BEC World Public Company Limited (SET: BEC) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
45.94 | 37.91 |
| Earning Per Share (Baht) |
0.0230 | 0.0190 |
| % Change | 21.17 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
131.56 | 116.53 |
| Earning Per Share (Baht) | 0.0660 | 0.0580 |
| % Change | 12.90 | |
BEC reported a consolidated net profit attributable to the company in 3Q/2024 in the amount of Baht 45.9 million or decreasing 35.7% QOQ, but increasing 21.2% YoY. The Company’s operating decline from the previous quarter was a result of the slowdown in television media advertising spending in 30/2024 which was pressured by a fragile economy suffering from many factors and lower purchasing power from cost-of-living increase. These factors have impacted the Company’s advertising income in this quarter.
BEC Group generated income from copyrights and other services, comprising revenue from three main businesses: Global Content Licensing Business, Digital Platform Business and new business “Events & Artist Management*, totaling Baht 249.0 million, accounting for 23,3% of BEC Group’s operating income. This represented an Increase of 35,8% QoQ from 2Q/2024 and an Increase of 28.0% YoY from 3Q/2023.
In summary, the Company continued to maintain a strong financial position, with cash and cash equivalents, including short-term investments, totaling Baht 4,323.2 million in the statement of financial position as at the end of 3Q/2024. Additionally, the Company had a net cash flow from operating activities of Baht 1,397.9 million.
In 3Q/2024, BEC Group’s selling and administrative expenses amounted to Baht 183.9 million, increasing Baht 10.7 million or 6.2% QoQ from the previous quarter. However, it decreased by Baht 45.9 million, or 20.0% YoY from 3Q/2023 from controlling marketing expenses and drama promotion to be effective and reach the target group in line with a decrease in the revenues.
