PTG Confirms 10% Earnings Growth in 2H21 due to Accelerated Vaccine Rollout

Mr. Pitak Ratchakitprakarn, President & Chief Executive Officer of PTG Energy Public Company Limited (PTG) revealed the company’s earnings outlook for the second half of this year, stating that profits will grow at least 10%, achieving the benchmark target of 8-12%, with revenue rising significantly due to an improved Covid-19 outbreak situation in Thailand owing to an accelerating vaccine distribution. Therefore, public confidence and the country’s economy, particularly oil consumption, are restored.

Concerning the 2Q21 performance outlook, the company is still being hampered by the third wave of the Covid-19 outbreak. Earnings, on the other hand, are expected to continue growing at the targeted rate. This is due to the fact that several provinces are not considered high-risk areas for the Covid-19 outbreak, and hence can continue to consume oil normally.

Additionally, the company has a growing PT Max membership card base. There are currently 14.8 million card members, and it is predicted that number will reach 18 million this year.