PTG reveals Bt3.5-bn growth plans
PTG Energy is aiming for revenue and volume growth of 20 per cent this year and expand service stations to 2,000 with planned investment of Bt3.5 billion, the company said in a press release on Friday.
Pitak Ratchakitprakarn, President & Chief Executive Officer of PTG Energy, or PTG, reveals the company targets sales volume and revenue will rise by 16-20 per cent, and expects that earnings before interests, tax and depreciation (EBITDA) will surge between 40 per cent and 50 per cent from that of 2018.
The company said it plans to increase sales of existing service stations and expand more stations to 2,000 from 1,884 stations last year. It 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 (Bt1,879-Bt2,035) a barrel, based on estimates by EIA and local refineries.
For 2019, the company sets aside an investment budget of Bt3.5 billion, comprising of Bt2.5 billion for oil and oil-related business, Bt500 million for non-oil business and another Bt500 million for new businesses.
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 per cent 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.