PTT Oil and Retail Business Public Company (OR) H2 2024 earnings summary

Executive summary

• Achieved total sales revenue of THB 723,958 million in 2024, with EBITDA of THB 17,666 million and net income of THB 7,650 million.

• Mobility business contributed 89.2% of sales revenue, with 2,754 stations and 3.9 million daily visitors.

• Café Amazon expanded to 4,851 outlets, selling 432 million cups annually.

• Significant progress in community development, environmental management, and renewable energy initiatives.

Financial highlights

• Total revenue for 4Q24 increased 5.5% QoQ but declined 3.5% YoY and 5.9% YTD.

• EBITDA for 4Q24 surged over 100% QoQ and 93.7% YoY, but fell 16.7% YTD.

• Net profit for 4Q24 rose over 100% QoQ and YoY, but dropped 31% YTD.

• Mobility segment revenue up 5.9% QoQ, down 4.6% YoY, and down 7.4% YTD.

• Lifestyle segment revenue up 7.3% QoQ, 8.5% YoY, and 8.2% YTD.

• Global segment revenue down 4.6% QoQ, up 8.5% YoY, and up 10.9% YTD.

Outlook and guidance

• Thailand GDP growth forecasted at 2.3–3.3% for 2025, with inflation at 1.3%.

• Global oil prices expected to range $73–79 per barrel in 2025.

• Supportive factors include tourism recovery and gradual export growth; risks include high costs, energy crisis, and geopolitical uncertainty.