Intouch Holdings Public Company (INTUCH) Q3 2024 earnings summary

Executive summary

• INTOUCH Group reported strong growth in 3Q24 and 9M24, with net profits of 3,459 million baht and 10,166 million baht, respectively, driven by AIS's performance.

• The Extraordinary General Meeting approved a major restructuring, including amalgamation with Gulf Energy and acquisition of AIS and Thaicom shares, aiming for diversification and sustainable growth.

• ITV, a subsidiary, was dissolved and is under liquidation, with no significant impact on group financials.

Financial highlights

• Consolidated net profit for 9M24 was 10,166 million baht, up 15% year-over-year; 3Q24 net profit was 3,459 million baht, up 6% year-over-year.

• Total consolidated revenues for 9M24 reached 10,470 million baht, a 17% increase year-over-year.

• SG&A expenses rose 164% year-over-year in 9M24, mainly due to restructuring costs.

• Cash and cash equivalents decreased by 903 million baht from end-2023, mainly due to dividend payments and ITV capital reduction.

• Dividend payments totaled 11,864 million baht in 9M24.

Outlook and guidance

• The restructuring transaction with Gulf Energy and the acquisition of AIS and Thaicom are expected to complete in 2Q25, aiming to diversify income streams and support long-term growth.

• INTOUCH maintains a dividend policy of 100% pass-through from associates and subsidiaries, barring extraordinary circumstances.