SAMTEL Flips to Book a Loss of ฿104Mn in 3Q due to Covid-19 Pandemic

Samart Telcoms Public Company Limited (SAMTEL) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

SAMTEL reported a consolidated net loss of THB 104 million in 3Q20, compared net profit with 3Q19 at THB 80 million decreased by THB 184 million or 230.0%, from the same period of last year. The loss was driven by a decrease in revenues by29.4%.

 

The consolidated total revenues for 3Q20 were THB 1,374 million, decreased by THB 572 million or 29.4% from 3Q19 mainly from revenue of sales, contract work and services were THB 1,352 million, decreased by 30.3% YoY, major decreased is caused by the situation of COVID-19 outbreak has had significant impacts on tourism and aviation industry affecting the Company’s direct revenue from the project such as Airport related businesses, which its revenue is mainly based on the number of passengers.