DTAC Reports Slight Decline in 2023 Earnings over Lower Revenue, Offering THB1.22 Dividend Payout

Total Access Communication Public Company Limited (SET: DTAC) announced its 2022 financial statement through the Stock Exchange of Thailand as follows;

Year 2022 2021
Net Profit (Loss)
Million Baht
3,119.16 3,355.93
Earning Per Share
(Baht)
1.3200 1.4200
% Change -7.06

DTAC reported a net profit of THB 3,119 million in 2022, a slight decrease by 7.06% from a net profit of THB 3,355 million in 2021.

Total revenues in FY22 amounted to THB 80,600 million, declining by 0.9% YoY. Service revenue excluding IC amounted to 55,512 million for FY22, declining by 1.6% YoY driven by ARPU erosion. Service revenue excluding IC for Q422 declined 0.5% QoQ and 0.9% YoY amounting to THB 13,865 million.

 

At the end of FY2022, total subscriber base stood at 21.2 million, an increase of 1.6 million from the end of 2021. The growth in subscribers was driven by an increase in prepaid subscribers of 146K QoQ and 1.7 million YoY to 15.1 million. Postpaid subscriber base registered a decline of 39K QoQ and 85k YoY.

Average Revenue Per User excluding IC (ARPU) for FY2022 was THB 225 per month, declining by 7.7% YoY, driven by aggressive competition and challenging macroeconomic factors. The easing of pandemic related restrictions and reopening of borders in various countries caused an influx of tourists and migrants in Thailand in the second half of 2022. At the end of FY2022, 29% of total subscriber base were postpaid users. Postpaid ARPU excluding IC for FY2022 was THB 486 per month, a decrease of 2.3% YoY. Prepaid ARPU excluding IC was THB 112 per month, declining by 9.6% YoY.

Traffic on TOT’s 4G-2300MHz network remained at high levels. Number of 4G-2300MHz installed base stations under the partnership with TOT reached approximately 21,870 at the end of FY2022. The number of 4G users reached 14.1 million, representing ~67% of total subscriber base. The number of 4G compatible devices stood at ~79% of the total subscriber base. Smartphone penetration reached ~90%.

 

In addition, DTAC announced a THB1.22 per share dividend payout to be paid on February 22, 2023. The ex-dividend date is on February 13, 2023.