THCOM Bounces Back to ฿513Mn of Profit from One-Time Gain in 2020, Offering Bt0.20 Div.

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

THCOM recorded a net profit of 513 million baht in 2020, bounced back from a net loss of 2,249 million baht in 2019. The majority of the net profit came from extra items, comprising compensation income, contract restructuring transaction, and other one-time items, offsetting with loss from foreign exchange. THCOM’s normalized profit (loss) for 2020 and 2019 was (135) million baht and (304) million baht, respectively.

 

The company’s consolidated revenue from sales of goods and rendering of services for 2020 was 3,557 million baht, decreased 23.7% from 4,663 million baht for 2019, resulting from the decrease of revenue from satellite and related services, which was due mainly to the Thaicom 5 satellite deorbit in February 2020. This resulted in the service termination, especially foreign customers that were not able to migrate to Thaicom’s other satellites.

The decrease of revenue was also the result of a decline of digital television channels, together with the decrease of broadband services to foreign customers.

In addition, the sale of investment of Cambodian DTV Network Limited (CDN) also caused the drop of revenue from internet and media services.

 

The Board of Directors of THCOM approved a dividend payment of ฿0.20/share to be paid on April 19, 2021. The ex-dividend date will be on February 18, 2021.