SET-listed oil trader and retailer PTG Energy says it has the second most petrol stations in the country, surpassing Bangchak Corporation.
Citing a report from the Energy Business Department, PTT Oil and Retail Business remained the market leader with a 38% share, while PTG climbed to 15.3% in the first quarter, up from 13% in the fourth quarter of 2018.
For the period, Bangchak had a 14% market share, with other competitors such as Shell, Esso and Caltex with 10-11% market share each.
Pitak Ratchakitprakarn, president and chief executive of PTG, said the company increased oil sales volume from 2018 and expanded marketing promotions directly to motorists to grow the customer base.
PTG has seen many energy companies exiting liquefied petroleum gas (LPG) distribution because of a decline in local demand from motorists and is emphasising benzene and diesel distribution.
Mr Pitak said PTG reported LPG sales volume rose sharply by 55.3% year-on-year to 30 million litres in the first quarter at 1,916 stations.
For the oil retail business, PTG reported the sales for the period stood at 1.11 billion litres for both wholesale and retail channels, up by 17.7% from the same quarter last year.
The oil business made up 94% of PTG's sales volume, he said.
For PTG's financial performance, Mr Pitak said a revenue in the first quarter stood at 28.67 billion baht, up by 16% from the same quarter last year.
Net profit for the period rose by 93% year-on-year to 519 million baht.
PTG's earnings before interest, taxes, depreciation and amortisation rose by 51% to 1.435 billion baht in the first quarter.
He said the significant growth of PTG was driven by aggressive expansion in both oil and non-oil businesses over the past three years amid fierce competition in the oil retail market.
"Net profit, in particular, came from non-oil businesses where margins were higher than oil distribution, which depends on global oil prices and had lower margins," Mr Pitak said.
