AIS unveiled solid performance for 2Q23 with net profit of Bt7,180mn growing 14% YoY Focusing on bringing strengths in innovation, superior quality, and user experiences towards achieving Cognitive Tech-Co

AIS disclosed its operating results for 2nd quarter of 2023, recording a total revenue of Bt44,774mn, declining 1.1% YoY and 4.1% QoQ, from low seasonality of mobile device sales. The net profit reported strong at Bt7,180mn, growing 14% from growth in core service revenue and costs controls couple with a focus on excellence service quality in all dimensions. Looking forward to 2nd half of the year, AIS will continue to uplift capabilities of the core businesses by strengthening efficiency of 5G autonomous network to support genuine demand from users, expanding the fixed broadband network coverage to underserved areas, and also developing network and solutions for enterprises segment with annual planned CAPEX budgets of Bt27 – 30 bn, aligned with the vision of transforming towards Cognitive Tech-Co.

Somchai Lertsutiwong, CEO of Advanced Info Services Plc. (AIS) remarked, “The announced vision of transforming towards Cognitive Tech-Co since 2021 shows a better clarity in this year as we have implemented the vision into the organization’s operations including autonomous network to elevate network accuracy and reliability with real time network troubleshooting through AI processing. In addition, intelligent IT infrastructure helps enhancing the service to be more agile and secure while advanced data analytic model is also used to deliver personalized product offering to customers.”

“These efforts helped us delivering the result of the second quarter and for the first half of the year that aligned with our expectations amid the concerns of global economic slowdown. Nonetheless, we also see a gradual rebound of Thailand economy driven by continuous recovery of tourism, which is a key engine of the national Ecosystem Economy.”

For the 2nd quarter of 2023, AIS recorded a total revenue of Bt44,774mn, decreasing 1.1% YoY, and 4.1% QoQ while core service revenue grew 1.8% YoY and 1.1% QoQ. The bottom line was benefitted from effective costs management with AI deployment in network management to automatically adjust the network supply according to the customer demand. This resulted in a net profit of Bt7,180mn, growing 14% YoY, and 6.3% QoQ. EBITDA was at Bt23,317mn, growing 4.3% YoY.

Mobile service revenues grew 1.0% YoY and 0.8% QoQ with 5G subscriptions reaching 7.8 million, growing from 3.9 million as of the second quarter in 2022. AIS total mobile subscribers now at 45.3 million and maintain our leadership in 5G network coverage of 99% in Bangkok and 87% of Thailand’s population coverage nationwide. With AIS having the most spectrum bandwidth in the portfolio, totaling 1460 MHz (including spectrum from partnership with NT, pending NBTC approval), As a result, AIS has a readiness to offer services for enhance the superior user experience.

Fixed Broadband Business continues to perform well, as a result of expanded service coverage backed by superior quality and innovation for broadband service promoted since the beginning of the year. The innovative products include a Transparent Fiber Optic cable that provides Gigabit- level speeds in every room in the home by using the fiber optic network (Fiber to the Room: FTTR), enabling Seamless WiFi-connectivity for an optimal broadband using experience. WiFi 6E, a technology on the new 6GHz spectrum, was launched as a first for the Thailand broadband industry. As a result, AIS Fibre revenues increased 15% YoY, and 5.4% QoQ with broadband subscribers increased by 60,500 from the previous quarter, concluding a total customer base of 2.33 million.

Enterprise (non-mobile) revenues grew 2.2% YoY and is on track to continue partnering with various partners to provide solutions for businesses, from SMEs to large manufacturers and large enterprises to encourage efficient digital transformation under the concepts of mutual growth as customers’ trusted smart digital partner.

Somchai concluded, “Paving way towards Cognitive Tech-Co remains our mission of AIS to uplift the Thai telecom industry to the next level with international capabilities and standards. Most important element is to increase efficiency through autonomous network, the best quality with most coverage fiber broadband network, the exclusive privileges, and excellent services to excel in delivering quality, and the best-in-class user experience for our customers.”