Thaicom Reports Operating Results for First Half 2018

Telecommunication Press Releases Thursday August 2, 2018 11:24
Bangkok--2 Aug--Thaicom

Thaicom Public Company Limited (THCOM), Thailand's first satellite operator, reported its operating results for the first half of 2018 ending June 30, 2018, posting a consolidated net profit of Baht 2,115 million, up by 345% from Baht 475 million compared to the same period of 2017, as a result of the profit from the sale of CSL's share of Baht 1,950 million recognized in Q1/2018. The company generated consolidated revenue from sales of goods and rendering of services for first half of 2018 totaled Baht 2,999 million decreased by 17% compared to the same period of 2017 following broadcasting industry trend slowing down.

The company's net profit of Q2/2018 was Baht 251 million increased by 16% from Baht 216 million for Q2/2017 despite a drop from revenue of 7%. This was due mainly to the drop in depreciation expense accordingly to the satellite assets impairment in Q4/2017 and effective cost management.

During the second quarter of 2018, the company signed a multi-years agreement with 'We Are It Philippines (WIT)', aimed at providing connectivity for the rollout of nationwide enterprise and government broadband projects in Philippines, together with the successfully signedthe Memorandum of Understanding (MOU) with Royal Thai Navy to research and establish mutual collaboration on the Unmanned Aerial Vehicles (UAV) in the Gulf of Thailand in order to enhance and expand the limitation of UAV operations by using the satellite capability.

Thaicom's telecommunication and mobile service provider subsidiary in Lao PDR, Lao Telecommunications Co., Ltd. (LTC) as of the end of Q2/2018, had total mobile subscribers (excluded fixed wireless) of 1.51 million subscribers, ranking No.1 with approximately 57.5% of total mobile's market share, up from 55.7% as at the end of Q2/2017.

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