Suwatchai Pitakwongsaporn, Managing Director of ATLAS Energy Public Company Limited (SET: ATLAS), reiterated investor confidence in the company’s potential as a ‘Stock in the Future’ — an energy stock distinguished by a modern business model.
ATLAS operates under the ‘Creative Energy Retail’ concept, focusing on delivering innovative, technology-driven integrated energy services, including LPG distribution for household, industrial, and transport sectors.
Currently, the company holds the leading market share in the transport sector (Auto LPG) at 31.1%, while its share in the household and industrial sectors is around 4%. In addition, ATLAS is expanding its advertising business, ‘People Touch,’ leveraging a network of over 240 service stations nationwide to secure recurring income and bolster stable profitability.
As of the end of the second quarter of 2025, the company ranked fourth overall in total LPG market share across all sectors, holding about 11%.
“We are ready to continue expanding our LPG network and to develop new services, aiming for sustained, stable growth and consistent returns for shareholders,” Suwatchai said.
Amorn Piriyapatsom, Executive Vice President at Sage Capital, the company’s financial advisor, disclosed that ATLAS’ listing marks a significant milestone for robust business expansion, backed by a solid foundation and high growth prospects. This aligns with its image as a growth stock, with average annual revenue growth exceeding 42% and recurring income from core businesses, including gas distribution and advertising.
In the first half of 2025, ATLAS recorded revenue of THB 5,935.84 million, representing a 12.12% increase, and a net profit of THB 155.70 million. The company’s gross profit margin stood at 14.4%, outperforming the industry average, and it had accumulated profits exceeding THB 1 billion — a strong capital base to support future growth.
Patchaporn Sankaburanurak, Managing Director, Investment Banking Department 1 at KGI Securities (Thailand), as lead underwriter, highlighted ATLAS’s strength in its COCO (Company Owned Company Operated) business model, which enables efficient cost management and quality control at every step, creating a ‘Power of Network’ through its integration with the PTG Group, the major shareholder. This structure has resulted in a gross profit margin of 14–17%, notably higher than the industry average of 3–5%.
Furthermore, the expansion of the advertising business from more than 240 service stations nationwide brings a margin of over 60%, enhancing ATLAS’s long-term growth potential. It positions ATLAS as one of the few retail energy stocks with a balanced revenue structure across both energy and ancillary services.
ATLAS made its trading debut on the Stock Exchange of Thailand (SET) on October 20, 2025, in the Energy and Utilities sector, with an IPO price of THB 3 per share, reflecting the market’s confidence in its business fundamentals and future growth potential.
