Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Equity Bottom-Up

PTT Oil & Retail Business  / Equity Bottom-Up

<ul><li>OR delivered a 2Q23 NP of Bt2.76bn (-58% YoY, -7% QoQ), in line with our projection of Bt2.77bn.</li><li>The core profit marked at Bt2.56bn in 2Q23 (-59% YoY, -15.5% QoQ).</li><li>Its core earnings were pressured on a YoY basis by the mobility business, whose gross margin per liter narrowed to Bt0.96/liter in 2Q23 (vs. the high base of Bt1.61/liter in 2Q22).</li></ul>

OR delivered a 2Q23 NP of Bt2.76bn (-58% YoY, -7% QoQ), in line with our projection of Bt2.77bn.The core profit marked at Bt2.56bn in 2Q23 (-59% YoY, -15.5% QoQ).Its core earnings were pressured on a YoY basis by the mobility business, whose gross margin per liter narrowed to Bt0.96/liter in 2Q23 (vs. the high base of Bt1.61/liter in 2Q22).

Earnings Review - PTT Oil and Retail Business Plc. (OR)