THCOM Continues to Record a Profit in 2020, Announcing Nearly ฿500M of Profit in 2Q!

Thaicom Public Company Limited (THCOM) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

THCOM reported a net profit of 497 million baht, bounced back from a contraction of 135 million baht in 2Q19. The increase was mainly due to the recognition of the compensation income, together with the decrease of depreciation from Thaicom 5 satellite de-orbit and the impairment of other satellites in 2019.

 

THCOM’s revenue from sales of goods and rendering of services for 2Q20 was Baht 873 million, dropped by 28.2% from Baht 1,217 million for 2Q19, regarding the lower revenue from satellite and related services from both conventional and broadband satellites, also a decline of internet and media services from the divestment of Cambodian DTV Network Company Limited (CDN) in 2019. Compared with 1Q20, the consolidated revenue from sales of goods and rendering of services decreased 9.5%, mainly due to a drop in revenue from lower usages of satellite and related services, especially broadband.

The overall utilization rate for Thaicom 6, Thaicom 7, and Thaicom 8, as at the end of 2Q20 was 63%, down from 65% as at the end of 1Q20. For broadband satellite, the Thaicom 4, the utilization rate was 19%, decreased from 21% as at the end 1Q20, mainly from the drop of bandwidth consumption from foreign customers.