The Investor Relations department of Major Cineplex Group Public Company Limited (SET: MAJOR) revealed to “Kaohoon” that the company will hold a board of directors meeting to approve the operating results for 3Q25 and announce the financial statements on November 11, 2025.
Preliminary assessments indicate that revenue from sales and services should grow compared to the same period last year, due to the strong performance of blockbuster films such as Demon Slayer and Jurassic World Rebirth.
Looking ahead, the company expects operating results in 4Q25 to see strong growth, supported by five Thai films under M STUDIO: “Thee Yod 3” (released October 1, 2025, currently grossing over THB 400 million), “Suea” (released October 23, 2025), “Mue Puen” (a collaboration with Plan B Media Public Company Limited (SET: PLANB), released November 27, 2025), “Anong Song..Sam Si Chat” (a collaboration with Workpoint, released October 30, 2025), and “Moo Ban Ko Ka Lok” (released November 6, 2025).
Additionally, other interesting Thai films are slated for release, including “Khang Ban” on December 4, 2025, “Diva..Ravi” on December 10, 2025, and “Hor Taew Tak Haek Lee Hoo” on December 25, 2025. As for Hollywood movies, “Avatar: Fire and Dust” is scheduled to premiere on December 18, 2025. It is expected that these films will receive positive responses and generate higher revenue compared to 4Q24, which only had major earners like Thee Yod 2 and Wai Num.
For the full year 2025, the company targets a total cinema attendance of 30 million, divided into approximately 12–13 million for Thai films and 18 million for Hollywood films, compared to last year’s 27 million (with approximately 15 million for Thai films and 12 million for Hollywood films).
Phillip Securities (Thailand) recommends a “BUY” rating for MAJOR, setting a 2026 target price of THB 12.60 per share. They expect 3Q25 net profit to reach THB 106 million, up 109.7% from the same period last year (THB 50 million), supported by top-grossing movies: Demon Slayer (THB 201 million), Jurassic World (THB 198 million), and Superman (THB 64 million).
Total revenue is forecasted at THB 1,948 million, up 17.4%, with ticket revenue up 36%, food and beverage up 21%, advertising down 34%, bowling up 3%, and rental income up 3%.
Costs are projected to increase 17.7%, in line with higher selling, general & administrative (SG&A) expenses rising 5%, partly due to a THB 25–30 million expense for returning Siam Paragon space. Excluding that, the SG&A is anticipated to remain flat.
