PTT Oil and Retail Business Public Company Limited (OR) revealed its operating results for the second quarter of 2024, with sales and service revenue of 183,989 million baht, an increase of 6,055 million baht or 3.4% from the previous quarter, with an increase in every business group, aiming to expand the lifestyle business, launching the ‘found and found’ store, expanding into the health and beauty business.
Mr. Disatat Panyarachun, Chief Executive Officer of PTT Oil and Retail Business Public Company Limited (OR), revealed the operating results for the second quarter of 2024 with sales and service revenue of 183,989 million baht, an increase of 6,055 million baht or 3.4% from the previous quarter, with an increase in every business group, with the Mobility business group increasing by 2.6%, the Lifestyle business group increasing by 1.0% from both the food and beverage retail business and other retail businesses, and the Global business group increasing by 23.2% in line with increased oil sales volume in t
he Philippines and Cambodia.
For the first half of 2024, OR had sales and service revenue of 361,922 million baht, a decrease of 23,517 million baht from the same period of the previous year, and had EBITDA of 11,016 million baht, a decrease of 121 million baht or 1.1%, due to a decrease in the Mobility business group.
However, the Lifestyle business group increased from both the food and beverage retail business and other retail businesses. The Global business group increased mainly due to the increased sales volume in the Philippines. In addition, net operating expenses decreased by 6.1%. In addition, this period, there was an increase in foreign exchange gains from the weaker baht and a decrease in losses from derivatives. As a result, in the first half of 2024, OR had a net profit of 6,260 million baht, an increase of 528 million baht or 9.2% from the same period of the previous year, or an increase of 0.52 baht per share
.
In the second quarter, OR established OR Health and Wellness (ORHW) to move fo
rward in the health and beauty market, strengthening the lifestyle aspect by expanding the portfolio to businesses other than oil to cover a variety of needs and respond to the health and beauty care trends of consumers, which is the second largest market in Southeast Asia. This is one of OR’s important strategies that is committed to creating complete lifestyle choices to meet all lifestyle needs. It has also launched found and found stores, a beauty and health retail store. With a plan to open a total of 10 branches in mid-2025 and a target to open 500 branches in 2030 (2030).
In addition, OR continues to focus on developing the value chain of the coffee business to be complete in order to create sustainability through action by emphasizing the development of coffee bean processing to meet standards and being a market for purchasing quality coffee products with a fair price system (Fair Trade) along with helping to improve the quality of life of farmers who are coffee producers, including pushing the Café
Amazon Park project in Lampang Province to be a model for developing the value chain of the coffee business to create strength from upstream, midstream to downstream.
For environmental operations, in the second quarter, OR collaborated with Vietjet Thailand to provide sustainable aviation fuel (SAF) on the pilot flight from Bangkok to Danang, reinforcing the commitment to reduce environmental impacts in line with the OR SDG approach, especially in the ‘G’ or ‘GREEN’ dimension, which aims to create opportunities for a clean society and to create a healthy environment, which is an important foundation for achieving the OR 2030 goals effectively.
This year, OR plans to launch a new Community Space business model that will not include gas stations, but rather will utilize its expertise in managing potential areas outside PTT Stations to meet consumer needs and lifestyle needs, in line with OR’s business approach that focuses on strengthening the lifestyle business. It plans to launch its first Community Space s
oon.
Source : Thai News Agency