OR reported its operating results for the first quarter of 2026, posting a net profit of THB 2.415 billion, up 16.2% quarter-on-quarter, with earnings per share of THB 0.20. EBITDA rose 59.8% quarter-on-quarter to THB 7.1 billion, driven by improved performance across all business segments, despite continued volatility in global energy markets. The company also reaffirmed its commitment to expanding the OR Ecosystem and investing in infrastructure to support future growth.
M.L. Peekthong Thongyai, Chief Executive Officer of PTT Oil and Retail Business Public Company Limited (OR), said that in the first quarter of 2026, the company recorded sales and service revenue of THB 176.125 billion, an increase of THB 20.59 billion, or 13.2%, from the previous quarter. Net profit amounted to THB 2.415 billion, up 16.2% quarter-on-quarter, while EBITDA increased by THB 2.657 billion, or 59.8%, to THB 7.1 billion. Growth was recorded across all business segments, particularly the Mobility business, which increased by 59.8%, However, the average gross profit per liter decreased, primarily due to government price stabilization measures that limited retail price adjustments amid rising costs. Furthermore, the results were affected by losses from hedging activities.
In particular, Café Amazon recorded total sales of 112 million cups during the quarter, an increase of 3 million cups, or 2.8%, from the previous quarter. Meanwhile, the global business segment reported growth of more than 100%, mainly driven by operations in the Philippines, where diesel margins improved, and in Laos, supported by higher average gross profit per liter across all product categories.
OR has maintained its “AA+” corporate credit rating with a stable outlook from TRIS Rating for the fourth consecutive year, reflecting the company’s strong financial position, leading market share in Thailand’s petroleum retail market, and the solid performance of its lifestyle business, which continues to support profitability. During the quarter, OR also expanded its investment in infrastructure through Modulus, an OR subsidiary, which acquired a 55.41% stake in Thai Pipeline Network Co., Ltd. (TPN), an operator of a pipeline transportation system connecting Saraburi Province with Thailand’s northeastern region. The investment is intended to strengthen infrastructure capabilities, enhance operational efficiency, and improve the competitiveness of OR’s mobility business to support sustainable long-term growth.
OR’s first-quarter 2026 performance reflects the company’s strong management capabilities amid ongoing uncertainty in global energy markets. This was driven by comprehensive risk management, as well as effective cost and expense controls, enabling the company to maintain business stability and profitability over the medium to long term. The results are in line with OR’s vision of “Empowering All toward Inclusive Growth” and its commitment to sustainable growth.
“OR remains committed to standing alongside the Thai people in all circumstances, particularly amid volatility arising from conflicts in the Middle East, through its full efforts in oil supply management to ensure that the public has sufficient and accessible energy resources. The company will also continue advancing strategies to strengthen the OR brand and reinforce the country’s energy security,” M.L. Peekthong added in conclusion.
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