Energy/PTG

Editorial staff

SET-listed PTG Energy Plc (PTG), a local oil retailer, will keep more focus on expanding non-oil business to reach more customers this year, aiming to be an important contributor of gross profit for the group by 2028.

Pitak Ratchakitprakarn, the company’s chief executive officer, said that the company will spend 6-7 billion baht to expand its business this year. Of the total, two-third of the budget will gear toward non-oil business and the remaining one-third for oil business. Approximately 4 billion baht will be spent in the first half of this year and the remaining for the second half of this year.

Pitak Ratchakitprakarn

For non-oil business, it plans to open around 600 new Punthai Coffee shops, located in both inside and outside its petrol station, brining its total number to 1,947 this year, up from 1,347 in 2024. About 78% of the total, or 1,056 outlets, are under its own investment concept.

Currently, 49% of Punthai Coffee shops are available in Central region, 22% in Northeastern, 11% in Eastern and the remaining are across other regions.

In addition to coffee chain business, the company also plans to open 40-50 Subway restaurants, as well as to expand Autobacs auto service business. Currently, Autobacs’s sales are 2 billion baht per year and the business is more room for growth because its market size is huge, valued at 40-50 billion baht annually.

Mr Pitak said PTG’s revenue from non-oil business grew by 31.2%, 10 times more than GDP growth. Gross profit of non-oil business for 2024 also increased by 35% year-on-year, thanks to growing Punthai coffee business. Revenue of Punthai coffee up to 75% came from Max Card and Max Card Plus holders. The company expects to increase Max Card and Max Card Plus holders to 26 million, from over 25 million last year.

Rangsan Puangprang

“We aim to transform from a vehicle fuel business into a people fuel business, making the non-oil business become a gross profit contributor of 50% of our portfolio within the year 2028, up from last year of 25%. However, major revenue over the next ten years remains from oil business,’’ Rangsan Puangprang, the company’s chief finance and sustainability officer, said.

Of the total 50% contribution, a half will come from food and beverage and the remaining 25% from other businesses such as hire purchase and finance.

To drive sustainable business growth, the company will rely on data from Max Card and Max Card Plus to fulfil new businesses, which show its growth. For example, it plans to open “Giga’’ EV charging station at Wanghin, Latphrao, in the coming months. Here, it will be the first prototype station that provides only EV charging station, food and drink as well as Autobacs. If demand of EV vehicles is stable, more stations will be added.

Beyond this, the company will increase more convenience via hire purchase for used commercial vehicles. For petrol station business, 10 new openings will be under its plan, including 60-70 existing petrol stations under renovation plan to keep them fresh and bigger.

Mr Pitak adds that the company plans to list its 7-8 subsidiaries on the stock market, starting from this year.

In addition to business growth, Mr Rangsan adds that the company also aims to be Carbon Neutrality within 2030 via three strategies by driving internal decarbonization and reforestation, as well as deploying investment in a carbon offset portfolio.