True’s 3G/4G users reach 59% of total

16 May 2014

Thailand’s True Corp has reported that its cellular service revenue grew 1.7% quarter-on-quarter and 9.1% year-on-year to THB9.3 billion (USD286 million) in 1Q14 due to solid performance of its 3G/4G ‘True Move H’ business, with especially strong momentum in the mobile non-voice and smart device segments offsetting revenue declines in fixed network and pay-TV divisions. True served a total of 23.1 million mobile subscribers at the end of 1Q14, up from 21.5 million a year ago, while 3G/4G customers grew to 13.6 million at 31 March 2014, up from 3.2 million twelve months earlier, representing 59% of the total subscriber base. True also noted that its 3G/4G service ‘achieved its breakeven point during the quarter.’ True Corp swung to a consolidated net profit of THB3.9 billion in the three months to the end of March 2014 (compared to a net loss of THB1.1 billion in the year-ago period), on total revenues which climbed from THB23.9 billion to THB25.1 billion over the same period, while group EBITDA remained flat year-on-year at THB4.7 billion. Fixed network division True Online posted a 13.6% y-o-y revenue decline to THB6.3 billion in Q1 2014 despite net fixed broadband customer additions of 60,000 in the quarter, while revenues at pay-TV division TrueVisions fell 9.7% to THB9.7 billion.

Thailand, True Corp