THCOM Reports Q2/2020 Results

Stocks and Financial Services Press Releases Thursday August 6, 2020 10:06
Bangkok--6 Aug--Thaicom
Thaicom Public Company Limited (THCOM), satellite operator, announced its financial results for the second quarter ended 30 June 2020.

The Company’s net profit for Q2/2020 was Baht 498 million, significantly improved from the net loss of Baht 135 million for Q2/2019 and Baht 198 million for Q1/2020. The major increase was due to the compensation income, offsetting with the loss from foreign exchange. Excluding such extra items, the normalized profit from operation for this quarter was Baht 2 million.

THCOM reported revenue from sales and services for Q2/2020 of Baht 873 million, down by 28% and 9.5% compared to Q2/2019 and Q1/2020, respectively. This was mainly contributed by a decrease of customer demand for broadband satellite services, along with customer churn from the Thaicom 5 satellite deorbit.

The overall utilization rate for Thaicom 6, Thaicom 7, and Thaicom 8 as at the end of Q2/2020 was 63%, down from 65% as at the end of Q1/2020. For broadband satellite, the Thaicom 4, the utilization rate was 19%, decreased from 21% as at the end Q1/2020, mainly from the drop of bandwidth consumption from foreign customers.

Mr. Anant Kaewruamvongs, Thaicom Chief Executive Officer, commented:“The Company’s net profit for Q2/2020 was a significant increase, the majority of which was an extra item from the compensation income. Our focus on cost control has still continued. Although the revenue decreased compared to the previous year, we still maintained the normalized profit from operation at Baht 2 million.

In addition, we has developed the joint venture with 2 business partners. Firstly, collaboration with CAT Telecom Public Company Limited (CAT) to establish Nation Space and Technology Company Limited (NSAT), to provide satellite and related services via Low Earth Orbit satellite systems. Secondly, partnership with AI and Robotics Ventures Company Limited (ARV), a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), to establish ATI Technologies Company Limited (ATI) in order to develop goods and services for unmanned aerial vehicle or drone for Thailand’s agricultural sector. Due to our 2 new business partnerships, we aims to begin the development for sustainable growth, enhance the strong revenue, and increase business diversification.”

Lao Telecommunications Co., Ltd. (LTC), Thaicom’s telecommunication including TPLUS Digital Company Limited (TPLUS) in Laos, reported total mobile subscribers (excluding fixed wireless) of 1.51 million as ranking No.1. The country’s leading mobile network operator reported a market share for Q2/2020 of 61.1%, which increased from 60.3% as at the end of Q2/2019.

About Thaicom

Thaicom Public Company Limited is a leading Asian satellite operator and provider of integrated satellite communications since 1991. Today, Thaicom is a global top-10 satellite operator and a trusted partner of choice for many of the region’s broadcasters, telecom operators, enterprises and government administrations. The company offers a comprehensive portfolio of satellite communications designed to help its customers grow their markets in the digital era. Thaicom is a true innovator and satellite industry pioneer: with IPSTAR (Thaicom 4), the company was the first operator in the world to launch a High Throughput Satellite (HTS). Since its establishment, Thaicom has launched eight satellites. At present, the company operates four high-performance satellites covering Asia, Oceania, and Africa.

Thaicom is traded on the Stock Exchange of Thailand (SET) under the trade symbol “THCOM”.

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