Intouch Holdings Public Company Limited (INTUCH) has reported its consolidated financial statement yearly 2018 through the Stock Exchange of Thailand as follows:
The operation throughout the year gave INTUCH a net profit of 11,491 million baht, an increase of 7.66% from 2017, mainly due to lower loss contributed from satellite & international businesses, which had the gain from the divestment of CSL in 2018 and less impairment loss. However, if the divestment gain and impairment loss were excluded, the normalized net profit would have remained stable. Furthermore, net expenses also decreased by 18% mainly due to fewer staff costs.
As for liquidity and cash flow at the end of 2018, the current ratio dropped to 1.8 from 2.1 at the end of 2017, mainly due to an increase of current liabilities in the satellite business as a result from current portion of long‐term debenture, presented in current portion of long‐term borrowings, which will be matured in 2019.
INTOUCH Group monitors its liquidity risk and maintains a level of cash and cash equivalents deemed adequate by the management to finance its operations as well as secure short‐term credit facilities from various banks as a financial backup.
The consolidated cash rose by 811 million baht from the end of 2017 (excluding the impact from foreign currency fluctuation), mainly due to the cash inflow from operating activities in 2018, the sale of investment in CSL Group and dividend receipt, despite the payment of pass‐through dividends, and the repayment of long‐term loans and interest in satellite business.
Revenue from satellite and international businesses, operated by THAICOM, is expected to soften from the previous year due to the continuing slowdown of the satellite leasing industry as well as the TV broadcasting industry following the competitive market. It focuses more on price competition to retain existing customers and attract new ones.
Moreover, INTUCH has also announced that the dividend policy will remain at a minimum of 70% of net profit to preserve cash flow and ensure financial flexibility in order to pursue future growth prospects.
The Board of Directors has resolved the approval for dividend payment of ฿1.17/share on April 24, 2019. The ex-dividend date is on February 21, 2019.