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>The 1Q24 core profit grew strongly QoQ, driven by all businesses (accounting for 26% of the full-year forecast).</li><li>The momentum should continue in 2Q24E. We maintain our 2024E earnings forecast.</li><li>The mobility sector has experienced heightened competition within the oil retail industry, with sales momentum improving since March 2024 following the resolution of the case involving under-filled petrol by a liter in late 2023. </li></ul>

The 1Q24 core profit grew strongly QoQ, driven by all businesses (accounting for 26% of the full-year forecast).The momentum should continue in 2Q24E. We maintain our 2024E earnings forecast.The mobility sector has experienced heightened competition within the oil retail industry, with sales momentum improving since March 2024 following the resolution of the case involving under-filled petrol by a liter in late 2023. 

Ptt Oil and Retail Business - Strong 1Q24 Earnings QoQ Thanks to All Businesses