OR Records over 600% Increase in 3Q23 Earnings from Mobility and Non-Oil Segment

PTT Oil and Retail Business Public Company Limited (SET: OR) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
5,169.66 700.99
Earning Per Share
0.4300 0.0600
% Change 637.48
9 Months 2023 2022
Net Profit (Loss)
Million Baht
10,901.13 11,113.91
Earning Per Share (Baht) 0.91 0.93
% Change -1.91

OR reported a net profit of THB 5,170 million in 3Q23, increased nearly 640% from THB 700 million in 3Q22. The increase was mainly due to an increase of gross profit for its Mobility business, while a non-oil segment also continued to grow at a gradual pace. 

OR recorded total sales and services in the amount of THB 191,560 million, a decrease by 1.7% YoY due to a slight drop in Mobility business. However, EDITDA for the Mobility business was more than double to THB 4,585 million in the third quarter when compared to the same quarter of last year due to an increase in overall average gross profit per liter by THB 0.58 partly due to better cost management. Meanwhile, OR had lower net operating expenses due to decreased transportation and promotional expenses but higher other income from PTT Group Supply Chain Collaboration. As a result, the EBITDA margin was at 3.2% in 3Q23, rising from 0.6% in 3Q22. 

In 3Q23, the Lifestyle business had a combined network of 4,284 F&B business outlets, comprising 4,045 Cafe Amazon outlets in Thailand classified as 2,199 outlets located in PTT Stations and 1,846 outlets outside of PTT Stations, or 54.4% and 45.6%, respectively along with 20 Cafe Amazon outlets overseas, 100 Texas Chicken outlets, 119 outlets of other F&B comprising Pearly Tea and Pacamara Coffee Roasters and for Other retail business we recorded 2,186 convenience stores under the 7-Eleven and Jiffy brands in Thailand. 

Revenue from sales and services for Lifestyle segment increased by THB 219 million(+4.1%), due to the recovery of economic activities. The revenue from sales of the F&B business increased by THB 308 million (+8.8%), mainly due to increased sales volume from the F&B business outlet expansion. Other retail businesses’ revenue from sales decreased by THB 89 million (-5.0%), mainly from a decrease in average sales revenue per store per day of convenience stores.