Thaicom Q3 down 23% YoY
November 5, 2020
Satellite operator Thaicom has reported Q3 revenue from sales and services of Baht 918 million (€25.1m), down by 23 per cent compared to Q3/2019. This was caused by a drop in revenue as a result of Thaicom 5 satellite de-orbit.
However, the Company’s net profit for Q3 was Baht 77 million, improved from the netloss of Baht 113 million for Q3/2019 due to the decrease of depreciation from Thaicom 5 satellite de-orbit and the impairment of other satellites in 2019, together with an increased foreign exchange gain.
Comparing to Q2/2020, the company’s revenue from sales and services arose by 5 per cent owing to a revenue growth from conventional satellite service. The net profit for Q3/2020, compared to previous quarter at Baht 498 million, mainly decreased from the compensation income in Q2/2020.
The overall utilisation rate for Thaicom 6, Thaicom 7, and Thaicom 8 as at the end of Q3/2020 was 65 per cent, up from 63 per cent as at the end of Q2/2020, due to an increase of bandwidth consumption from foreign customers. For broadband satellite, the Thaicom 4, the utilisation rate was 19 per cent, remained steady compared to the end Q2/2020.