Bangkok--23 Jul--DTAC
dtac’s Q209
dtac released its Q209 results showing a continued slow down in sub growth and lower service revenue, which were mainly driven by seasonality and the ongoing economic downturn. It added another 254,933 subscribers, hence bringing its total subscriber base at the end of the quarter to 19.2 million.
Total revenue for Q209 was THB 16.0 billion, declining 3% QoQ as a result of a sharp contraction of revenue from international business (IR and IDD). However, domestically generated revenue held up quite well. EBITDA dropped by only 1% QoQ due to stringent cost control and net profit came in at THB 1.4 billion, down by 7% from last quarter.
CEO Tore Johnsen said, "Although total revenue declined modestly in the second quarter, we started to see some results from the cost efficiency programs currently implemented in dtac. We will continue to implement more programs as the outlook for the overall economy remains bleak. As a commitment to this, we've established the target for cost reduction of approximately THB 2.0 billion by the end of 2010 and maintained our free cash flow target for this year at THB 12.0 billion."