ADVANC Reports a Jump of 30% in Profit, Reaching ฿8.8bn from Robust Revenue Growth

Advanced Info Service Public Company Limited (ADVANC) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

ADVANC has reported a net profit of 8,800 million baht in 3Q19, increased 29.41% when compared to a net profit of 6,800 million baht in 3Q18. The increase was due to the robust growth of core service revenue offset by increased D&A following 4G investment.

The company reported an EBITDA in 3Q19 at 21,135 million baht increasing 19% YoY and 11% QoQ, as a result of an increase in service revenue along with well-controlled expenses as well as recognition of lower tower rental for the first half, in this quarter. EBITDA margin increased from 42.3% in 3Q18 and 42.8% in 2Q19 to 46.5% in 3Q19. Net profit was Bt8,679mn escalating 28% YoY and 12% QoQ, respectively. Net profit margin was 19% this quarter comparing to 16% 3Q18 and 17% 2Q19.

Revenue from Interconnection charge (IC) and TOT partnership reported at 4,278 million baht, grew 38% YoY and 51% QoQ. The surge in revenue resulted from the new tower agreement with TOT, recognizing revenue from space rental and maintenance which retrospectively taken effect from 1 Jan 2019. Such revenue is to offset against the cost paid to TOT for tower rental recorded under cost of service. In total, the service revenue for 3Q19 reported 39,804 million baht increase 9.8% YoY and 4.1% QoQ.