JAS Pays No Dividend despite THB19.8 Billion of Net Profit in 2023 from Asset Sales

Jasmine International Public Company Limited (SET: JAS) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2023 2022
Net Profit (Loss)
Million Baht
19,837.38 -2,028.59
Earning Per Share
2.3100 -0.2400

JAS reported a net profit of 19,837 million baht in 2023, a contrast to a net loss of 2,028 million baht in 2022. The turnaround was mainly due to gains on sales of investment in TTTBB and JASIF investment unit to a Advanced Wireless Network Company Limited (AWN), a subsidiary of Advanced Info Service Public Company Limited (SET: ADVANC) at the total amount of 26,431 million baht.

Without extra items, JAS recorded 133 million baht of revenue from Internet TV Service Segment in 2023, up from a million baht of revenue in 2022. Meanwhile, the revenue generated by Digital Asset & Technology Solution Segment was of 1,729 million Baht, increased by 196 million Baht or 13% YoY, which was a result of an increase in the revenue obtained from domestic circuit leasing service and the increase in the service fee of the international  private circuit leasing service.

As regards the Bitcoin mining business, in 2023, it generated a revenue of 129 million Baht, decreased by 14 million Baht or 10% YoY. At present, the number of Bitcoins in possession was 245.88630025 Bitcoins, increased by 66.55934183 Bitcoins or 37% YoY.

For the year 2023, the revenue generated by other segments was 359 million Baht, increased by 220 million Baht or 158% YoY, most of which was from corporate internet connectivity service provision.

Meanwhile, the operating expenses for the year 2023 were of 6,221 million Baht, increased by 2,711 million Baht or 77% YoY, compared to the year 2022 in which the operating expenses were recorded at 3,510 million Baht.

In addition, the Board of Directors approved to omit the dividend payment for the operation in 2023.