Susco Pushes Ahead with Pump Expansion, Adding 10 More Stations This Year with Focus on Smart Energy and EV
Fuel distributor Susco posted 7.1 billion baht in Q1 revenue while expanding its gas station network by 10 new stations this year, betting on electric vehicles and renewable energy to drive future growth.
Susco released Q1/2026 results showing combined revenue of 7,067 million baht and net profit of 92.47 million baht. The company is moving forward with gas station expansion and non-oil business growth with high margins, targeting Smart Energy and EV to create a new S-curve for growth.
Chairitthit Simarojon, Managing Director of Susco Public Company Limited, a fuel distributor and energy business operator, revealed that despite facing multiple challenges from both domestic and international factors in the first quarter of 2026 (ended March 31, 2026), the company maintained strong performance through efficient management, cost control, branch administration, new business expansion, and careful strategic planning. The company is pushing to become a comprehensive Smart Energy & Mobility Solutions provider, confident this will support 8% revenue growth this year.
On branch expansion, the company targets opening 10 additional gas stations this year to meet growing demand, with plans to reach 280 total stations within two years.
The non-oil business continues generating steady returns, particularly the SUSCO SQUARE project currently operating at 4 locations. The Pinklao branch, launched in early 2026, serves as a model for future expansion. This business generates revenue from rental contracts while increasing customer numbers and service usage at gas stations, strengthening long-term revenue and customer base.
The company's electric vehicle (EV) business showed strong growth, with 2025 sales jumping 60% to 3,758 vehicles. The company forecasts Thailand's EV market will grow another 5.5-6% this year amid the clean energy transition and government support. Susco plans to expand EV leasing and financing services by at least 500 vehicles over the next two years, establishing these as important new S-curves for long-term growth and new revenue streams.
Meanwhile, the company continues expanding EV charger installations and solar rooftop projects to manage costs and develop energy business. Currently, 58 gas stations have EV chargers installed (143 charging points) and 53 stations have solar rooftops. Beyond supporting EV user growth and reducing long-term energy costs, these installations create additional energy service revenue opportunities and reinforce the company's clean energy business image.
