PTG reveals business plan in Golden Pig Year Targeting revenue and volume growth by 20% Gearing up for expansion to 2,000 service stations and joining up with business partners to create new customer experiences

Stocks and Financial Services Press Releases Friday February 22, 2019 16:45
Bangkok--22 Feb--The Way Communications

"PTG Energy" targets 2019 revenue and volume growth of 20%, aiming to increase EBITDA by 40%-50% and expand service stations to 2,000 with planned investment of 3.5 billion baht in order to maintain the second position in retailed oil market share.

Mr. Pitak Ratchakitprakarn, President & Chief Executive Officer of PTG Energy Public Company Limited, or PTG, reveals the company targets sales volume and revenue will rise by 16-20% and expects that earnings before interests, tax and depreciation (EBITDA) will surge 40%-50% from that of 2018. The company plans to increase sales of existing service stations and expand more stations to 2,000 from 1,884 stations last year. The company will focus on expansion in locations that can facilitate non-oil services to customers. In addition, the company estimates that marketing margin is getting back to a normal situation as crude oil prices stay at a low level of around $60-$65 a barrel, based on estimates by EIA and local refineries.

For 2019, the company sets aside an investment budget of 3.5 billion baht, comprising of 2.5 billion baht for oil and oil-related business, 500 million baht for non-oil business and another 500 million baht for new business.

The company also aims to maintain its market share position as the second biggest player after becoming No. 2 in 4Q/2018. For non-oil business, led by LPG, the company targets to grow by 55-60% from last year. The company also plans to strengthen network of its coffee business.

It will expand franchise of its Punthai Coffee outlet for the first time this year. At the end of 2018, the company had 187 outlets of Punthai Coffee and 82 branches of Coffee World.
Under its three-year business plan (2019-2021), the company will focus on creating new experiences that meet demand of customers. It will soon introduce new and exciting concept of marketing activities.

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