Mr. Disathat Panyarachun the CEO of PTT Oil and Retail Business PCL (SET: OR) revealed that the Board of Directors’ resolution on November 14 meeting, approved the 5-year investment plan worth THB 67.4 billion, with 53.8% will be focused on “Mobility” business, 26.6% on “Lifestyle”, 11.9% on “Global” and the rest 7.7% on “Innovation & New Business”.
The CEO said OR core business plans are to maintain its leading position in “Oil Ecosystem” which involves “EV Station PluZ”, Cafe Amazon and other related value chains like, “Health & Beauty”, “Tourism” and other new S-Curves, as OR is also preparing the “Provisional Capital Expenditure” for the next 5 year that has a total worth of THB 16 billion.
As for Q4, the CEO said OR’s PTT Stations and “Energy Solution” are growing as Thailand tourism is recovering. He hoped that the EBITDA of “Global” business will increase to 15% of the total EBITDA, as OR recently expanded and kept growing in Cambodia.
Analysts from Kasikorn Securities mentioned that OR price has been increasing in recent days, due to market expectation for its Q4 financials that referred to its Q3 diesel marketing margin that is still higher than THB 2.1 per liter, as the diesel gas makes up to 50% of OR total gas sales.
Moreover, data from Refinitiv consensus estimated OR net profit for 2023 at THB 12.2 billion with average target price at THB 22.84 from 15 firms, as OR Q3 reported its net profit at THB 5.2 billion, a 637% YoY increase.
