PTT Oil and Retail Business Public Company Limited (SET: OR) has announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q23 | 1Q22 |
| Net Profit (Loss) Million Baht |
2,975.01 | 3,845.11 |
| Earning Per Share (Baht) |
0.2500 | 0.3200 |
| % Change | -22.63 | |
OR reported a net profit of THB 2,975 million, decreased 22% YoY but increased more than 100% QOQ.
Total sales and services was THB 197,414 million, a decrease of THB 8,854 million (-4.3%) from the last quarter, mainly from the lower average selling prices following the lower global oil prices. The average global oil prices declined from concerns over a global recession. Meanwhile, the petroleum supply was still tight due to sanctions on Russia and oil production cuts from OPEC+. All of the mentioned factors resulted in a decrease in sales and services of all business segments.
Both Mobility and Global business’s sales and services decreased by 4.1%, mainly from lower average selling prices. The sales volume of the Mobility business was in line with the previous quarter. The Global business’s sales volume increased by 8.5% mainly from Cambodia and Laos. For the Lifestyle business, revenue from sales and services declined by 7.0%, mainly from the seasonal factor since the last quarter was a high season for both F&B businesses and other retail businesses.
In 1Q/23, theLifestyle business has a combined network of 4,170 F&B business outlets, comprising 3,927 Cafe Amazon outlets in Thailand—classified as 2,155 outlets located in PTT Stations and 1,772 outlets outside of PTT Stations, or 54.8% and 45.2%, respectively—along with 20 Cafe Amazon outlets overseas, 104 Texas Chicken outlets, 119 outlets of other F&B comprising Pearly Tea and Pacamara Coffee Roasters and for Other business. OR recorded 2,155 convenience stores under the 7-Eleven and Jiffy brands in Thailand.
Cafe Amazon, under the F&B business in 1Q/23, recorded 9 1 million cups sold this quarter, an increase of 1 million cups (+1.1%) compared to 4Q/22 because of higher demand from the promotional activities. Number of outlets grew 262% YoY and 52% QoQ.
EBITDA was THB 5,927 million in 1Q/23, an increase of THB 4,673 million (+>100%) compared to 4Q/22, increasing in all business segments. The EBITDA of our Mobility business increased from the higher gross profit per liter of diesel and gasoline including sales volume and average gross profit per liter of aviation fuel increased. The Global business grew in line with the higher sales volume and average gross profit per liter in Cambodia and Laos.
The EBITDA of our Lifestyle business slightly increased from both F&B businesses and other retail businesses. Aggregate net operating expenses decreased by-20.7% from advertising, promotional, repair and maintenance expenses. In addition, OR recorded an increase in the share of gain from investments. Therefore, this quarter OR recorded a net profit of THB 2,975 million (+>100%), leading to earnings per share of 0.25 baht.
