-0.20 (-1.71%)

Thaicom Reports 2020 Results

Nonthaburi, Thailand, 5 February 2021Thaicom Public Company Limited (THCOM), satellite operator, announced its yearly financial results ended 31 December 2020.

The Board of Directors meeting no. 2/2021, dated 5 February 2021, approved proposing to the shareholder’s meeting for approval of the dividend for 2020 of Baht 219 million, or equivalent to Baht 0.20 per share from the net profit of Baht 514 million.

Thaicom reported revenue from sales and services for 2020 of Baht 3,557 million, down by 23.7% from 2019 due to the decrease of revenue from satellite and related services, which was due mainly to the Thaicom 5 satellite deorbit in February 2020. This resulted the service termination, especially for foreign customers that were not able to migrate to Thaicom’s other satellites. The decrease of revenue was also the results of a decline of satellite television channels, together with the decrease of broadband services to foreign customers.

Thaicom’s consolidated net profit for 2020 was Baht 514 million, improving from the net loss of Baht 2,250 million in 2019, which was due mainly to the impairment of satellite assets. The net profit of Baht 514 million already included the revenue and cost from extra items.

The overall utilization rate as at the end of 2020 of the Company’s conventional satellites, the Thaicom 6, Thaicom 7 and Thaicom 8, was 64%, decreased from 55% as at the end of 2019, mainly due to Thaicom 5 satellite deorbiting. The utilization rate of the conventional satellites was adjusted from total capacity of 111 transponders to 71 transponders, resulting to an increase of the committed utilization for conventional satellites. Most of the Thaicom 5 satellite’s customers were migrated to Thaicom’s other satellites, including to the rented ones, although some cannot be migrated, i.e., some foreign and retail customers. For broadband satellite, the Thaicom 4, the utilization rate was 19%, down from 23% as at the end 2019, mainly from the decrease of bandwidth consumption and foreign customers churn.

Lao Telecommunications Co., Ltd. (LTC), Thaicom’s telecommunication and mobile service provider subsidiary in Lao PDR, reported total mobile subscribers of 1.72 million and still maintained position as the country’s leading mobile network operator.


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