True’s losses widen in Q2

15 Aug 2013

Thai quadruple-play telecoms group True Corp has reported that its consolidated service revenues rose by 8.9% year-on-year in the second quarter of 2013 to THB16.4 billion (USD523 million), while EBITDA grew by 8.1% to THB4.3 billion. Underlying the consolidated results, mobile service revenues grew 10.6% to THB8.5 billion, as 3G/4G mobile division TrueMove H’s subscribers increased by 678,000 during the second quarter to reach 3.9 million at the end of June 2013 while the overall mobile customer base reached 22.1 million at that date. Fixed line and broadband division True Online posted a 9.6% y-o-y increase in Q2 revenues to THB7.5 billion, as it added 56,000 net new fixed broadband subscribers in three months to take its total to 1.7 million. Pay-TV unit TrueVisions reported revenue of THB2.8 billion, up 16.2% y-o-y. However, True Corp’s consolidated net loss for the three months ended 30 June 2013 widened year-on-year to THB3.2 billion compared to THB2.2 billion in Q2 2012, partly due to foreign exchange rate losses from Baht deprecation (totalling THB550 million in 2Q13).

Thailand, True Corp