• The Company generated a core profit¹ of Baht 385 million, representing a significant increase of Baht 240 million, or 166%, from Q1/2025.
• The Company’s subsidiary has entered into an agreement with Amazon Leo, Amazon’s Low Earth Orbit (“LEO”) satellite network, under which the Company will serve as the authorized distributor and landing rights holder for the service in Thailand.
  

Bangkok, Thailand, 7 May 2026 – Thaicom Public Company Limited (the “Company” or “THCOM”), a leading Asian satellite operator and SpaceTech company, announced its financial results for Q1/2026.

In Q1/2026, the Company generated a core profit¹ of Baht 385 million, representing a significant increase compared to both the previous quarter and the corresponding period of the prior year. The core profit increased by Baht 143 million, or 59.1%, from Baht 242 million in Q4/2025 (QoQ) and increased by Baht 240 million, or 165.5%, from Baht 145 million in Q1/2025 (YoY). This improvement was primarily supported by higher other income, alongside efficient cost and expense management. Focusing solely on the satellite business, the Company generated core profit excluding non-satellite business and the share of loss from the telecommunications business of Baht 408 million, which exceeded the normal core profit by Baht 23 million and increased by Baht 236 million compared to the corresponding period of the previous year, reflecting the strong profitability of the core business.

The Company reported net profit attributable to the owners of the Company of Baht 588 million in Q1/2026, representing a significant increase of 352.3% from Q4/2025 (QoQ) and 390.0% from Q1/2025 (YoY), which recorded Baht 130 million and Baht 120 million, respectively. This was primarily driven by other income from the interest income from the delayed refund of withholding tax and related withholding tax from the Revenue Department of India (please refer to Note 11 to the financial statements), as well as the depreciation of the Baht against the U.S. dollar, resulting in the recognition of net foreign exchange gain of Baht 221 million. The Company’s revenue is largely denominated in U.S. dollar-related contracts. Therefore, Baht depreciation favorably impacted the Company’s total revenue and net profit.

In Q1/2026, total revenue from sales of goods and rendering of services, construction services, and other income amounted to Baht 958 million, representing an increase of Baht 16 million, or 1.7%, from Baht 942 million in Q4/2025 (QoQ), and an increase of Baht 218 million, or 29.5%, from Baht 740 million in Q1/2025 (YoY). The increase was primarily driven by other income from the interest income from the delayed refund of withholding tax and related withholding tax from the Revenue Department of India (please refer to Note 11 to the financial statements).

In Q1/2026, the Company’s subsidiary announced an agreement with Amazon Leo, Amazon’s LEO satellite network. Under the agreement, the Company will serve as an authorized distributor and landing rights holder for Amazon Leo in Thailand. The Company will deliver fast, reliable broadband connectivity from Amazon Leo to downstream distributors, expanding connectivity to customers, communities, and businesses beyond the reach of existing networks. The agreement addresses Thailand’s growing demand for reliable, next-generation internet services and demonstrates the Company’s commitment to delivering innovative space technology that strengthens Thailand’s rapidly expanding digital economy.

Regarding the telephone business abroad, the Company’s share of loss from investment in the joint venture in Q1/2026 remained at a level comparable to Q1/2025, despite improved performance of Lao Telecommunications Public Company (“LTC”) compared to the previous quarter. The share of loss from investments was incurred due to the depreciation of the Lao Kip against the U.S. dollar compared to Q4/2025 (QoQ), together with finance cost incurred by Shenington Investments Pte. Ltd. In the long term, the Company continues to benefit from the tariff restructuring policy for telecommunications services implemented by the Ministry of Telecommunication and Communication of the Lao PDR, which is expected to support the continuous recovery of the share of loss from investments.

.###

[1] Core profit means profit attributable to owners of the Company before unrealized gain (loss) on exchange rate of the Company and joint ventures, and before extra items.

Media Contact:

Corporate Communications

Tel: +66 2-596-5060

Email: [email protected] / [email protected]

Share this news: