ADVANC Posts Net Profit of THB6.3 Billion in 2Q22, Down 10% YoY

Advanced Info Service Public Company Limited (SET: ADVANC) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q22 2Q21
Net Profit (Loss)
Million Baht
6,305 7,041
Earning Per Share
2.12 2.37
% Change -10
6 Months 2022 2021
Net Profit (Loss)
Million Baht
12,616 13,685
Earning Per Share (Baht) 4.24 4.60
% Change -7.8

ADVANC reported a net profit of THB6,305 million in 2Q22, was flat QoQ but dropped -10% YoY from FX loss and high base of 2Q21 with one-time other income.

EBITDA was at THB22,353 million, decreasing -2.8% YoY following the increase of cost and marketing expense, however, EBITDA was flat QoQ. EBITDA margin was at 49%, compared to 54% in 2Q21, from a higher mix of handset sales revenue.

ADVANC generated total revenue of THB45,273 million, increasing 5.9% YoY due to growth in broadband and enterprise business with a recovery in handset sales from a low base in 2021 amid pandemic restriction. For
QoQ, total revenue was flat with a slight increase in core service revenue offset by lower device sales.

In 2Q22, mobile subscriber addition was strong at 881K driven by traveler segment from the border re-opening as well as strong domestic acquisition from rising economic activity. AIS remained the focus on driving 5G adoption reaching 3.9 million subscribers with ARPU uplift of around 10-15%. However, ARPU continued under pressure from low-price unlimited data plans, particularly in the prepaid offerings.
AIS Fibre customers continued surging and closed 2Q22 at 1.97 million subscribers, with a net increase of 106k
subscribers 5.7% QoQ, and an increase of 28% YoY, despite subsiding demand to work from home. The increase was
driven by a low-price entry package and expanding acquisitions in new areas. AIS Fibre continued to focus on service
quality and fixed-mobile-content convergence (FMC) strategy to acquire new subscribers. However, the low-price
offering to acquire new subscribers caused a downward trend in ARPU falling to Bt432 or -3.1% QoQ.