Bangkok--11 Feb--Thaicom
Thaicom Public Company Limited (THCOM), a leading Asian satellite operator, today announced its 2015 operating results. The company generated a consolidated net profit of 2,122 million baht, up 521 million baht or 32.5% from the previous year, largely due to successful booking of THAICOM 7's entire capacity as well as growth in international business. The company also reported a separate net profit of 794 million baht, down 224 million baht or 22.0% from 2014 due to exchange rate fluctuations and impairment loss on investment in an Australian subsidiary. But the company is still able to pay dividends to shareholders at a rate of 0.65 Baht per share.
Paiboon Panuwattanawong, Chief Executive Officer of Thaicom PLC, stated that "2015 was another good year for Thaicom. The company brought in 12,453 million baht from sale of goods and rendering of services, with an increase of 560 million baht or 4.7% from the previous year due to continued growth in our satellite business. In particular, our broadcast business saw significant growth, with improved signal and more channels. Currently, the number of Thaicom's satellite TV Channel increased from 702 to 792, with 126 HD channels. THAICOM 7 is now 100% booked and there is already more demand for THAICOM 8, which yet again demonstrates the growth in HD."
Thaicom has also successfully managed its supplementary and international businesses, through its subsidiaries, to drive further profitability. CS LoxInfo Public Company Limited (CSL) experienced continued increases in revenue due to growth in its corporate leased line and Internet data center services. Lao Telecommunications Company Limited (LTC) maintained the top slot in the Laotian mobile phone market, with a 52% market share, up from 47% in the previous year. LTC has a total of 1,947,996 mobile network subscribers, up from1,712,506 and the end of 2014. Meanwhile, Cambodian DTV Network Limited (CDN) saw growth from increased sales of satellite receiver sets. Thaicom also made gains from the sale of its shares in the Chinese company Synertone Communication Corporation (Synertone).
However, in 2015, the company incurred an impairment loss on investment in one of its subsidiaries, IPSTAR Australia Pty Limited (IPA). To comply with prudent practice based on accounting standard, the company realized a loss on investment of 454 million baht. Since it is a non-cash item, the impairment has neither affected the company's consolidated performance nor impacted the cash flow. The company is still able to make dividend payments of 0.65 Baht per share. Dividend payments must be approved by a resolution of the Annual General Meeting of shareholders which will be held this coming March.
"From here on out, Thaicom will focus on growing both its satellite and end-to-end services for customers in Thailand as well as abroad. We are moving forward with THAICOM 8, which is slated to launch in the first half of this year, while looking into the feasibility of THAICOM 9 as well as other future satellites. With a firm foundation of cooperation among suppliers and partners, Thaicom's top priority moving forward is to grow sustainably, continuing to practice good governance in every step that we take," Mr. Panuwattanawong added.