Thaicom Reports 2021 Results
Bangkok, Thailand, 4 February 2022 – Thaicom Public Company Limited, a satellite operator, announced its yearly financial results ended 31 December 2021.
The Board of Directors meeting no. 2/2022, dated 4 February 2022, approved proposing to the shareholders’ meeting for approval of the dividend for 2021 of Baht 0.30 per share.
Thaicom’s consolidated net profit for 2021 was Baht 144 million, representing an earnings per share of Baht 0.13. The Company’s normalized profit (loss) from core business operations was Baht 41 million for 2021, a significant increase from 2020 with a loss of Baht 139 million.
After the expiry of the concession, revenue from satellite services comprised revenue from Thaicom 7 and Thaicom 8, which operated under telecommunication licenses. Besides, there was revenue from satellite services from part of the bandwidth purchased on Thaicom 4 and Thaicom 6 satellites by National Telecom Public Company Limited, including bandwidth purchased from international satellite service providers in order to continue providing seamless service for both broadcast and broadband customers.
Thaicom reported revenue from sales and services for 2021 of Baht 3,303 million, down by 7.1% from 2020 due to the decrease in revenue from satellite and related services from broadcast customers as a result of utilization ramp-down from domestic clients, along with the Thaicom 5 satellite deorbit in February 2020, led to the service termination of foreign customers that were not able to migrate to Thaicom’s other satellites. The decrease in revenue was also a result of a decline in broadband services to foreign customers.
Upon the end of the concession, Thaicom completely handed over possession of the satellites and other assets under the agreement to the Ministry of Digital Economy and Society (MDE), resulting in a decrease in depreciation costs and concession fees. This led to a positive net profit for 2021 of Baht 144 million, the majority of which came from a gain in foreign exchange due to the appreciation of the US dollar against the Thai Baht.
The normalized profit from operations, excluding the share of profit from investment in joint ventures, was Baht 41 million for 2021, significantly improved from 2020, with a loss of Baht 139 million in 2020.
The overall utilization rate at the end of 2021 of the Company’s satellites, Thaicom 7 and Thaicom 8, was 57%.
Lao Telecommunications Co., Ltd. (LTC), Thaicom’s telecommunication and mobile service provider subsidiary in Lao PDR, reported total mobile subscribers of 2.01 million and maintained its position as the country’s leading mobile network operator.
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