PLANB’s Net Profit in 1Q21 Decreases to ฿37Mn as a Lower Revenue from Out-of-Home Media
PLANB delivered profit from operations for 1Q2021 at THB 37 million, decreasing THB 47 million or 55.6% over the same period last year.
Plan B Media Public Company Limited (PLANB) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
PLANB delivered profit from operations for 1Q2021 at THB 37 million, decreasing THB 47 million or 55.6% over the same period last year due to total revenue from out-of-home media reported at THB 763 million decreased THB 27 million or 3.4% over the same period last year. The decline was mainly driven by the lower revenue from various media, including transit media, digital media and airport media. However, classic media and retail media (department stores, supermarkets, convenience stores) experienced mild growth but not enough to offset the revenue from other media mentioned earlier.
In 1Q2021, total revenue from engagement marketing business reported at THB 261 million, an increase of THB 86 million or 49.6% over the same period last year due to the significant revenue increase from revenue recognition from managing marketing rights of the Olympic Games during 1Q 2021of about THB 151 million.
Meanwhile, PLANB’s consolidated expenses for 1Q 2021 amounted to THB 1,023 million, increasing THB 126million or 14.0% over the same period last year. This increase was mainly due to (1) the cost of goods sold from sponsorship support for the Olympic Games and (2) financial cost.