True Corp highlights growth in mobile and fixed segments

4 Mar 2015

At the end of 2014, Thailand’s True Corp claimed a mobile subscriber base of 23.6 million, of which 21.9 million were 3G or 4G network customers, representing 93% of the total; the figures were up from a total of 22.9 million mobile users at end-2013 (53%, or 12.2 million, of which were 3G/4G customers).

The quadruple-play group’s total revenue grew by 9.9% to THB86.986 billion (USD2.685 billion) in full-year 2014, while total core annual service revenue grew by 4.5% to THB67.497 billion. Cellular service revenue increased 9.1% year-on-year to THB38.4 billion, and the company claimed that its service revenue market share in Thailand grew to 17.8% in the fourth quarter of 2014 (‘from an average of 15.9% in the previous year’ according to its own calculations). Mobile non-voice revenue increased 24.0% y-o-y to THB16.7 billion in FY 2014, representing 43.5% of cellular service revenue, driven by a substantial growth of mobile internet usage, whose contribution rose to 82.3% of pre-/post-paid non-voice revenue.

Fixed telecoms network division True Online saw service revenue increase 2.0% y-o-y to THB25.6 billion in FY14 due to robust growth of broadband internet despite declining contribution from traditional voice services. Broadband internet revenue surged 15.1% to THB16.5 billion driven by strong performance in both consumer and corporate segments. Broadband revenue contribution increased to 65% of True Online’s service revenue in 2014, up from 50% in the previous year. Continued solid take-up of True Online’s standalone and convergence packages along with ongoing network expansion across Thailand’s provinces fuelled record-high broadband subscriber base net growth of 272,000 in twelve months to reach 2.082 million active connections at end-December.

Thailand, True Corp