AOT Reports Strong Turnaround in FY2023 with THB8.8 Billion of Net Profit

Airports of Thailand Public Company Limited (SET: AOT) has announced its financial results for the fiscal year ending September 2023 as follows;

Fiscal Year 2023 2022
Net Profit (Loss)
Million Baht
8,790.87 -11,087.87
Earning Per Share
0.6200 -0.7800

AOT reported a net profit of Baht 8,790 million in FY2023, a huge turnaround from a net loss of over Baht 11 billion in FY2022. The increase was mainly due to growth by 62.22% or 639,891 overall traffic volume, comprising 321,053 international flights and 318,838 domestic flights. The total number of passengers also increased by 114% with slightly more than half of the figures being international passengers. This was mainly because the current pandemic situation of Covid-19 has unraveled together with the aviation industry and tourism sector beginning to recover.

On September 28, 2023, AOT held a soft opening of SAT-1 Terminal at Suvarnabhumi Airport. The use of the building will increase the capacity to accommodate passengers for Suvarnabhumi Airport from 45 million passengers per year to 60 million. 

Total revenues of AOT in 2023 increased by 170% to Baht 48.4 billion with only 18% increase in total expenses, excluding income tax.