- Total Revenue in 2Q 2024: Reached THB 2,241mn, up 10.2% YoY, driven by growth across all business segments, particularly the OOH business, with an advertising usage rate of 76.0%, exceeding the company’s forecast
- Net Profit in 2Q 2024: Reached THB 264mn, representing a solid and sustainable growth of 16.1% YoY due to improved operational performance and a solid gross profit margin of 32.0%
- Free Cash Flow: The company generated THB 1,516mn in free cash flow, reflecting its stable and sustainable profitability
Dr. Pinijsorn Luechaikajornpan, Managing Director, stated, “The 2Q 2024 performance demonstrates our strong growth capability compared to last year, both in terms of revenue and net profit. Plan B achieved total revenue of THB 2,241 mn, growing by 10.2% YoY, driven by growth in all business segments, especially the OOH business, which generated THB 1,820mn in revenue, up 12.4% YoY. This growth is attributed to the recovery of out-of-home advertising spending, mainly supported by the food and beverage and consumer goods sectors, which grew in line with economic conditions. Additionally, the automotive sector continued its marketing campaigns from the previous quarter, particularly in the electric vehicle segment, which saw a continuous increase in advertising spending.
Furthermore, the engagement marketing business continued to grow, generating THB 401mn in revenue, a slight increase of 1.5% YoY, supported by revenue from broadcasting rights in Thailand across all channels, including promotions and sponsorships, totalling THB 73mn. The boxing sports business also continued to perform well, receiving strong responses from domestic and international audiences and ticket price adjustments, resulting in THB 120mn in revenue, growing over 100% YoY. Plan B delivered a solid net profit of THB 264mn in 2Q 2024, up 16.1% YoY, driven by improved operational performance and a robust gross profit margin of 32.0%.”
“In 2Q 2024, the company repaid an additional THB 100mn in short-term bank loans, reducing its remaining short-term debt to just THB 165mn. This resulted in a Net D/E Ratio of 0.61x and an IBD/E Ratio of 0.14x. Additionally, the company generated positive free cash flow of THB 1,516mn, reflecting a solid financial position and readiness to pursue further investment and business expansion in the future,” added Dr. Pinijsorn Luechaikajornpan
Dr. Pinijsorn Luechaikajohnpan stated, “In addition to our strong performance in 2Q 2024, we are also very pleased and proud that Plan B has been selected as one of the 100 companies in the ESG100 Universe for 2024 by Thaipat Institute for the second consecutive year. This selection is based on our outstanding performance in environmental, social, and governance (ESG) aspects, chosen from 920 listed companies. Plan B is the only company in the advertising media sector to be included in the ESG100 group for 2024, reinforcing our commitment and excellence in sustainable business practices.”
