MONO Announces an Improvement in 3Q Performance, Reducing Loss to ฿112Mn

Mono Next Public Company Limited (MONO) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

The operating results of the third quarter of 2020 ending September 30, 2020 revealed net loss amounting 112.1 million Baht. Loss decreased by 65.3 million Baht compared to the same quarter of the previous year, and loss decreased by 55.8million Baht compared to the second quarter of 2020. The reasons were 1) total revenue decreased by 84.1 million Baht or 16.0% YoY, mainly due to the decrease of advertising revenue by 80.6 million Baht or 19.9% YoY. The major cause of the decrease of revenue was the effect of COVID-19  outbreak in 2020 which resulted in a continuous decrease in advertising expense since early 2020.

 

2) Monomax revenue increased more than 300% resulting from social distancing to prevent the spread of COVID-19. Moreover, the positive factor of the increase was the synergy of Monomax with 3BB and HBO Go to the package 3BB Gigatainment. The revenue of this service has appeared since April 2020.

 

Meanwhile cost of sales and services decreased by 75.4 million Baht or 15.5% YoY. Expense of sales and management decreased by 54.1 million Baht or 28.3% YoY.