(MENAFN- media OutReach Newswire)
BANGKOK, THAILAND –
Media OutReach Newswire - 27 December 2024 – PTT Oil and Retail Business Public Company Limited (OR) is driving international growth and sustainable innovation, leveraging its diverse portfolio to navigate volatile global markets. Amid geopolitical uncertainties and fluctuating oil prices, OR has posted robust financial results and unveiled a strategic roadmap aimed at transforming its business for a sustainable and inclusive future.
For the first nine months of 2024, OR reported a net profit of 4.65 billion THB and sales revenue of 538.05 billion THB, driven by standout performances in its Lifestyle and Global business groups, which grew by 8.1% and 11.6%, respectively. These results reflect OR's resilience and ability to adapt while positioning itself as a forward-thinking industry leader.
Expanding Horizons: International Growth Strategy
OR's operations now span 11 countries-Cambodia, Laos, Philippines, Vietnam, Singapore, Myanmar, Malaysia, Japan, Oman, Saudi Arabia, and the Kingdom of Bahrain-underscoring its ambition to become a global leader in the oil and retail sectors. With 411 PTT Stations and 382 Café Amazon outlets across Southeast Asia, OR is building a strong regional presence.
To meet rising clean energy demand, OR is rapidly expanding EV Station PluZ, its electric vehicle charging network, supporting the region's transition to sustainable mobility. Concurrently, PTT Lubricants is prioritizing growth in Indonesia and Taiwan, building on its established presence in over 40 countries across Asia, Africa, and Europe.
Cambodia has emerged as a key market with 183 PTT Stations and 248 Café Amazon outlets, while the Philippines and Laos host 170 and 58 PTT Stations, respectively. Café Amazon, known for consistent, high-quality coffee, continues to thrive internationally, cementing OR's presence in high-potential markets.
To fuel its expansion, OR has committed 8 billion THB over the next five years (2024–2028), focusing on clean energy, infrastructure development, and global opportunities. This strategic investment aligns with OR's vision of taking its sustainability-driven business model to the global stage.
"We aim to create shared value for communities while delivering superior experiences to customers worldwide." said M.L. Peekthong Thongyai, Chief Executive Officer of PTT Oil and Retail Business Public Company Limited.
Strategic Roadmap: Resilience and Transformation for 2025
Looking forward, OR has outlined a strategy emphasizing efficiency, innovation, and risk management:
Cost Optimization : Reducing operating expenses through stringent cost-control measures strategic asset ownership and operation strategy.
Risk Management : Enhancing operational stability with a Dashboard Control Tower to address fluctuating commodity prices.
Digital Transformation : Deploying a Digital Blueprint to modernize operations and connectivity among OR investments and ventures to elevate customer engagement.
Portfolio Optimization : Streamlining investments to prioritize high-return ventures and discontinuing underperformed and non-synergy projects.
These initiatives reflect OR's dedication to evolving its business model to meet the demands of a dynamic global landscape.
Sustainability as a Driving Force
Sustainability remains central to OR's operations, aligned with its OR 2030 goals to:
Reduce greenhouse gas emissions and waste by one-third.
Improve the quality of life for 17,000 communities (16,000 already impacted).
Integrate 1 million SMEs into its value chain (currently 743,102 SMEs).
Reforest and maintain 10,000 rai of land.
These efforts earned OR the Highly Commended Sustainability Award at the SET Awards 2024 and an AA+ credit rating from TRIS Rating, solidifying its position as a sustainability leader in Thailand and beyond.
Balancing Profitability and Purpose
Amid global uncertainty, OR has demonstrated that resilience, innovation, and sustainability can coexist. By embracing digital transformation, advancing sustainable practices, and pursuing international growth, OR is redefining the role of oil and retail businesses in a globalized economy.
"OR's ability to balance profitability with purpose sets a new standard for the industry" said M.L. Peekthong Thongyai. "We are not only creating value for our stakeholders but also building a legacy of positive impact for communities and the environment."
As OR embarks on its next chapter, it remains steadfast in its mission to drive sustainable growth and deliver meaningful outcomes for all. With its sights set on global leadership, OR is poised to shape a future where business success and societal progress go hand in hand.
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