An Unexpected Change of Event! THCOM Turns to Book ฿230M. Profit in 2018, No Dividend!

THCOM has reported 230 million baht of profit from 2018 operation, turnaround from the net loss of 2,650 million baht in 2017.

THCOM Public Company Limited (THCOM) has reported its consolidated statement yearly 2018 through the Stock Exchange of Thailand as follows:

THCOM reported a consolidated net profit for 2018, taking into account the impairment, of ฿230 million, improving from the previous year that reported the net loss of ฿2,650 million. This was mainly due to the recognition of gain from sales of CS Loxinfo Public Company Limited (CSL)’s share.

Moreover, a decrease in depreciation and amortization after the recognition of satellite assets impairment in 2017 and an effective cost management. Considering only normal profit of the year, 2018 normalized profit was ฿140 million, improving significantly from ฿20 million for that of 2017.

THCOM’s consolidated revenue from sales of goods and rendering of services for 2018 was ฿6,008 million, a decrease of 10.2% from ฿6,689 million for 2017, mainly due to the decrease of price per unit sold following the industry downtrend and the churn of major customers during 2017.

As for the unexpected change of event following the previous report from Kaohoon titled: THCOM Has Been Rumored of Paying Big Fat Dividend before Changing Hands, THCOM did not report of offering a dividend from its 2018 operation.