Strong Quarterly Recovery Despite Annual Profit Dip
PTG has reported a mixed financial performance for the second quarter of 2025, with a net profit of THB312 million. While this figure represents a 33.2% decline from the same period last year, the company demonstrated a significant and encouraging quarter-on-quarter recovery, with profit soaring by 68.3%. This rebound was largely attributed to seasonal factors, such as the agricultural season and long holidays in April, which drove increased activity. The company’s oil sales volume, although down slightly year-on-year, showed a healthy 2.0% increase from the previous quarter. Furthermore, strategic initiatives, including the renovation of urban service stations and strong loyalty from PT Max Card and Max Card Plus members, fueled increased personal vehicle usage, with gasoline sales seeing higher growth than diesel, contributing to the positive momentum for the quarter.
Non-Oil Business and PunThai Coffee Drive Growth
The star performer in PTG’s portfolio was its robust non-oil business, which delivered a strong expansion and was the primary driver of the company’s gross profit increase. Total revenue from this segment surged to THB5,621 million, marking a remarkable year-on-year growth of 35.7%. This phenomenal growth was spearheaded by the PunThai Coffee business, which saw its revenue more than double, jumping by 135.6% year-on-year. This success was a direct result of an aggressive and effective branch expansion strategy, which saw the number of outlets grow by nearly 60% to a total of 1,642, with an average of more than 1.7 new stores opening daily. PunThai also enhanced its offerings with modernized store models and a diverse, customizable menu, further strengthening customer loyalty and driving significant revenue gains.
Share of Profits and Regional Recognition
Beyond its core operations, PTG also saw a significant increase in its share of profits from investments in associates and joint ventures, which surged by 91.5% year-on-year to THB75.4 million. This was largely due to the improved performance of the palm complex business under PPP Green Complex Public Company Limited (PPPGC), which returned to profitability following more efficient cost and production management. The company’s focus on scaling its non-oil business and executing effective cost management strategies is aimed at enhancing its long-term competitiveness. In a notable sign of its growing stature, PTG was ranked 48th in the Fortune Southeast Asia 500 for 2025, a 10-place improvement from the previous year. This recognition underscores the company’s solid and sustainable growth trajectory and its increasing influence at a regional level.
