Advanced Info Service Public Company (ADVANC) Q1 2026 earnings summary

Executive summary

• Achieved strong 1Q26 growth driven by robust demand for connectivity, 5G adoption, and digital services amid a cautious macro outlook.

• Mobile and fixed broadband segments delivered solid revenue and subscriber expansion, while enterprise growth softened due to cautious IT spending.

• Profitability improved on quality revenue growth and disciplined cost management.

• Major shareholders remain Gulf Development Public Company Limited (40.44%) and Singtel Strategic Investments Pte Ltd. (24.76%) as of March 31, 2026.

• The company was granted International Business Centre status in January 2026.

Financial highlights

• Core service revenue rose 7.0% YoY to Bt44.8bn; total revenue up 3.4% YoY to Bt58.2bn.

• EBITDA increased 7.1% YoY to Bt32.2bn, with margin at 55.3%.

• Net profit surged 28% YoY to Bt13.5bn, driven by strong operating performance and lower network costs.

• Trade and other current receivables totaled Baht 17,606 million as of March 31, 2026, with net trade receivables at Baht 15,400 million after allowance for expected credit losses.

• Interest-bearing liabilities increased to Baht 220,877 million, including a new USD 1,000 million debenture issuance in March 2026.

Outlook and guidance

• FY26 guidance maintained: core service revenue growth of 3–5% and EBITDA growth of 2–4%.

• CAPEX (excluding spectrum) planned at Bt30–35bn, focusing on network quality and digital capabilities.

• In April 2026, the company entered into new long-term loan agreements totaling USD 450 million and short-term loans of THB 21,000 million for general corporate purposes and debt repayment.

• Cautious monitoring of macro conditions, supply chain risks, and consumer sentiment.