AOT Reports THB343 Million Net Profit in 1Q23 as Air Travel Returns

Airports of Thailand Public Company Limited (SET: AOT) has announced its the financial statements
for the three-month period ended December 31st, 2022 through the Stock Exchange of Thailand as follows;

Quarter 1Q23 1Q22
Net Profit (Loss)
Million Baht
342.77 (4,271.66)
Earning Per Share
0.02 (0.30)
% Change 108.02

For the three-month period ended December 31st, 2022, AOT generated net profit of Baht 342.77 million. Operating results increased from those of the prior year’s corresponding period with a net loss of Baht 4,271.66 million. 

Revenues from sales or services increased by Baht 6,496.69 million or 279.15% as a result of an increase in aeronautical revenue of Baht 3,498.58 million or 410.38% and non-aeronautical revenue of Baht 2,998.11 million or 203.09% because of a rise in the number of flights and passengers. 

Other income decreased by Baht 509.99 million or 91.39%. Total expenses increased by Baht 85.92 million or 1.14% mainly due to an increase in employee benefit expenses, outsourcing expenses and utilities expenses, while other expenses and loss on derivatives decreased. 

In addition, finance cost decreased by Baht 10.54 million or 1.43%. Income tax expenses increased by Baht 1,205.95 million or 110.60%, which was in line with an increase in operating results.

In the first quarter of FY 2023, the air traffic volume of the six airports under AOT’s responsibility increased by 105.04% or 150,378 flights compared to that of the corresponding period of the prior year, comprising 66,829 international flights and 83,549 domestic flights. The total number of passengers increased by 232.93% or 23.01 million passengers compared to that of the corresponding period of the prior year, comprising 10.98 million international passengers and 12.03 million domestic passengers.