Total Access Communication Public Company Limited (SET: DTAC) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
|Net Profit (Loss)
|Earning Per Share
In 1Q22, DTAC’s net profit amounted to THB726 million, decreasing 11.6% YoY. Normalized net profit remained stable YoY excluding the impact from amalgamation related costs in 1Q22. Net profit improved by 324.6% QoQ due to negative impact from one-time asset write-off in 4Q21.
BITDA in 1Q22 amounted to THB7,184 million, declining by 3.9% YoY due to lower revenues offset by structural initiatives. Normalized for the amalgamation related costs, EBITDA declined by 2.4% YoY. EBITDA improved 2.6% QoQ driven by structural initiatives, cost optimization and because of seasonally higher sales and marketing expenses in the previous quarter. EBITDA margin (excluding revenues from CAT lease agreements and TOT network rental) was 43.5% in 1Q22, increasing from 38.9% in 4Q21. Including normalization for amalgamation related costs, 1Q22 saw a healthy EBITDA margin of 44.2%.
Meanwhile, total revenues for the quarter amounted to THB20,131 million, declining by 1.9% YoY and 6.7% QoQ, mainly driven by lower handset sales compared to 4Q21. Service revenues excluding IC amounted to THB13,796 million for 1Q22, declining by 2.5% YoY and by 1.4% QoQ due to slow macroeconomic recovery from COVID-19 and significantly aggressive competition.
At the end of 1Q22, total subscriber base stood at 19.9 million, an increase of 0.3million from the end of 2021, registering the highest subscriber net adds since 1Q16. Postpaid subscriber base stood at 6.2 million, increasing by 51.7K YoY and 12.2K from the end of 2021 as a result of improved churn. Prepaid subscribers increased by 728K YoY and by 292K QoQ to 13.7 million, driven by our regionalized approach and gradual yet slow recovery from pandemic related restrictions.