THCOM Faces ฿33M. of Loss in 1Q19, Asserting a Global Downtrend of Satellite Industry

Thaicom Public Company Limited (THCOM) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

THCOM reported a net loss of THB 32.99 million for the first quarter of 2019, a decrease of from THB 1,864 million for 1Q18 mainly due to the gain on sale of CSL’s shares in the first quarter of 2018. Considering only normalized profit (excluded profit from sales of CSL and impairment loss), THCOM’s normalized profit (loss) in 1Q19 was a loss of THB 33 million, decreased from a net loss of THB 28 million in 1Q18 following revenue drop and also a lower share of profit of investment in the joint venture.

Furthermore, THCOM revealed revenue from sales of goods and rendering of services for the first quarter of 2019 at THB 1,303 million, decreased by 13.4%, mainly contributed by the drop of revenues from satellite business which caused by the price drop following the global downward trend of the satellite industry.