THAICOM Reports 2016 Results

Thursday 02 February 2017 15:36
Thaicom Public Company Limited (THCOM), a leading Asian satellite operator, today announced its 2016 operating results. The company generated a consolidated revenue from sales of goods and rendering of services for 2016 of Baht 11,517 million, decreased by Baht 936 million or 7.5% from Baht 12,453 million for 2015, mainly contributed by revenue drop from both satellite business and Internet and media businesses, together with the increase of costs and expenses relating to the Thaicom 8 Satellite commercialized at the beginning of Q3/2016. As a result, an operating profit (EBIT) for 2016 was Baht 1,938 million, down by Baht 1,043 million or 35.0% from Baht 2,981 million for 2015. The Company reported a consolidated net profit of Baht 1,612 million or Baht 1.47 per share, a decrease of Baht 510 million or 24.0% from Baht 2,122 million or Baht 1.94 per share for 2015.

In other areas of the Company's operations, its internet and media subsidiary, CS LoxInfo Public Company Limited (CSL) has also continued to expand Internet broadband in condominiums, resulting in the number of subscribers as the end of 2016 of 10,620 subscribers, the growth of 134.6% compared to that of 2015. Moreover, the revenue from Internet Data Center (IDC) service has also continued to grow from corporate customer base. Lao Telecommunications Company Limited (LTC), the Company's telephone operation in the Lao PDR, recorded total mobile subscribers of 2,059,104 subscribers as end of 2016, continuing to increase from 1,947,996 subscribers as at the end of 2015, and still ranked No.1 with 53.7% mobile's market share, up from 52.0% as at the end 2015. The revenue also continued to increase, especially from data business from both mobile and Internet SIM. LTC also received the Medal of Labour, First Class, from the government of Lao PDR. The company was honored for its outstanding business performance and the value it has created through the development and expansion of telecommunications networks throughout Lao PDR. Such recognition demonstrates the close relationship of cooperation between LTC and Lao government as they continue to work towards further development together.