Symphony Communication Public Company Limited (SET: SYMC), a leader in telecommunications services, has announced its operating results for the first nine months of 2024, showcasing continuous growth amid challenging market conditions. The company reported total service revenue of 1,547 million baht, marking a 6% increase compared to the same period last year which excluded one-time gain on the sale of the investment in the associate 63.7 million baht, reflecting its continued focus on drive business growth along with investment in infrastructure to support the increasing remain digital connectivity
Mr. Alex Loh, Chief Operating Officer of Symphony Communication Public Company Limited (SYMC), revealed that Q3 2024 service revenue reached 520.2 million baht, up 4.9% year-on-year and 0.9% from the previous quarter. This growth was driven by increased demand for both domestic and international connectivity services, as well as cloud solutions, security, and information and communication technology (ICT).
“The company’s Q3 performance reflects SYMC’s ability to execute its growth strategy amid rising operational costs and exchange rate volatility. Our core business remains strong, supported by service expansion and infrastructure investments,” said Mr. Alex Loh.
Solid Financial Performance with a Focus on Proactive Strategies
SYMC reported a net profit of 32.5 million baht in Q3 2024, despite incurring 16 million baht unrealized foreign exchange losses. Adjusted net profit for the first nine months stood at 165.5 million baht, maintaining stability after factoring out special items from the previous year.
SYMC’s corporate business segment delivered outstanding performance, contributing significantly to the company’s growth through new service development and strengthened customer relationships in the domestic market.
Looking forward, SYMC is well-positioned to capitalize on Thailand’s emergence as a global technology investment hub, especially in the data center business. The growing demand for connectivity solutions and the shift toward renewable energy align with the company’s sustainability goals.
Strategic Direction for Sustainable Growth
SYMC has planned key initiatives to support its vision of becoming a leader in sustainable technology solutions in Thailand:
- Expanding enterprise solutions with enhanced cloud management and security services.
- Increasing service areas to meet the needs of new and existing customers.
- Upgrading infrastructure and developing service centers to enhance the customer experience and to create better service differentiation to enhance customers assurance and experience
- Implementing cost control efficiency projects to ensure sustainable and effective growth.
Additionally, SYMC Company has good corporate governance (CGR) assessment results for the year 2024 at the level of “Excellent” 5 stars for the 5th year in a row. For the annual general meeting (AGM), the company received a perfect score of 100 and 5 coin for 4 years consecutive, which reflects the company’s good governance and management standards. This will be the foundation for long-term sustainable growth.
“We remain focused on investing in strategic infrastructure and technology while maintaining strict cost discipline to drive sustainable growth and create value for our stakeholders,” Mr. Alex Loh concluded.
