PTT Oil and Retail Business Public Company (OR) Q1 2025 earnings summary

Executive summary

• Net profit and EBITDA grew strongly in 1Q25, with improvements across all core business segments and lower net operating expenses.

• Continued expansion in mobility, lifestyle, and global businesses, with increased outlets and sales volumes, especially in the Philippines.

• Maintained leadership in oil market share at over 40% and expanded EV charging infrastructure nationwide.

• Total sales and services for 1Q25 were THB 182,422 million, down 1.9% QoQ but up 2.5% YoY, mainly due to lower oil sales volume in Mobility and Lifestyle, offset by strong Global growth.

• Net profit reached THB 4,380 million, up 46.0% QoQ and 17.6% YoY, with EPS at THB 0.36.

Financial highlights

• Total revenue for 1Q25 was THB 177,934 million, down 1.9% QoQ but up 2.5% YoY.

• EBITDA rose 32.7% QoQ and 5.0% YoY to THB 6,484 million, with margin improvements in all segments.

• Net profit margin improved to 2.4% from 2.1% YoY.

• Cash and cash equivalents at period end were THB 24,973 million, with positive operating cash flow.

• Return on equity increased to 7.3% from 7.0% YoY; return on total assets rose to 3.9% from 3.6%.

Outlook and guidance

• Thailand GDP growth forecast for 2025 is 1.3–2.0%, with supportive factors including tourism and fiscal measures.

• Oil price expected to range $50–70 per barrel in 2025; inflation projected at 0.2–0.5%.

• Continued focus on expanding EV infrastructure, sustainable products, and international business.