Mitihoon – PTT Oil and Retail Business Public Company Limited (OR) has announced its financial results for the second quarter of 2024, showing robust growth. The company achieved sales and service revenue of 183,989 million baht, an increase of 6,055 million baht, or 3.4%, from the previous quarter. While all business segments saw positive growth, OR aims at expanding its lifestyle business, launching “found & found” to penetrate into the health and beauty segment.
Mr. Disathat Panyarachun, Chief Executive Officer of OR, disclosed: For the second quarter of 2024, the company achieved sales and service revenue of 183,989 million baht, an increase of 6,055 million baht, or 3.4%, from the previous quarter with all business segments experiencing growth. The Mobility segment grew by 2.6%, the Lifestyle segment increased by 1.0%—driven by both food and beverage retail as well as other retail activities—and the Global segment surged by 23.2% due to higher oil sales in the Philippines and Cambodia. For the first half of 2024, OR’s total sales and service revenue was 361,922 million baht, a decrease of 23,517 million baht compared to the same period last year. EBITDA was 11,016 million baht, reflecting a decrease of 121 million baht, or 1.1%, primarily due to a decline in the Mobility segment. Despite this, the Lifestyle segment experienced growth in both food and beverage retail and other retail sectors, while the Global segment saw increased sales in the Philippines. Operating expenses also decreased by 6.1%. Additionally, OR benefited from a weaker baht and reduced losses from derivatives, resulting in a net profit of 6,260 million baht—an increase of 528 million baht or 9.2% from the previous year. Earnings per share stood at 0.52 baht.
In the second quarter of this year, OR launched OR Health & Wellness (ORHW) to expand into the health and beauty market and enhance its lifestyle business. This strategic move aligns with the growing health and beauty sector, which is the second largest in Southeast Asia. The initiative is part of OR’s broader strategy to offer comprehensive lifestyle solutions. As part of this expansion, OR introduced “found & found,” a new retail concept focusing on beauty and health, with plans to open 10 locations by mid-2025 and expand to 500 branches by 2030. Additionally, OR is dedicated to developing a complete value chain for its coffee business, emphasizing high-quality bean processing and fair-trade practices to support coffee farmers and enhance sustainability. The Café Amazon Park project in Lampang aims to set a benchmark for a robust coffee value chain from production to retail.
On the environmental side, during the second quarter, OR collaborated with VietJet Thailand to provide Sustainable Aviation Fuel (SAF) on pilot flights between Bangkok and Da Nang. This initiative highlights OR’s commitment to reducing environmental impact and aligns with OR SDG, particularly the “GREEN,” or “G,” dimension focused on fostering a clean society and a healthy environment, which are crucial for achieving OR’s 2030 targets.
Later this year, OR plans to introduce a new community space business model, distinct from its fuel station operations. This model will utilize OR’s expertise to manage high-potential locations outside PTT Stations, catering to evolving consumer lifestyle needs. The first Community Space is expected to launch soon, further strengthening OR’s focus on lifestyle business growth.
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