JAS Reports a 9% Rise in 2Q21 EBITDA, Planing to Expand Existing Business amid Pandemic
JAS’s EBITDA for 2Q21 was at 3,278 million Baht, increasing by 9%. JAS is looking for new ways to generate more revenue by building on existing businesses and reducing spending by adjusting the organization structure.
Jasmine International Public Company Limited (JAS) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
Operating results for 2Q21 ended 30 June 2021, JAS had a net loss of 910 million Baht, increasing by 496 million Baht YoY, compared to the net loss of 2Q20 and increasing by 645 million Baht QoQ, compared to the net loss of 1Q21. EBITDA for 2Q21 was at 3,278 million Baht, increasing by 259 million Baht or 9% YoY, compared to 2Q 2020 and increasing by 166 million Baht or 5% QoQ, compared to 1Q21.
The total operating revenue of the company was 4,848 million Baht, decreasing by159 million Baht or 3% YoY, compared to 2Q20, but increasing by 35 million Baht or 1% QoQ, compared to 1Q21. Major contribution of the revenue was still from the Broadband and Internet TV segment. The total operating revenue for 2Q20 included the FX gain of 193 million Baht; whereas, for 2Q21, the company recorded the FX loss of 59 million Baht.
As at the end of 2Q 2021, 3BB had a total of 3.57 million subscribers. After deducting corporate accounts, WiFi subscribers, barter accounts, internal use accounts, Value Added Service accounts and non paying subscribers etc., the total number of collectable subscribers of Fixed broadband was 2.38 million with Average Revenue Per User (ARPU) of 598 Baht per month.
As the second and third waves of Covid-19 outbreak in 2021 are likely to be more severe, many businesses have implemented WFH (Work From Home) policy and most schools have turned to online learning; thus, increasing the need for Internet usage. However, installation of Internet service has become more difficult because homeowners are worried about the spread of the virus from strangers. Nevertheless, with the company’s strict protection policy in place to ensure that the customers can receive the service with a peace of mind, JAS has been able to continuously increase the number of the subscribers. In addition, the company is also looking for new ways to generate more revenue by building on existing businesses and reducing spending by adjusting the organization structure.