Advanced Info Service Public Company (ADVANC) Q4 2025 earnings summary

Executive summary

• Achieved strong FY25 performance with resilient connectivity demand, quality-focused growth, and disciplined cost management amid economic recovery.

• Outperformed guidance on core service revenue, EBITDA, and net profit, driven by mobile, broadband, enterprise, and retail segments.

• Consolidated financial statements for the year ended December 31, 2025, were audited and received an unqualified opinion, confirming fair presentation in accordance with Thai Financial Reporting Standards.

• The group underwent a major change in shareholding, with Gulf Development Public Company Limited becoming the major shareholder after an amalgamation with Intouch Holdings.

• Maintained network leadership, expanded 5G and broadband coverage, and enhanced digital and entertainment offerings.

Financial highlights

• Core service revenue grew 6.7% YoY; total revenue up 5.9% YoY to Bt226.3bn.

• Net profit surged 37% YoY to Bt47.9bn; normalized profit up 32% YoY to Bt46.0bn.

• EBITDA increased 8.6% YoY to Bt123.3bn; EBITDA margin improved to 54.5%.

• Basic and diluted earnings per share for 2025 were Baht 16.10, up from Baht 11.79 in 2024.

• Final dividend for 2025 proposed at Baht 15.30 per share, with a special dividend of Baht 19 per share, subject to approval.

Outlook and guidance

• FY26 guidance targets 3-5% core service revenue growth and 2-4% EBITDA growth.

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

• Early-stage investments in virtual banking expected to weigh on EBITDA in 2026 but support long-term competitiveness.

• The International Business Centre status provides tax benefits for 15 years, with qualifying income taxed at concessionary rates between 3% and 8%.

• The company aims to maintain a strong capital structure and investment grade rating, supporting future growth and financial flexibility.