PTT OIL AND RETAIL BUSINESS GENERAL LIMITED OR STOCKS Operating results were reported to the Stock Exchange of Thailand stating that operating results in 2023 or net profit of 11,094 million baht, an increase of 724 million baht over the same period last year or 7.0% growth from EBITDA increase of 598 million baht. Baht, although selling income and services decreased by 20,561 million baht, mainly due to lower oil selling prices following a decline in oil prices on the global market. Although the company's oil sales volume has increased after the economic recovery of the entire country. And abroad in the region, including the return of the tourism sector. As a result, sales volumes have increased significantly in aviation fuel products.
As for the average gross profit per liter for the mobility business group, it was at a similar level. Global business groups decreased according to market conditions. The Lifestyle business group has continued to grow. Including net operating expenses, it increased by 4.8%, mainly from expenses that vary with increasing sales volume, such as third-party wages. Utility expenses, etc., as well as gains from lower exchange rates as the baht appreciated slightly and there was a reduction in losses from derivative instruments.
In addition, there are financial costs that increase with market interest rates. From the above key factors, in 2023, OR will have a slightly better net profit. This represents earnings per share of 0.92 baht, an increase of 7.0% from 2022.
As for the operating results for the fourth quarter of 2023, the company’s sales and service income reached 192,542 million baht, an increase of 982 million baht (+0.5%) from the previous quarter. This was mainly due to an increase in the turnover of the Mobility Business Group and the Lifestyle Business Group, which resulted in the Mobility Business Group's sales and service income in the quarter increasing by 0.5%, despite a decrease in the average selling price in line with oil prices in the global market. Because of the supply volume of oil continues to increase. Including concerns about the economy China is pressuring oil demand from the manufacturing sector The industry in China remains on a slowing trend, with the Lifestyle business group rising by 6.6%, mainly due to increased sales volume due to seasonal factors. However, the global business group declined by 7.6% mainly due to lower oil sales volumes in the Philippines.
In Q4/23, EBITDA was 2,523 million baht, a decrease of 5,023 million baht (-66.6%) compared to Q3/66, a decline from the Mobility Business Group from the overall average gross profit per liter which decreased . This is in line with the trend of oil prices in the global market. Similar to the Global Business Group, average gross profit per liter decreased mainly in the Philippines and Lao People's Democratic Republic, while for the Lifestyle Business Group, it increased from the Retail and Food and Beverage businesses.
For the big picture, net operating expenses increased. This is mainly due to the decline in other revenues from PTT Group's supply chain cooperation, including foreign wages. The increase in public relations costs slightly weakened the share of gains from investments (share of gains from investments). This quarter there was a loss of foreign exchange. The derivative instruments generated in the fourth quarter of 2023 achieved a net profit of 193 million baht, a decrease from the previous quarter of 4,977 million baht (-96.3%) and an EPS of 0.02 baht.
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