MCOT Books a Deeper Loss of ฿2.02Bn in 2020 as Expenses Surge-Revenue Falls

MCOT Public Company Limited (MCOT) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

In 2020, MCOT experienced a loss of 2,020 million Baht, which increased 341% from last year, while reporting a revenue of 1,511 million Baht and expenses of 3,590 million Baht. 

 

The essential expenses items were from the launch of the mutual separation program aimed to reduce personnel expense, totaling 432 million Baht and impairment of assets (which was non-cash expense), totaling 1,154 million Baht, causing MCOT to experience an over 20% change in loss YoY.

 

The revenue from TV and radio, which remained MCOT’s major business accounted for 61% of the total revenue, dropping 30% YoY.

 

As of December 31, 2020, MCOT had total assets of 8,043 million, total liabilities of 3,267 million Baht and shareholder’s equity of 4,776 million Baht. Assets and shareholder’s equity decreased from last year as a result of loss and asset impairment.