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A Significant Increase of Stock Gain in 1Q21 Boosts OR’s Earnings to Record over ฿4Bn!

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A Significant Increase of Stock Gain in 1Q21 Boosts OR’s Earnings to Record over ฿4Bn!

PTT Oil and Retail Business Public Company Limited (OR) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

OR reported a net profit of 4,003 million baht in 1Q21, increased 110.88% from a net profit of 1,898 million baht in 1Q20. The increase was mainly contributed by a stock gain of 3,613 million baht in 1Q21, compared toa stock loss of 3,014 million baht in 1Q20.

 

For the oil business segment, the revenue from sales and services fell by 11,514 million baht (-9.5%) due to the decrease(-10.8%) in overall sales volume. The main reason was a drop in aviation fuel sales volume from the COVID-19 pandemic that had a considerably more substantial impact on 1Q21 than1Q20.

For the retail market, sales volume increased due to the net network expansion of 85 service stations in Thailand and the COVID-19 control measures implemented in some high-risk areas causing only a slight negative effect on demand.

Also, the average selling prices increased following an uptrend of the Dubai crude which rose(approximately +20%) sharply over the course of three months

 

Gross profit increased by 2,535 million baht (+48.9%). For the retail market, both sales volume and gross profit per liter increased. For the commercial market, the gross profit per liter decreased mainly from aviation fuel attributable to the M-1 selling price structure.

The oil price painted an uptrend for1Q21 while depicting a downtrend for the same period last year.On the other hand, other main petroleum products from the commercial market, such as gasoline and diesel, had higher gross profit due to higher average selling prices in 1Q21.

In addition, there was a stock gain of 3,613 million baht in 1Q21, compared to the same period last year, where we experienced a stock loss of 3,014 million baht.

 

As for the non-oil business segment, revenue from sales and services decreased by 187 million baht (-4.4%). This was attributable to a decrease in the other non-oil businesses in the amount of 396 million baht (-22.3%), primarily from a drop in sales from the convenience stores and revenue from the space management business as a result of lower demand pressured by the new COVID-19 outbreak in December 2020, which impacted the Thai economy and consumer purchasing power, and partly offset by the increase from the F&B business in the amount of 209 million baht (+ 8.3%) from outlet expansion and increase in sales revenue.

 

Gross profit slightly decreased by 16 million baht (-0.7%), in line with the change in revenue from sales and services from both the F&B business and other non-oil businesses.

The post A Significant Increase of Stock Gain in 1Q21 Boosts OR’s Earnings to Record over ฿4Bn! appeared first on ข่าวหุ้นธุรกิจออนไลน์.

ที่มา: ข่าวหุ้นธุรกิจออนไลน์

วันที่ May 11, 2021, 23:18

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