บทวิเคราะห์ (Research)

1Q25 net profit grew 43.2%qoq to B4.4bn. For mobility business, average gross profit per liter rose from B0.83 to B1.02 thanks to higher gross margin from jet fuel and better cost control, but oil sales volume dropped qoq after high season ended. Lifestyle business recovered because underperforming projects were discontinued (sold off) and Cafe Amazon sales volume grew owing to sales promotion. For global business, oil sales volume grew qoq (mainly in the Philippines), while performance of overseas Cafe Amazon stayed unchanged qoq. 1Q25 net profit made up 44.0% of 2025 forecast.