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Thaicom reports operating results for first quarter 2018

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Thaicom Public Company Limited (THCOM), Thailand’s first satellite operator, announced its operating results for the first quarter of 2018. The company generated consolidated revenue from sales of goods and rendering of services for Q1/2018 was Baht 1,463 million, increased by 2.8% from Baht 1,463 million for Q4/2017 due to the increase of utilization from existing and new customers in Thailand and International, from both conventional and Thaicom 4 Broadband services.

The company also recognized the other income from the sale of CS Loxinfo Public Company Limited (CSL)’s share to Advanced Wireless Network Company Limited (AWN) which was completed in January 2018, therefore, the total revenue for Q1/2018 was Baht 3,497 million, an increase of 62.2% from Baht 2,156 million for Q1/2017. As a result, the Company reported a consolidated net profit of Baht 1,864 million, an increase of 620.4% from Baht 259 million for Q1/2017.

Thaicom’s telecommunication and mobile service provider subsidiary in Lao PDR, Lao Telecommunications Co., Ltd. (LTC) as of the end of Q1/2018, had total mobile subscribers (excluded fixed line telephony) of 1.56 million subscribers and ranks No.1 with approximately 58% of total mobile’s market share, up from 55% as at the end of Q1/2017. LTC’s revenue continued to increase mainly due to the increase of revenue from Internet SIM.

This year Thaicom defined new strategies to transform its business to cover the digital platform. The company will focus on 3 business directions which are core satellite business, adjacent business and new business prototyping. During the first quarter of 2018, the company signed a multi-years contract with the leading broadcaster in Myanmar to launch pay TV DTH service in their country, together with the successfully signed multi-years agreement with ‘We Are It Philippines (WIT)’, aimed at providing connectivity and broadband internet in Philippines.