ADVANC Eyes THB28 Billion of FBB Revenue in 2023 with Gradual 5% Growth Moving Forward

Advanced Info Service expects to see around 5% growth under its fixed broadband segment after the merger with Triple Broadband Public Company Limited that was settled in the final quarter of this year.


It takes a year for Advanced Info Service Public Company Limited (SET: ADVANC or AIS) to financially get a greenlight from National Broadcasting and Telecommunication Commission, a Thai regulatory agency, to merge with Triple T Broadband Public Company Limited (3BB) in an acquisition from Jasmine International Public Company Limited (SET: JAS) at a total investment value of 28,371 million baht that also included an acquisition of and Jasmine Broadband Internet Infrastructure Fund (SET: JASIF) as well.

The merger between ADVANC and 3BB aims to combine 9-year knowledge of fixed broadband (FBB) from ADVANC with 20+ years from 3BB. This is to strengthen ADVANC’s FBB business that has a high customer base in the capital area with 3BB’s strong network in the provincial area.

Mr. Tee Seeumpornroj, Chief Executive Officer of Broadband Business AIS, said at a press conference on November 22, 2023, after the grand opening of AIS-3BB “BOOST YOUR BRIGHTER FUTURE, that ADVANC expected to record 27-28 billion baht of FBB revenue in 2023, while seeing around 5% growth moving forward.

JAS, which was the owner of 3BB as of the third quarter ending 30 September 2023, reported that it had 13,205 million baht or revenue under its Broadband and Internet TV Service Segment for the first nine months of this year. Meanwhile, ADVANC recorded about 8,588 million baht of revenue in the first nine months.

Under its “AIS – 3BB FIBRE 3” brand, the company is expecting to introduce more and better services to its customers, including Home Fiber Lan service that will boost internet strength in a 2-3 story house.

One of the notable services by ADVANC is “Cloud PC” that could be a new value-added product for ADVANC aside from the mobile segment that accounts to around 90% of the total revenue. It is a small portable device that has the same performance as a PC. Users will require only a mouse, keyboard and a screen for its full functionality. ADVANC’s Cloud PC is expected to launch early next year.

The CEO of AIS Broadband business admitted that it will be a challenge to overcome the high cost and expense of 3BB after the merger, but he has confidence that the overall performance will remain strong.

As for the establishment of infrastructure fund, Mr. Tee noted that the matter is still under consideration. Meanwhile, Mr. Somchai Lertsutiwong, Chief Executive of ADVANC, added that there will not be any spinoff after the merger of its FBB segment.


The consensus by LSEG, formerly known as Refinitiv, estimated ADVANC’s 2023 revenue at 192 billion baht, approx. 4% growth from last year. This should be an estimation excluding revenue from 3BB. Meanwhile, net profit for the year is expected to report at 29 billion baht, an increase by 11% from last year.

The share price of ADVANC closed at THB218 per share on Wednesday. The consensus gave a target price at THB251.39 per share, representing a 15% upside from the current price. 13 out of 16 analysts recommended “BUY” on ADVANC, while three recommended investors to “Hold” and there are no “Sell” recommendation.