SUSCO accelerates EV production, hoping a new S-Curve will drive 8% growth in sales.

SUSCO is implementing a sharp cost-control strategy and expanding its gas station network by 10 locations this year, designating SUSCO SQUARE Pinklao as a flagship branch. It's pursuing a non-oil business model, consolidating rental fees to boost traffic and bolster its main gas station network. The company is also aggressively expanding into the electric vehicle (EV) market, aiming to increase lease-purchase and rental sales by 500 vehicles, while accelerating the installation of charging stations integrated with solar power.

May 16, 2569 – The overall picture of the domestic energy and oil retail industry continues to reflect fierce competition for consumer base. Most recently… Susco Public Company Limited or SUSCO One of the leading fuel distributors and integrated energy businesses. The company has released its operating results report for the first quarter of 2026, ending March 31, 2026, showing total revenue of 7,067 million baht and a net profit of 92.47 million baht.

These financial results are achieved amidst an internal business restructuring aimed at diversifying risk from the volatility of oil market prices. The company emphasized its success in efficient cost management and expense control within its branches, as well as its efforts to increase revenue from new business segments to strengthen its investment portfolio and ensure long-term stability.

“For the first quarter of 2026, the company continued to face challenges from several factors, both domestically and internationally, but was able to manage them effectively, including cost control, branch management, and expansion into new businesses. Through careful planning and business strategies, we expect this to support overall sales growth of approximately 8% this year, and propel the organization towards becoming a full-fledged provider of Smart Energy & Mobility Solutions.”

Accelerating branch expansion to reach 280 locations, focusing on 'non-oil' businesses and extending contracts to generate recurring rental income.

This is our business continuity plan for the year 2569. SUSCO has allocated a budget to expand its gas station network by another 10 locations to meet the continuously growing demand for energy in the transportation sector. The long-term goal is to increase the number of gas stations to 280 within the next two years. This strategy will directly impact overall fuel sales volume and enhance accessibility to new customer locations.

Meanwhile, the non-oil business growth strategy is becoming a key driver of higher gross profit margins. The company is focusing on commercial development projects under the SUSCO SQUARE brand, which currently has four locations in operation, the latest being the Pinklao branch which opened in early 2026.

This is for the SUSCO SQUARE Pinklao branch project. Senior management has positioned this as a key "model" to be used as a core element for developing and expanding the non-oil business scope in the future. This business structure can generate recurring income for the company from long-term lease agreements, while simultaneously attracting more customers to the gas stations. This will have a positive impact on the existing customer base and create long-term business strength.

Pinpointing the EV market to create a new S-Curve, coupled with models to reduce energy costs.

Another key turning point that will enhance competitiveness in the clean energy era is the electric vehicle (EV) business segment, considered a new S-Curve for the organization. Last year, the company's EV business experienced exponential growth with a 60% increase in sales, totaling 3,758 units. Meanwhile, the overall Thai EV market is projected to continue growing by approximately 5.5-6% this year, driven by government support measures and consumer demand for technological transition.

Based on these trends, SUSCO plans to expand its business model to include leasing and hire-purchase services for electric vehicles (EVs), aiming to increase its EV portfolio to at least 500 vehicles within the next two years. This is intended to create a new, highly stable source of revenue.

Beyond vehicles, the company has applied an energy ecosystem to control costs within its gas stations. Currently, 58 electric vehicle (EV) chargers have been installed, totaling 143 charging points. Additionally, 53 stations have installed rooftop solar power systems. This plan not only caters to the growing number of EV users but also aims to reduce long-term electricity costs for gas stations and create sustainable revenue streams from clean energy infrastructure.

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