PTT Oil and Retail Business Public Company Limited (OR) is expanding its global footprint and strengthening its commitment to sustainability, even in the face of challenging market conditions. The company recently announced robust financial results for the first nine months of 2024, demonstrating resilience and strategic foresight as it navigates volatile global markets and fluctuating oil prices.
Strong Financial Performance Amid Global Challenges
For the first three quarters of 2024, OR reported a net profit of 4.65 billion THB and sales revenue of 538.05 billion THB. This growth is attributed to strong performances in the company’s Lifestyle and Global business sectors, which saw increases of 8.1% and 11.6%, respectively. These results highlight OR’s capacity to adapt to shifting market dynamics while solidifying its position as an industry leader with a focus on sustainable innovation.
Expanding International Reach
OR’s operations span 11 countries across Southeast Asia and the Middle East, including Cambodia, Laos, the Philippines, Vietnam, Singapore, Myanmar, Malaysia, Japan, Oman, Saudi Arabia, and Bahrain. This expansive footprint underscores the company’s ambition to become a global leader in both the oil and retail sectors. The company currently operates 411 PTT Stations and 382 Café Amazon outlets across Southeast Asia, reflecting its strong regional presence.
As part of its growth strategy, OR is actively expanding its EV Station PluZ network, which provides electric vehicle charging stations to support the region’s transition to cleaner, more sustainable transportation. Additionally, PTT Lubricants is expanding its footprint in Indonesia and Taiwan, continuing to build on its established presence across more than 40 countries in Asia, Africa, and Europe.
In Cambodia, OR operates 183 PTT Stations and 248 Café Amazon outlets, while the Philippines and Laos host 170 and 58 PTT Stations, respectively. Café Amazon, renowned for its high-quality coffee, has become a key player in international markets, further solidifying OR’s position in emerging and high-potential regions.
Commitment to Sustainable Growth
Looking ahead, OR has committed to an investment of 8 billion THB over the next five years (2024-2028), focusing on clean energy initiatives, infrastructure development, and expanding global opportunities. This strategic investment supports the company’s vision of scaling its sustainability-driven business model to new international markets.
“We are determined to bring our sustainability-focused approach to the global stage and provide lasting value to customers worldwide,” said M.L. Peekthong Thongyai, CEO of PTT Oil and Retail Business Public Company Limited.
A Strategic Roadmap for 2025 and Beyond
OR’s forward-looking strategy for 2025 emphasizes operational efficiency, innovation, and risk management. Key initiatives include:
Cost Optimization: Implementing stringent cost control measures and adopting a strategic asset ownership and operation model to reduce operating expenses.
Risk Management: Strengthening operational stability by utilizing a Dashboard Control Tower to monitor and respond to volatile commodity prices.
Digital Transformation: Accelerating the adoption of digital technologies to modernize operations and enhance customer engagement across OR’s investments and ventures.
Portfolio Optimization: Focusing on high-return projects and discontinuing underperforming ventures to streamline the company’s investment portfolio.
These initiatives demonstrate OR’s commitment to adapting its business model to the demands of a rapidly evolving global economy.
Sustainability at the Core
Sustainability continues to be a driving force behind OR’s business model. In line with its OR 2030 goals, the company is focused on reducing greenhouse gas emissions and waste by one-third, improving the quality of life for 17,000 communities, and integrating 1 million small and medium-sized enterprises (SMEs) into its value chain. Additionally, OR plans to reforest and maintain 10,000 rai of land.
These efforts have earned OR the Highly Commended Sustainability Award at the SET Awards 2024, as well as an AA+ credit rating from TRIS Rating. These accolades further affirm OR’s leadership in sustainability within Thailand and globally.
Balancing Profitability with Purpose
Despite the global uncertainties surrounding the oil and retail industries, OR has successfully demonstrated that profitability and sustainability can go hand in hand. The company’s focus on digital transformation, sustainable practices, and international expansion positions it as a forward-thinking leader in a globalized economy.
“We are not only creating value for our stakeholders but also building a lasting legacy of positive impact for communities and the environment,” said M.L. Peekthong Thongyai.
As OR moves forward with its ambitious plans, it remains committed to delivering meaningful outcomes for all, driving sustainable growth, and making a positive impact on both society and the environment. With a clear vision for the future, OR is well-positioned to shape the next chapter of the oil and retail sectors, advancing both business success and societal progress.