Oil sales may grow sluggishly; OR pushes into beauty-health business

Bangkok, PTT Oil and Retail Business Public Company Limited (OR) revealed operating results for 2023 with a net profit of 11,094 million baht, an increase of 7.0%. For 2024, there are plans to penetrate the Health and Beauty business. To aim to be the leader in the health and beauty retail market. Mr. Disthat Panyarachun, Chief Executive Officer of OR, revealed that operating results for 2023 had a net profit of 11,094 million baht, an increase from the same period last year of 724 million baht or an increase of 7.0% from EBITDA that increased by 598 million baht from Oil sales volume increased in line with the economic recovery of both Thailand and foreign countries in the region. Including the return of the tourism sector. As a result, the sales volume of jet fuel products has increased. However, the selling price of fuel has decreased following the lower world market price. As a result, sales and service income decreased by 20,651 million baht to 769,785 million baht. For the overall performance of the Mobility business group, it remains strong. There was a slight increase in average gross profit per liter. Even though the Global Business Group's overall average gross profit per liter will weaken according to market conditions, in addition, the Lifestyle Business Group is able to create continuous growth, resulting in OR having a net profit per share of 0.92 baht, an increase from 2022. is at 7.0% As for the Global Business Group, OR continues to seek potential partners to seek joint business opportunities in expanding business overseas. and increase diversity in business operations By joining hands with partner K-Nex Corporation, they opened the first convenience store "Otteri Wash and Dry" in Cambodia. This is in line with one of OR's strategies to push Thai SMEs that OR has invested in to grow abroad. In addition, it has expanded Cafe Amazon branches in Japan and Malaysia and also opened the first Cafe Amazon Concept Store abroad. At Vientiane Capital, Lao PDR In terms of community care, OR has develop ed a project to develop sustainable coffee cultivation. Opened a coffee bean processing plant, Cafe Amazon, in Mae Wang District, Chiang Mai Province, as a point of purchase of Arabica shell coffee bean production in the northern region directly from coffee farmers at a fair price. In 2024, OR continues to focus on strengthening its core business as a base for future growth. This year, it plans to penetrate the Health and Beauty business in order to become a leader in the health and beauty retail market. beautiful Create opportunities and increase competitive potential Under the important cooperation between important strategic partners both domestic and international to strengthen the lifestyle. Source: Thai News Agency