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Thaicom's Q2 revenue drops 8.9%

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Registrado: 05 Jul 2021
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MensajePublicado: Mie Ago 04, 2021 5:27 am    Asunto: Thaicom's Q2 revenue drops 8.9% Responder citando

listed Thaicom reported an 8.9% year-on-year revenue drop to 796 million baht in the second superslot quarter because of declining earnings from both conventional and broadband satellites, as well as the deorbiting of the Thaicom 5 satellite.

The company registered a net loss of 41 million baht in the second quarter, a sharp plunge from a net profit of 498 million in the same quarter a year earlier.

According to the management discussion and analysis sent to the Stock Exchange of Thailand (SET), revenue from conventional satellites, which include Thaicom 5, 6, 7, and 8 satellites along with rental satellites, plunged 11.3% year-on-year to 473 million baht in the second quarter.

"This was mainly caused by the loss of customers from the Thaicom 5 satellite deorbiting, together with lower usage by broadcast customers," the company statement read.

Despite the downturn, the firm's second-quarter revenue from conventional satellites and related services still climbed 2.2% quarterly due to higher usage by foreign customers.

Revenue from Thaicom 4 broadband satellite and related services fell 4.9% year-on-year to 322 million baht, which was caused by a drop in usage by foreign customers, the firm said.

According to Thaicom, the utilisation rate for Thaicom 6, 7 and 8 was 63.7.% at the end of the second quarter, slightly higher than 63.6% at the end of the previous quarter.

Regarding Thaicom 4, the utilisation rate was at 18.1% in the second quarter, up from 18% the previous quarter.

The firm, meanwhile, registered 7 million baht in revenue from internet and media services, down by 5.4% year-on-year and 14% quarterly. It attributed the loss mainly to a drop in rental services for the e-sport platform.

In June, Thaicom set up a new firm, TC Space Connect, to participate in the auction of four satellite orbital slot packages, which has now been rescheduled to take place on Aug 28.

It is so far the sole contender in the auction.
The NBTC is allowing interested parties a new opportunity to buy a bid envelope until Aug 6.

New bidders are allowed to submit their requests and place a bank guarantee by Aug 11.

The auction is crucial for Thaicom, whose satellite-operating concession is set to end next month.
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