PTT Oil and Retail Business Public Company Limited (SET: OR) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
3,845.11 | 4,003.20 |
| Earning Per Share (Baht) |
0.3200 | 0.3800 |
| % Change | -3.95 | |
OR reported a net profit of THB 3,845 million in 1Q22, slightly decreased by 3.95% from a net profit of THB 4,003 million in 1Q21.
The company reported that revenue from sales and services rose by THB 55,492 million (+50.4%) due to the sharp increase in average selling prices following an uptrend of global oil prices compared to 1Q21 and the overall sales volume rose 814 mml (+13.8%) due to the relaxing control measures of COVID-19, while it was stringent during 1Q21.
Gross profit dropped by THB 74 million (-1.0%) from the decrease in average gross profit per liter by 0.17 baht/liter, although sales volume increased. The drop was from the retail market, particularly from diesel due the alleviation initiative for the Thai people in times of hiking global oil prices, which affected the retail price adjustments at the service station, resulting in lower average gross profit per liter. While, the average gross profit per liter in gasoline increased from effective cost and selling price management.
EBITDA fell by THB 392 million (-7.6 %) from lower gross profit and higher net operating expenses from the service cost of the aviation depot and aviation refueling expense that increased following higher sales volume. In addition, the promotion expense was also higher during this quarter. Hence, the 1Q22 EBITDA margin was at 2.9%, a reduction from 4.7% in 1Q21.
Cafe Amazon, under the F&B business, recorded 83 million cups sold in this quarter, a decrease of 4 million cups (-4.6%) compared to 4Q/21, because the end of the year is the high season for traveling in Thailand.
