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PTT’s retail business reports 54.3% increase in revenues in 2022

PTT's retail business reports 54.3% increase in revenues in 2022
Photo courtesy of PTT Oil and Retail

PTT Oil and Retail Business Plc. (OR), Thailand’s leading oil and retail operator reported sales and service revenue of USD22.8 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 said it will invest USD900 million in 2023 to expand and bolster the business value chain of the company’s mobility and lifestyle business platforms in Thailand and overseas.

As of 2022, OR operated 2,551 gas stations known as ‘PTT Station’ across Asia, as well as its flagship ‘Cafรฉ Amazon’ chain, which is now the world’s sixth largest coffeehouse chain with more than 380 million cups of beverage sold each year. Through a unique franchise system, OR has created robust and long-lasting collaborations with international partners for the sustainable expansion of PTT Station and Cafรฉ 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 OR 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.

It is also collaborating 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,” said Disathat.