บทวิเคราะห์ (Research)

4Q24 net profit was B18.3bn (close to forecast), growing 2.4%qoq thanks to extraordinary items. In contrast, 4Q24 normalized profit dropped 0.8%qoq to B18bn. Average selling price dropped 2.6%qoq, while sales volume grew and cost decreased. 1Q25 normalized profit may fall qoq due to lower petroleum sales volume, despite higher petroleum price and lower unit cost. Profit is expected to grow further for the rest of 2025