Thaicom Reports Q2/2019 Results

Stocks and Financial Services Press Releases Monday August 5, 2019 17:23
Bangkok--5 Aug--Thaicom

Thaicom Public Company Limited (THCOM),Thailand's first satellite operator, announced its financial results for the second quarter ended 30 June 2019. Thaicom reported the net profit decrease comparing with the previous quarter and the same quarter of last year, mainly due to the recognition of several extra expenses during this quarter. Thaicom reported revenue from sales and services for Q2/2019 of THB 1,217 million, down by 18.6% from Q2/2018, and also down by 6.6% from Q1/2019, mainly from the lower utilization, together with the discounted price to a major customer.

The company's net loss for Q2/2019 was Baht 135 million. This was mainly from the extra expenses totaled of Baht 137 million that consist of a foreign exchange loss, an additional recognition of past service cost (compensation for employee) due to the Labor Protection Act (No.7) B.E. 2562, and the written-off of deferred tax asset. The company has normalized net profit excluding the impacts of loss from such extra expenses of Baht 2 million. The overall utilization rate as at the end of Q2/2019 of the company's conventional satellites, the Thaicom 5, 6, 7 and 8, was 53%, the same rate as at the end of Q1/2019. For broadband satellite, the Thaicom 4, the utilization rate was 24%, down from 31% as at the end of Q1/2019.

Anant Kaewruamvongs, CEO, commented: "The company emphasizes on the effective cost management to offset with the revenue shrinkage. For an investment of new satellites, the company is in the process of feasibility study with possibility of using foreign licenses, while simultaneously pursuing licenses from the Thai Government. We strongly believe that our know-how in satellite marketing and service operation can be extended to develop an effective public-

private partnership for the future of Thai satellite industry. In addition, the company has expanded its business area to adjacent businesses in order to diversify the reliance on the satellite business. At present, the company has provided the platform for high-speed connectivity with value-added-services under "NAVA". Currently, the number of ships in operation, including backlog is 104 ships." Lao Telecommunications Co., Ltd. (LTC), Thaicom's telecommunication and mobile service

provider subsidiary in Lao PDR, reported total mobile subscribers (excluding fixed wireless) of 1.45 million. The country's leading mobile network operator reported a market share of 56.5%.
About THAICOM

THAICOM Public Company Limited, a leading Asian satellite operator, was established in 1991. The Company was the first to launch a broadband satellite in the world, and is a leader in developing integrated solutions for satellite broadband and broadcast services. The Company's engineering teams provide leading-edge innovative solutions for satellite-based telecommunications services. Since its establishment the Company has launched eight satellites, with five satellites in operation: THAICOM 4 (IPSTAR) provides a variety of broadband and data services, including cellular backhaul, mobility, government USO support, content delivery, business continuity and emergency services in thirteen countries in Asia Pacific. THAICOM 6 is to expand the Company's broadcast carrying capacity in SE Asia and Africa (by the name "AFRICOM 1") and is collocated with THAICOM 5 and THAICOM 8 at 78.5 degrees East. THAICOM 7 was

launched in September 2014 to provide media & data services for Asia's and Australasia's entertainment and telecom industries at 120 degrees East. THAICOM 8 was launched in May 2016 to expand Thaicom's servicing capacity and footprint in the region. Thaicom is traded on the Stock Exchange of Thailand (SET) under the trade symbol "THCOM".


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