OR Q1/69 Profit Down 44.9% to 2,415 Million Baht

MGR Online•Economy•18d ago

Reader Briefing

PTT Oil and Retail (OR) reports a significant 44.9% year-on-year profit decline in Q1/69, despite revenue growth from the previous quarter, due to global energy market volatility and price controls.

•PTT Oil and Retail (OR) announced its first-quarter 2026 net profit was 2,415 million baht, a 44.9% decrease from the same period last year.
•Despite the profit drop, OR's revenue from sales and services increased by 13.2% from the previous quarter.
•The company cited global energy market volatility, price control measures impacting the Mobility segment, and risk management losses as key factors affecting profitability.
•OR maintained its corporate credit rating of 'AA+' with a stable outlook from TRIS Rating, reflecting its strong financial position and market leadership.

Overview

•OR announced its Q1/2026 financial results.
•OR reported a net profit of 2,415 million baht in Q1/2026, a decrease of 44.9% from the previous year, but an increase of 16.2% from the previous quarter.
•Mom Luang Piekthong Thongyai stated that OR's Q1/2026 performance reflects strong management amidst global energy uncertainty.
•OR's revenue from sales and services in Q1/2026 was 176,125 million baht, down 3.5% year-on-year but up 13.2% from the previous quarter.
•EBITDA in Q1/2026 stood at 7,100 million baht, up 9.5% year-on-year and 59.8% from the previous quarter, driven by all business segments.
•The Mobility business profit margin declined due to price control measures preventing price adjustments to reflect costs and risk management losses.
•The Lifestyle business saw a 19.9% increase from the previous quarter, with Café Amazon selling 112 million cups.
•The Global business increased by over 100% from the previous quarter, primarily from the Philippines and Laos, due to higher gross profit per liter on diesel and improved margins on all products, respectively.
•OR invested in Thai Pipeline Network Co., Ltd. (TPN) by a subsidiary holding a 55.41% stake to strengthen infrastructure, improve operational efficiency, and enhance competitiveness for the Mobility business.

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Key Quotes

Mom Luang Piekthong Thongyai

"The Q1/2026 operating results reflect the organization's strong management amidst global energy uncertainty, with comprehensive risk management and efficient cost and expense control to maintain business stability and profit margins in the medium and long term."

ผลการดำเนินงานไตรมาสแรกปี 2026 สะท้อนความแข็งแกร่งในการบริหารองค์กรท่ามกลางความไม่แน่นอนของพลังงานโลก ด้วยการบริหารความเสี่ยงอย่างรอบด้าน และการควบคุมต้นทุนและค่าใช้จ่ายอย่างมีประสิทธิภาพ เพื่อรักษาเสถียรภาพและอัตรากำไรของธุรกิจในระยะกลางและยาว

Key Entities

Organization

ORℹ️

PTT Oil and Retail Public Company Limited, a key player in Thailand's petroleum and retail markets, reporting financial results and strategic investments.

PTT Oil and Retail Business Public Company Limited(บริษัท ปตท. น้ำมันและการค้าปลีก จำกัด (มหาชน))ℹ️

The full legal name of OR, a major energy and retail conglomerate in Thailand.

TRIS Rating(ทริสเรทติ้ง)

A credit rating agency that has assigned OR an 'AA+' rating with a stable outlook.

Thai Pipeline Network Co., Ltd.(บริษัท ไทยไปป์ไลน์ เน็ตเวิร์ค จำกัด)

A company involved in oil transportation via pipeline, in which OR has made a strategic investment.

Modulus

A subsidiary of OR that invested in Thai Pipeline Network Co., Ltd. (TPN).

Café Amazon

A coffee shop chain operated by OR, which saw a significant increase in sales volume.

Person

Mom Luang Piekthong Thongyai(หม่อมหลวงปีกทอง ทองใหญ่)

Chief Executive Officer of PTT Oil and Retail (OR), providing commentary on the company's financial performance and outlook.

Place

Philippines(ประเทศฟิลิปปินส์)ℹ️

A country where OR's Global business segment saw improved profit margins on diesel.

Lao PDR(สปป.ลาว)ℹ️

A country where OR's Global business segment experienced improved profit margins across all products.

Saraburi Province(จังหวัดสระบุรี)ℹ️

A province in Thailand from which the pipeline network operated by Thai Pipeline Network Co., Ltd. originates.