Infraset Public Company Limited (INSET) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;
For the year ending 31 December 2020, INSET’s net profit was 135.49 million Baht, an increase of 12.8% YoY, while net profit margin was lower than last year. The main reason was revenue recognition from large projects with lower gross profit margins than smaller ones. As a result, INSET’s gross profit margin was 15.54%, decreased from last year which was 17.49%. However, selling and administrative expenses decreased by 1.56 million Baht 2.31%. The revenues were 1,504.07 million Baht.
The increase in revenue in 2020 compared with last year was due to the expedited delivery of 2 projects including 1. the installation of 850 MHz frequency band filter circuit according to the Notification of National Broadcasting and Telecommunications Commission regarding the 824-839/869-884 MHz frequency band for the international mobile telecommunications plan and 885-895/930-940 MHz frequency band for the mobile telecommunications plan of CAT Telecom Public Company Limited, total project value of 1,088.25 million Baht (exclude VAT) and 2. New Tier III Modular DC (BBT) (KTBCS), total project value of 317.05 million Baht (exclude VAT).
Maintenance and service revenue significantly increased from 2019 due to the recognition of MA USO-I full-year income and the beginning of MA USO-II revenue recognition for areas that service has been delivered to NBTC since January 2020.
In addition, the Board of Directors has resolved the resolution for a dividend payment of 1) a common stock dividend at the rate of 10:1 and 2) a cash dividend of 0.0.81 baht per share to be paid on May 20, 2021. The ex-dividend date will be on April 28, 2021.