Wilaiwan Kanjanakanti, Deputy Chief Financial Officer of PTT Oil and Retail Business Public Company Limited (SET: OR), revealed that this year the company aims to increase its market share by 1-2%, raising the proportion to over 40% from 39.6% at the end of last year, remaining the number one in the country. This growth aligns with Thailand’s economic (GDP) growth rate, which is expected to expand by 1.5-2.5% this year.
The government’s new economic stimulus and tourism promotion policies will be supportive factors for growth, along with the anticipated increase of tourists this year to 35 million people, compared to 33 million last year. This will support OR’s continuous growth in jet fuel sales. At the same time, OR also targets to maintain the average margin of the oil business this year at THB 0.9-1 per liter, a level close to last year’s or slightly higher.
For coffee sales through Café Amazon, OR targets continuous sales growth this year, reaching 1.2 million cups per day compared to 1 million cups per day last year.
In the liquefied petroleum gas (LPG) business, most sales are concentrated in the industrial sector, while demand at LPG stations continues to decline as alternative energy sources become available. The country’s main policy for supporting LPG usage will focus mainly on households. Nevertheless, in the LPG business, OR still maintains its number one market share.
Regarding investment expansion, the Mobility business continues to serve as a provider of oil and is adding support for new forms of energy, such as EV charging stations, and is developing applications to enhance convenience for EV users nationwide. Currently, margins at EV charging stations are gradually improving, and in the future, OR will further develop its services, increasing both the number of stations and faster charging technology.
For Lifestyle business, besides focusing on food and beverage (F&B), OR is seeking new products, such as deciding to invest in budget hotels at PTT Station service stations through a joint venture with Central Plaza Hotel Public Company Limited (SET: CENTEL). The total investment is expected to be around THB 700 million, with construction of six locations starting this year, slated to gradually open by 2027. OR expects to start recognizing EBITDA after launching services in 2027.
