OR Sets New Global Standards with Visionary 2024 Sustainability and Growth Plan

Friday 26 April 2024 10:32
As a leader in the energy and retail landscapes with operations across 11 countries, PTT Oil and Retail Business Public Company Limited ("OR") is set to launch a series of strategic initiatives in 2024 aimed at fostering innovation, promoting sustainability, and expanding its international presence. Building on a solid foundation of growth and sustainability achievements, OR remains committed to enhancing community well-being and environmental stewardship as pivotal aspects of its operations.
OR Sets New Global Standards with Visionary 2024 Sustainability and Growth Plan

2023: A Testament to Sustainable Excellence and Strategic Growth

The past year has been a significant one for OR, marked by a net profit increase of 7.0% to 11,094 million baht. The company's dedication to sustainability and corporate excellence received global accolades, earning OR the prestigious top spot among retailers in the Dow Jones Sustainability Indices (DJSI). This recognition affirms the commitment to environmental stewardship, social responsibility, and governance, as new business avenues are explored and consumer experiences are improved while maintaining dedication to sustainable growth.

A Visionary Roadmap for 2024

Looking ahead to 2024, OR is geared up to not only reinforce its core business areas but also embrace new opportunities for expansion and innovation across the globe. A significant part of the strategy includes ambitious growth plans for foundational businesses — a commitment to increasing the number of PTT Station by at least 100 stations per year and expanding the Cafe Amazon network by at least 300 outlets, annually. This expansion reflects dedication to enhancing accessibility and providing superior service to customers, further cementing the position as a leader in the retail and energy sectors. Alongside the strategic entry into the health and beauty market through partnerships with industry leaders Sugi Holdings Company Limited and Konvy, these initiatives signify a pioneering step towards redefining the consumer experience. The introduction of our first Health & Beauty store in Bangkok in mid-2024 is set to mark a new era in retail innovation, demonstrating a dynamic approach to growth and an unwavering commitment to meeting the evolving needs of consumers.

Cafe Amazon Park in Lampang: A Beacon of Sustainability

The Cafe Amazon Park project in Lampang, a province in the north of Thailand, represents a key aspect of the commitment to sustainability and community development. This initiative aims to create a sustainable ecosystem for the Cafe Amazon value chain, from production to consumption, underlining dedication to environmental conservation and enhancing the well-being of local communities. OR is promoting sustainable coffee cultivation projects in Mae Chaem District of Chiang Mai Province and Pua District of Nan Province. The company prioritize quality product development while conserving the environment. Additionally, coffee beans are procured directly from farmers at fair prices through the milling plant in Mae Wang District, Chiang Mai Province.

CEO's Vision for the Future

"Our journey in 2023 has laid a solid foundation for what promises to be a groundbreaking year in 2024," stated Mr. Disathat Panyarachun, Chief Executive Officer, PTT Oil and Retail Business Public Company Limited ("OR"). "As we expand our horizons into new markets and initiatives, our focus remains steadfast on innovation, sustainability, and global collaboration. The international expansion, particularly in the health and beauty sector, alongside sustainable projects like Cafe Amazon Park, reflects our vision to lead with purpose and make a positive impact on a global scale. We are committed to leveraging our strengths to contribute to the global community, fostering growth and sustainability beyond borders."

Global Strategy Insight

"In line with our global aspirations, we are keenly focused on cultivating strategic partnerships and expanding our international footprint," shares Mr. Disathat. "Our approach is not just about entering new markets but about creating value that resonates on a global scale. We aim to leverage our success in sustainability and innovation as a model for international growth, setting new standards for excellence in the energy and retail sectors worldwide. This vision is integral to our strategic planning, as we explore opportunities that align with our core values and commitment to making a meaningful impact across the globe."

First Quarter Triumphs and Strategic Focus in Cambodia

The initial months of 2024 have been marked by noteworthy achievements for OR, particularly highlighted by receiving the prestigious International Finance Award 2023 for 'Best Fuel Station Service Provider' in Cambodia. This recognition is a testament to the relentless pursuit of excellence and innovation in service delivery. Significantly, Cambodia stands as a pivotal second home base for OR, reflecting not only a major source of revenue but also a testament to a successful international strategy and deep commitment to the region. OR is strategically expanding oil depot infrastructure in Cambodia to support its energy needs and economic growth. This enhances operational capabilities and underscores Cambodia's crucial role in growth and potential.

Looking Ahead with a Global Perspective

Moving forward, OR is more committed than ever to the mission of fostering innovation, embracing sustainability, and enhancing community well-being on an international scale. Strategic initiatives for 2024, including expansion into the health and beauty market and the development of sustainable projects like Cafe Amazon Park, are designed to propel the journey towards becoming a global leader in the energy and retail sectors. Dedication remains unwavering to building stronger connections across the globe, enriching lives, and contributing to a sustainable future for all.

About PTT Oil and Retail Business Public Company Limited (OR)

PTT Oil and Retail Business Public Company Limited (OR) is a leading force in the energy and retail sectors, with a presence in 11 countries that showcases a dedication to innovation, sustainability, and enhancing quality of life. Our network includes PTT Station, Cafe Amazon outlets, and EV Station PluZ, demonstrating our commitment to growth and development that benefits all. Additionally, OR's PTT Lubricants are distributed in more than 40 countries, further extending our reach and impact in providing high-quality energy solutions.

Source:  PTT Oil and Retail Business Plc. (OR)