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Home Business OR Announces Q1 Operating Results of 2022, Highlighting Its Continued Progressive Growth

OR Announces Q1 Operating Results of 2022, Highlighting Its Continued Progressive Growth

OR announced its operating results for the first quarter of 2022, recording a net profit of THB 3,845 million, an increase of THB 1,491 million, or 63.3% from the previous quarter, earnings per share of THB 0.32, THB 0.12 higher than the previous quarter, or an increase of 60.0%. OR is focusing on expanding new businesses in response to consumers’ needs and corresponding with future trends, while also announcing investments in startups, joining forces to create business diversification, and shaping up opportunities for inclusive growth.

Phichin Aphiwantanaporn, Senior Executive Vice President, Finance, PTT Oil and Retail Business Public Company Limited (OR), disclosed operating results in the first quarter of 2022 as follows: OR and its subsidiaries received income from sales and services of THB 177,291 million, an increase of THB 19,452 million, or a 12.3% rise from the previous quarter, mainly due to the increase in global oil prices, resulting in the growth of sales revenue for both the Mobility business group and the Global business group.

EBITDA in the first quarter was at THB 6,467 million, an increase of THB 2,049 million, or 46.4% rise, compared to the previous quarter. This growth was achieved in all business segments. For the Mobility business, the overall gross profit increased as a result of greater sales volume generated by both the commercial market and the oil retail market, while the gross profit of diesel fuel sales through service stations dipped due to the delay in price adjustments at service stations in order to reduce the burden on the public sector. In this quarter, OR recorded a net profit of THB 3,845 million, an increase of THB 1,491 million, accounting for 63.3%, or earnings per share of THB 0.32, THB 0.12 higher than the previous quarter, or an increase of 60.0%.

In this quarter, OR is planning to expand the installation of EV Station PluZ charging stations, offering 24 additional chargers at Fashion Island Shopping Center, The Promenade, and Terminal 21 (Asoke, Rama 3, Pattaya, and Korat branches), which are expected to be fully operative in the third quarter to facilitate accessibility to the EV Station PluZ charging stations for all EV users.

Moreover, this effort is in line with consumers’ lifestyles that prefer visiting department stores and placing importance on the use of clean energy. OR has also collaborated with Thailand Post and Mitsubishi Motors Thailand to study the use of electric vehicles in postal and parcel transportation to identify the possibility of expanding the use of electric vehicles in Thailand and to take another step towards becoming a leader in the EV Ecosystem in the future.

With regards to lifestyle, OR launched a multi-brand store named “Your Space,” which offers online retailers a physical space for rent in order to showcase their products to enhance shoppers’ experience prior to making a purchase. This physical store helps increase brand awareness and generate more sales while also responding to the new era of online shopping as well as meeting sellers’ needs in terms of rental fee affordability, cost reduction, and minimum onsite product stocking. Currently, OR also invested in 6 startups through ORZON Ventures, namely Pomelo, GoWabi, Freshket, Carsome, Protomate, and Hangry, to create a New S-Curve, extend its mobility and lifestyle business, as well as provide new experiences and convenience for consumers.

“These actions taken are in line with OR’s mission, ranging from strengthening the integrated energy business for seamless mobility to creating integrated lifestyle choices. It also aims to fulfill opportunities to achieve inclusive growth with all partners by seeking out new businesses with a focus on promoting cooperation, both in the form of business alliances and investment in SMEs or startups.” Phichin said.

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