PTT’s retail business reports over 50% income growth in Thailand

Positive numbers from 2022 will see a $900 million investment for local and international business in 2023.

Thailand's leading oil and retail operator PTT Oil and Retail Business reported sales and service revenue of USD 22.8 billion in 2022, an increase of 54.3% from the previous year, following a strong rebound in domestic tourism and post-pandemic economic recovery.

The company has earmarked USD 900 million for investment in 2023 in for both its local and international businesses.

As of 2022, PTT operated 2,551 gas stations across Asia as well the 'Café Amazon' chain, now the world's sixth largest coffeehouse chain with over 380 million cups of beverage sold each year. Through a unique franchise system, PTT has created robust and long-lasting collaborations with international partners for the sustainable expansion of PTT Station and Café Amazon branches in 11 countries globally.

“The overall sales volume of all our business segments in 2022 were at their rise, resulting in 54.3% increase in sales and service incomes, while maintaining our leading position in the industry, with a market share of 43.2%,” said PTT CEO Disathat Panyarachun.

The company also made a progressive move in embracing the EV transition in Thailand by rolling out 302 "EV Station PluZ" charging locations, with a total of 548 fast chargers, and collaborated with a wide range of partners to expand the EV Station PluZ network to enable convenient consumers' access and become a leader in the EV Ecosystem.

"Looking ahead in 2023, we will focus on synergizing energy and lifestyle businesses to fortify the OR ecosystem through a stronger structure of each business to resonate with the lifestyle of the future, as well as joining forces both within and outside the roof of the PTT Group to achieve sustainable growth together," added Disathat.

In 2023, OR planned to launch new 122 gas stations, 400 Café Amazon branches and 500 EV charging stations in Thailand and international markets.