ADVANC Announces 12% Profit Growth in 2023 with THB4.61 Dividend Payment

Advanced Info Service Public Company Limited (SET: ADVANC) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2023 2022
Net Profit (Loss)
Million Baht
29,086.11 26,011.28
Earning Per Share
9.7800 8.7500
% Change 11.82

ADVANC reported a net profit of Bt29,086 million, increasing 12% YoY reflecting an improved operating performance, and a one-time gain from FX.

In 2023, ADVANC reported a core service revenue of Bt138,569 million, increasing 4.2% YoY, attributed to the performance of all core services dedicated to delivering high-quality products, as well as additional revenue recognition since mid Nov-23 from the acquisition of TTTBB to expand broadband business. 

Mobile revenue reported Bt118,130 million, increasing 1.2% YoY, driven by expanded Thai consumption and notable recovery in tourist-related usage. The resumed growth was driven by delivering superior quality in network and services with value-based package structures, together with the deployment of personalized cross-selling upselling services to attract and retain high-quality customers at higher ARPU. Blended ARPU increased to 223 Baht in 4Q23, compared to 213 Baht in 4Q22, reflecting a 4.7% YoY increase. The number of 5G subscribers increased to 9.2 million numbers, growing 34% YoY. 

ADVANC prioritized elevating service quality, particularly the quality of the 5G network which presently covers nearly 90% of the Thai population nationwide, utilizing the 700MHz and 2600MHz frequency bands for optimal coverage and best user experience. As a result, AIS 5G users experienced substantial growth reaching 9.2 million subscribers, or 20% of the total subscriber base.  

Fixed broadband revenue achieved Bt13,621 million, a noteworthy 35% YoY growth. The surge is attributed to a larger revenue base resulting from the inclusion of TTTBB since mid Nov-23 which expanded its broadband business subscriber market share to around 45%. AIS Fibre also continued to achieve strong growth through the acquisition of new subscribers in a broader footprint while offering higher values, led by quality products and services with advanced technologies, driving sales of higher ARPU packages.

AIS FIBRE’s ARPU reached 434 Baht in 4Q23, marking a 6.6% YoY increase on a standalone basis. Combined with TTTBB, the blended ARPU was uplifted to 490 Baht with a strong quality TTTBB subscriber base. 

Meanwhile, non-mobile enterprise business posted a revenue of Bt5,792 million, growing 10% YoY, despite global economic challenges and political uncertainties in Thailand during 2Q-3Q23. The emphasis was on high margin services beyond connectivity with enhanced technology like SD-WAN, value-added services such as business cloud, and specific 5G vertical solutions to enhance operational efficiency in targeted industries. In addition, enterprise non-mobile revenue also benefited from TTTBB enterprise revenue consolidation. 

Additionally, the Board of Directors has announced a dividend payment of THB4.61 per share to be paid on 17 April 2024. The ex-dividend date is February 19, 2024.