Page 105 - 56-1 One Report 2022 EN

Part 1 Business Operation and Operating Performance

Internet and media services

For 2022, the revenue from internet and media services was Baht 32 million, increased by 6.7% compared with
Baht 30 million for 2021, resulting from an increase in revenue from eSport, offsetting a decline of revenue from
broadband and television network and system integration services.
Cost of sale of goods and rendering of services

The Company reported the consolidated cost of sales of goods and rendering of services for 2022 of Baht 1,500
million, decreased by 36.1% compared with Baht 2,349 million for 2021, mainly due to the decrease of concession
fee to the Ministry of Digital Economy and Society and depreciation of satellites after the expiry of the concession.

Cost of sales of goods and rendering of services
Unit: Baht million 2022 2021 % YoY
Satellite and related services 1,509 2,355 -35.9%
Internet and media services 17 17 0.0%
Consolidation eliminations (26) (23) 13.0%
Total 1,500 2,349 -36.1%

The cost associated to satellite and related services for 2022 was Baht 1,509 million. A drop of 36.9% from Baht
2,355 million for 2021, contributed by a decrease in depreciation of Thaicom 4 and Thaicom 6 satellites, and
a concession fee to the Ministry of Digital Economy and Society after the end of the concession period.

Cost of Internet and media services

The cost associated to the internet and media services for 2022 remained at Baht 17 million, the same as that in
2021, despite an increase in revenue. This was attributed to effective cost control measures.

Selling and administrative expenses

The SG&A expenses, including directors and management benefits, were Baht 940 million for 2022, increased by
6.4% from Baht 884 million for 2021, mainly due to the increase of expenses related to staff.

Finance cost

Finance costs for 2022 were Baht 122 million, a decrease of 21.7% from Baht 155 million for 2021, mainly due to
the repayment of the debenture in Q4/2021 of Baht 2,275 million, together with the repayment of the long-term loan
according to schedule.

Share of profits of investment in joint venture

The share of profit (loss) of investment in subsidiaries and joint ventures consisted of those from LTC, Nation Space
and Technology Co., Ltd and ATI Technologies Co., Ltd
During 2022, the share of profit (loss) of investment in subsidiaries and joint ventures was Baht (306) million,
increasing from the loss of Baht (267) million for 2021, mainly from the loss of share of profit of investment in LTC.,
LTC’s revenue for 2022 has grown from that of 2021 and continued generating operating profit. The loss was mainly
from the depreciation of the Lao Kip against the US Dollar, resulting in a loss from marked-to-market of its US Dollar
liabilities. The depreciation of the Lao Kip against the US Dollar significantly fluctuated during 2022. However, it has
become more stable during December 2022 and continues until January 2023.

Part 1 Page 91