Thaicom Reports Q3/2021 Results
Bangkok, Thailand, 29 October 2021 — Thaicom Public Company Limited, satellite operator, announced its financial results for the third quarter ended 30 September 2021.
Thaicom reported revenue from sales and services for Q3/2021 of Baht 925 million, increased by 0.8% from Q3/2020 for Baht 918 million, mainly from the appreciation of US dollar against Thai Baht that resulted in an increase of revenue recognition from foreign currency. Compared with Q2/2021, the consolidated revenue from sales of goods and rendering of services increased by 16.3% from Baht 796 million, due to an increase of project sale revenue from conventional satellite business and value-added services from the broadband business.
Thaicom generated consolidated net profit for Q3/2021 of Baht 146 million, improved from the net profit for Q3/2020 of Baht 77 million, and a consolidated net loss of Baht 41 million for Q2/2021 as a result of a decrease of satellite depreciation and concession fee, together with an increase in consolidated revenue from sales of goods and rendering of services from both conventional and broadband services and gain from foreign exchange.
The committed utilization for conventional satellite comprised of Thaicom 7 and Thaicom 8, as at the end of Q3/2021 was 59.3%.
Thaicom obtained an agreement for operation from the Ministry of Transport and Communication for a period of 30 years to operate and administer satellite projects and to render transponder services for domestic and international communications as well as the right to collect, for a 30-year period, service charges from users of the transponders. Subsequently, such an agreement was transferred to the Ministry of Digital Economy and Society (MDE). Currently, the agreement has expired and Thaicom completely handed over possession of the satellites and other assets under the agreement to MDE on 10 September 2021.
Lao Telecommunications Co., Ltd. (LTC), Thaicom’s telecommunication and mobile service provider subsidiary in Lao PDR, reported total mobile subscribers of 1.86 million, increased in comparison with the subscribers as at the end of Q3/2020 of 1.59 million.
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