ADVANC Posted 1Q22 Profit of THB 6.3 Billion, Decreasing by 5% YoY amid Steep Price Competition

Advanced Info Services Public Company Limited (SET: ADVANC) announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows:

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht



Earning Per Share



% Change -5.o%

The company reported  net profit was Bt6,311 million, decreasing -5.0% YoY following higher spectrum amortization. In terms of quarter on quarter, net profit dropped -by 8.1% from lower core service revenue and unrealized foreign exchange loss. Excluding foreign exchange impact, normalized net profit was Bt6,345mn, declining -7.0% YoY and -5.8% quarter-on-quarter.

In first quarter 2022, amid the continued Omicron, AIS generated total revenue of Bt45,279mn, decreasing -1.3% YoY mainly due to the economic pressure on mobile business. For QoQ, total revenue dropped -by 10% from the high season of iPhone sales in 4Q21.

Mobile revenue was Bt28,847mn, declining -1.7% YoY and -2.5% QoQ following a downward trend in ARPU due to a prolonged pandemic and continued price competition, despite the subscriber growth.

Fixed broadband revenue was Bt2,437mn, increasing 27% YoY and 6.4% QoQ driven by strong demand from remote working which supported subscriber growth, offsetting a decline YoY in ARPU from aggressive price offering in the market.

Enterprise non-mobile revenue & others were Bt1,486mn, increasing 29% YoY driven by robust demand for Cloud service and ICT solutions, but decreasing -1.9% QoQ.

Revenue from interconnection charge (IC) and TOT partnership were Bt3,239mn, dropped -14% YoY and -4.0% QoQ following lower network traffic with

Device & SIM card sales reported Bt9,270mn, decreasing -4.3% YoY and -32% QoQ. QoQ drop was mainly from high seasonal sales of the new iPhone13 in the previous quarter. However, the sales margin grew from +0.9% in 4Q21 to +1.4% in 1Q22 due to an increased sales mix of higher-margin handsets.

In 1Q22, total mobile subscribers continued to increase 1.1% QoQ and reached 44.6mn, representing a net addition of 507k subscribers. The prepaid segment continued its acquisition momentum with a net addition of 269K subscribers while the postpaid segment also expanded healthily, adding 238k underpinned by solid handset bundling and better churn management. As an impact of low spending amidst Omicron’s spread and price competition, blended ARPU was pressured to drop by -3.5% QoQ to Bt216. At the end of 1Q22, 5G subscribers increased to 2.8mn accounting for 6.3% of the subscriber base.

AIS Fibre customers continued to surge to 1.87mn subscribers, strongly increasing 30% YoY due to robust demand from the continuation of the work-from-home trend, with a net increase of 93k subscribers in the quarter. Although price competition remained intense as operators continued to offer low-price plans and discounts for new acquisitions and to address weak consumption, ARPU slightly rebound to Bt446 or +0.7% QoQ.