Chairman Message
I extend my heartfelt gratitude to all shareholders for their unwavering trust and support of PTG Energy Group (“PTG”) over the past period. In 2023, we executed our plans with diligence, leading to remarkable achievements and significant progress aligned with PTG's Roadmap for both the Oil and Non-Oil businesses. PTG's oil sales volume through service stations reached a historic high of 5,960 million liters, surpassing the target for the second consecutive year, marking a robust growth of 12.1% compared to the previous year. Notably, this growth outpaced the country's overall oil consumption, which saw a mere 1.2% year-on-year increase. Moreover, our expansion efforts in the non-oil sector have yielded impressive results. The number of PunThai Coffee shops expanded from 511 branches to 882 branches by year-end, representing a remarkable addition of 371 branches—an equivalent of opening one new branch per day. Additionally, the Autobacs car care service center business witnessed sales surge by over 50% compared to the previous year, facilitated by the expansion of branches to cover more service areas. We ended the year with 68 branches, up from 45 branches in the previous year. These achievements underscore PTG's agility in driving rapid growth and highlight the significant potential of our Non-Oil business in creating tangible value.
Mr. Teeranun Srihong
Embracing Growth, Progress, and Modernity: A Year of Innovation and Advancement
In addition to the remarkable growth of our Oil business and the ongoing expansion of our PunThai Coffee and Autobacs car care ventures, PTG has introduced several new innovations over the past year that add significant value for our customers. One such innovation is the Max Enterprise Connect platform, a solution for fuel cost management and car fleet management tailored for entrepreneurs. Leveraging cutting-edge management technology, this platform has garnered widespread acclaim and recognition, including the National Innovation Award for Product and Service Design from the National Innovation Agency (NIA). Furthermore, we introduced the PT Alumax, a lightweight and rust-free aluminum cooking gas tank, which was honored with the "Product Innovation Awards 2023" by Mahidol University in collaboration with Business+ magazine. In terms of new business ventures, PTG recognizes the potential and future opportunities in the digital asset sector. Thus, we have ventured into this domain by launching Maxbit Digital Asset Company Limited in the fourth quarter. This joint venture of PTG aims to tap into our Max World's member base of over 21 million people, providing us with a competitive edge in the digital asset market. These initiatives demonstrate our unwavering commitment to modernizing our organization in every aspect, harnessing technological innovations to enhance our operational efficiency and business capabilities. Moreover, we are keen on nurturing the talents and potential of the new generation, offering them opportunities to thrive at various stages within our organization. As a result, PTG's efforts have been recognized, as we were honored with the Top 50 Dream Company award for the new generation in 2023 by Work Venture. This accolade underscores our organization's strong prospects for the future and the confidence that the younger workforce places in us.
Fostering Sustainability: A Year of Advancements in Management
PTG is committed to conducting business responsibly and considering the interests of all stakeholders. We integrate sustainability management into our corporate strategy to ensure alignment with our objectives. We strive to collaborate with local farmers across various regions, offering diverse products such as five varieties of mangoes from northern farmers, provided as complimentary items at our service stations. We also source organic sweet corn 2 from the Suwan Farmers Group, mini mangoes from southern farmers, and Ma-peed oranges from eastern farmers, which are used as ingredients in our coffee and new beverage offerings at PunThai Coffee Shop. Furthermore, we actively engage in community, social, and environmental initiatives through our ongoing project "PT Volunteer Camp." This includes activities like providing free eyeglasses to the elderly in the Ta Sawang initiative, awarding scholarships to deserving students, and participating in reforestation efforts. Additionally, we are dedicated to operating renewable energy ventures to mitigate future carbon dioxide emissions. This involves initiatives such as installing electric vehicle charging stations (Elex by EGAT PT) in collaboration with the Electricity Generating Authority of Thailand (EGAT), developing a 4.5-megawatt waste-to-energy power plant in Ban Phru Subdistrict, Songkhla Province, and implementing rooftop solar projects at PT service stations. We have also initiated community waste management projects in the past year. As a testament to our efforts, PTG was honored with the prestigious global award for "Best ESG Responsible Executive Team Thailand 2023" by CFI.co (Capital Finance International) in the UK, recognizing our executive team's outstanding commitment to environmental, social, and governance responsibilities in Thailand.
2024: Building on Success with Determination
We remain steadfast in our vision to empower everyone to lead a fulfilling and prosperous life in all aspects. As we step into 2024, our commitment to building on the successes of the previous year remains unwavering. We are dedicated to introducing new products and services that add value to both our customers and society as a whole. Furthermore, we are focused on strengthening our sustainability management practices, ensuring accountability, and considering the needs of all stakeholders. The Board of Directors, executives, and every member of the PTG team will leverage their expertise, skills, and experiences to diligently execute the strategic roadmap and achieve our goals with determination.
On behalf of the Board of Directors, I extend my sincere gratitude for your unwavering confidence and steadfast support. Whether you are shareholders, customers, collaborators, business partners, financial institutions, government agencies, executives, members of the PTG team, or any other stakeholders, your contribution is invaluable. I firmly believe that each of us plays a crucial role in propelling our nation forward. By collaborating harmoniously, we can achieve our collective vision. Together, we can foster a robust and sustainable economy, ensuring that all Thai citizens enjoy a life of prosperity and happiness.