• Thaicom signed an agreement with Hughes Communications India, a leading provider of broadband satellite and managed network services, to provide satellite capacity over India using Thaicom’s satellite fleet.
• Thaicom, in collaboration with INVIDI Technologies (USA) and PSI, will launch cutting-edge Addressable Advertising technology to reinvent Thailand’s media industry.
• Thaicom partnered with SpaceX, renowned for launching the world’s most advanced rockets, to secure a launch agreement for THAICOM 10.

Bangkok, Thailand, 12 November 2024 – Thaicom Public Company Limited (the “Company” or “THCOM”), satellite operator, announced its financial results Q3/2024.

Thaicom Public Company Limited reported a revenue from sales and services of Baht 614 million for Q3/2024, which decreased from Baht 638 million in Q2/2024 (QoQ) and Baht 623 million in Q3/2023 (YoY). This was mainly attributed to the revenue from satellite and related services that slightly decreased due to domestic clients, reflecting the transitional period of the Universal Service Obligation (USO) contracts with the National Broadcasting and Telecommunications Commission (NBTC) as this transition follows the completion of USO Phase 2 leading into USO Phase 3. However, in this quarter, the Company was able to secure a long-term contract, solidifying its strong position in the rapidly growing Indian market.

Regarding telephone business abroad, share of loss of investment in joint venture has significantly improved. However, despite a slight strengthening of the Kip against the US dollar, a foreign exchange loss was still incurred as the Kip remained weaker in Q3/2024.Nevertheless, Lao Telecommunications Public Company (LTC) has shown continued improvement in performance. Net profit in Q3/2024 increased significantly both QoQ and YoY, reaped significant benefits from the tariff restructuring for telecom services implemented by The Ministry of Telecommunication and Communication of the Lao PDR.

The Company reported a net loss of Baht 562 million in Q3/2024, primarily attributed to temporary foreign exchange fluctuations, stemming from the strengthening of the Thai baht, which reached a 26-year high. This surge in the baht’s value has adversely impacted Thailand’s exports, including the Company, which derives a significant portion of its revenues internationally. Recognizing the inherent volatility of exchange rates, the Company has proactively implemented various mitigation measures, including foreign exchange risk management, business diversification, and the exploration of new business opportunities. These initiatives are designed to bolster the Company’s long-term resilience. Despite the challenging environment, the Company generated a core profit¹ of Baht 29 million, which experienced a substantial 53% YoY increase compared to Q3/2023.

In Q3/2024, the Company’s satellite business generated Baht 68 million in core profit excluding share of loss from telecommunications business, exceeding normal core profit by Baht 39 million. This underscores the core business’s robust profitability.

The Company’s subsidiary, IPSTAR (India) Private Limited (IPSTAR), has signed an agreement for satellite capacity with Hughes Communications India Private Limited (HCI), a leading provider of broadband satellite and managed network services, for satellite capacity over India on Thaicom’s satellite fleet. Under the agreement, IPSTAR India will provide satellite capacity services to HCI in India via Thaicom’s satellite network. This will enable HCI to enhance its satellite broadband, mobile backhaul, maritime and satellite IoT services to meet the growing and varied demand for satellite services in India. The agreement will initially utilize THAICOM 8’s satellite capacity with dedicated Indian coverage. Furthermore, Thaicom remains committed to continuously serve the Indian market into the future with new investments in the state-of-the-art next generation satellites. Thaicom has been providing the Indian market with satellite capacity since 1997 and combined with extensive experience and know-how of Hughes managed services platform, the Company has full confidence in its ability to serve the insatiable demand for broadband services throughout India.

The Company announces an industry-transforming partnership with INVIDI Technologies (INVIDI) (USA), the global leader in targeted, addressable advertising and innovation and PSI, Thailand’s largest satellite network and set-top box provider, to launch addressable advertising, an innovative technology that enable advertisers to deliver personalized ads to specific individuals or households in Thailand. Having developed the first widely deployed addressable advertising system in the world, INVIDI has made the commitment to support Thai broadcasters in boosting ad revenue and fund new premium content. According to Media Partners Asia, the addressable opportunity in Thailand alone represents a 19% CAGR over the next five years, and a 24% CAGR across Southeast Asia and India.

The Company’s subsidiary, Space Tech Innovation Limited (STI), has signed an agreement with SpaceX, a US company that designs, manufactures and launches the world’s most advanced rockets, for the launch of THAICOM 10, Thaicom’s upcoming, next generation software-defined, high throughput satellite (SD-HTS). THAICOM 10 satellite, built by Airbus Defence and Space SAS (France), will provide over 120 gigabits per second (Gbps) of capacity. This state-of-the-art technology will allow flexibility and instant configuration to adapt dynamically to the customers’ needs. The satellite will provide extended connectivity over the region for Thaicom’s customers and partners across the Asia Pacific. THAICOM 10 will be launched on SpaceX’s Falcon 9 rocket, the world’s first and only orbital class rocket capable of reuse, from Florida, USA. The satellite will operate at the 119.5 degrees East orbital slot.

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

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Media Contact:

Corporate Communications

Tel: +66 2-596-5060

Email: [email protected] / [email protected]

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