PTG Energy expects 15-20% revenue growth as it sets up

The company also plans to expand the number of PT stations to 1,200 nationwide. Recently, the company has been opening LPG stations and expects to have a total of 30 selling liquefied petroleum gas, mostly in the Bangkok Metropolitan Region, PTG president and chief executive officer Pitak Ratchakitprakarn said.

He added that the company was maintaining its goal of expanding earnings before interest, taxes, depreciation and amortisation (EBITDA) of 30-40 per cent year on year. In the first three months of the year, PT stations sold 572 million litres of petrol.

Also, PTG is in the process of building its 10th tank farm in order to cover all of the country’s regions with its petrol-distribution network. Moreover, the company is establishing a palm-oil complex through a joint venture. The complex will produce biodiesel and other palm-oil products.

This year, PTG plans to set up 250 new petrol stations, of which 220 will be operated by the company itself and 30 by agencies.

Pitak said the company was managing its costs well, which contributed to the skyrocketing profits in the first quarter – 61 per cent over the same quarter last year. Although the crude-oil situation in the world market remains unstable, the company believes that it will still be able to manage its expenses efficiently for the rest of the year.

In the first quarter, the company reported revenues from sales and services of Bt14.38 billion, increasing by Bt823 million or 6.1 per cent year on year. EBITDA was Bt406 million, up by Bt127 million or 45.4 per cent. Net profits were Bt165 million, soaring by Bt63 million or 61.0 per cent.