ADVANC Posts Better-than-Expected Earnings of ฿7.04Bn in 2Q, Offering a Dividend of ฿3.45
ADVANC reported net profit of 7,041 million baht, increasing 0.6% YoY, from one-time items in other income (below EBTDA) of approximately 500 million baht.
ADVANC reported net profit of 7,041 million baht, increasing 0.6% YoY, from one-time items in other income (below EBTDA) of approximately 500 million baht.
3 ส.ค. 2564

Advanced Info Service Public Company Limited (ADVANC) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

In 2Q21, ADVANC reported net profit of 7,041 million baht, increasing 0.6% YoY and 6.0% QoQ from one-time items in other income (below EBTDA) of approximately 500 million baht. Excluding the one-time expense, normalized net profit was 6,639 billion baht decreased 5.2% YoY from higher spectrum amortization but remained flat QoQ.
EBITDA was 23,006 million baht increasing 3.2% YoY and 1.9% QoQ due to weak core service revenue offset by continuous cost optimization, with an EBITDA margin of 53.8% improved from 49.2% in 1Q21. 
Meanwhile, the total revenue for the period was 42,757 million baht, increasing 1.2% YoY on the back of higher handset sales, but decreasing -6.8% QoQ following the ongoing effect of the COVID-19 pandemic and market competition. 
Core service revenue (excluding IC and TOT partnership) was 32,353 million baht, flat YoY and QoQ from a decrease in mobile revenue offset by solid growth in fixed broadband and enterprise segments.
Revenue from interconnection charge (IC) and TOT partnership reported at 3,288 million baht, decreasing -4.4% YoY and -12% QoQ following lower network traffic and IC revenue.
SIM &amp; Device sales reported 7,116  million baht, increasing 8.9% YoY but decreasing -27% QoQ. Sim &amp; Device margin remained positive at +2.7%, compared to +2.5% in 2Q20 and +0.6% in 1Q21 due to more efficient subsidy.
In addition, ADVANC has passed a resolution to offer an interim dividend payment at the rate of 3.45 baht per share to be paid on September 1, 2021, with an Ex-dividend date on August 16, 2021.
 
In July, Phillip Securities gave a “BUY” recommendation on ADVANC with a target price at Bt224, but expected that the net profit in 2Q21 would decline to 6,735 million baht, which was lower than the actual net profit announced today. Phillip Securities estimated that service revenue would be stable, but the high competition in mobile and broadband business would pressure ARPU, while the Covid-19 outbreak continued to pressure its operations.