PTT Oil and Retail Business Public Company Limited (SET: OR) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
-1,608.75 | 5,169.66 |
| Earning Per Share (Baht) |
-0.1300 | 0.4300 |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
4,650.94 | 10,901.13 |
| Earning Per Share (Baht) | 0.3900 | 0.9100 |
| % Change | -57.34 | |
Revenue from sales and services dropped by THB 16,977 million (-9.5%) due to a decrease in sales volume of 281 mml (-4.2%) and falling global oil prices. The retail market’s sales volume was reduced by 331 mml (-11.3%) for diesel and gasoline, as sales at PTT Stations have not yet returned to normal levels. For the commercial market, sales volume increased by 50 mml (+1.3%), primarily driven by aviation fuel sales, which rose due to expanding sales to existing and new customers, winning additional Out-Out sales bids, and increasing travel.
EBITDA decreased by 5,364 million baht (-94.6%) due to an overall decline in average gross profit per liter by THB 0.75 and reduced sales volume, mainly in the retail market from both diesel and gasoline following the drop in global oil prices. In the commercial market, the average gross profit per liter also decreased, mainly for fuel oil and diesel, in line with the lower global oil prices.
However, aviation fuel gross profit per liter increased due to the M-1 price structure. In this quarter, net operating expenses were higher than 3Q/23 due to higher repairs and maintenance expenses for service stations and promotional expenses. This resulted in an EBITDA Margin of 0.2% for 3Q/24, down from 3.2% in 3Q/23.
In the third quarter of 2024, PTT Station saw an increase in number by 76 stations to 2,279 with EV stations increased by 400 stations to 960.
Meanwhile, Cafe Amazon recorded an increase by 274 outlets in 3Q24 to 4,339 outlets. The number of cup sold also increased 6.5% YoY to 98 million.
