Limited (SET: OR) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q22 2Q21
Net Profit (Loss)
Million Baht
6,567.81 3,224.94
Earning Per Share
0.5500 0.2700
% Change 103.66
6 Months 2022 2021
Net Profit (Loss)
Million Baht
10,412.92 7,228.14
Earning Per Share (Baht) 0.8700 0.6400
% Change 44.06

OR recorded a net profit of THB 6,568 million, an increase of THB 2,723 million, leading to an earnings per share of 0.55 baht.

OR recorded total sales and services in the amount of THB 211,431 million, an increase of THB 34,140 million from the last quarter, mainly due to the rise in average global oil prices following higher demand induced by recovery of economic activities caused by easing measures to control the spread of COVID-19 in many countries, including Thailand. Meanwhile, the supply is still tight due to the sanctions on Russia. All of the mentioned factors resulted in higher sales revenue for all business segments: Mobility business and Global business recorded an increase in the overall oil sales volume by 2.0% and 2.4%, respectively, leading to an increase in revenue. For the Lifestyle business, sales and services revenue increased from the previous quarter due to the higher demand from the economic recovery, the relaxation of COVID-19 measures and the Thai holiday season.

In 2Q/22, the Lifestyle business has a combined network of 3,973 F&B business outlets, comprising 3,728 Cafe Amazon outlets in Thailand—classified as 2,097 outlets located in PTT Stations and 1,610 outlets outside of PTT Stations, or 56.6% and 43.4%, respectively—along with 21 Cafe Amazon outlets overseas, 98 Texas Chicken outlets, 147 outlets of other F&B comprising Hua Seng Hong Dim Sum, Pearly Tea and Pacamara Coffee Roasters and for Other Non-Oil business we recorded 2,092 convenience stores under the 7-Eleven and Jiffy brand in Thailand.

Cafe Amazon, under the F&B business, recorded 91 million cups sold in this quarter, an increase of 8 million cups (+9.6%) compared to 1Q/22, because of higher demand from the recovery of economic activities caused by easing measures to control the spread of COVID-19 and the holiday season, boosting traveling in Thailand. In 1H22, there was an increase of 31 million cups sold (+21.7%) compared to the first half of 2021.