AIS reported first-quarter Mobile revenue of THB 30.33 billion, down 1.1 percent year-on-year and 4.5 percent quarter-on-quarter, due to a decline of 6.9 percent in prepay revenue year-on-year, as price competition continued coupled with a significant drop in traveler SIM following COVID-19 crisis. However, postpaid revenue grew 8.7 percent year-on-year, as the operator’s postpaid subscriber base continued to increase.
Fixed broadband revenue was THB 1.64 billion, up 27 percent year-on-year and 3.9 percent quarter-on-quarter. Growth slowed down in the first quarter with 53,000 net adds, compared to an average of 77,00 net adds per quarter in 2019.
AIS’ revenue from interconnection charge (IC) and its partnership with TOT reached THB 3.29 billion, up 9.9 percent year-on-year, resulting from the new tower agreement with TOT in the third quarter of 2019. SIM & Device sales amounted to THB 6.46 billion, down 11 percent year-on-year and nearly 40 percent quarter-on-quarter, due to distribution channel lockdown and high seasonal sales of the new iPhone11 in the previous quarter.
In the first quarter, AIS’ EBITDA amounted to THB 19.57 billion, up 3.8 percent year-on-year, and 1.1 percent quarter-on-quarter, resulting in reported EBITDA margin of 45.7 percent in the first three months of 2020. Net profit reached THB 7 billion, down 7.5 percent year-on-year and 0.9 percent sequentially, mainly due to higher D&A and unrealized FX loss.
AIS ended March with operating cash flow of THB 23 billion. Free cash flow amounted to THB 15 billion. AIS ended March with 41.2 million mobile subscribers, following a loss of 858,000 customers in the first three months of 2020. The prepay segment posted a loss of 891,000 users, mainly from tourist segment as impacted from COVID-19. ARPU fell 4.1 percent quarter-on-quarter to THB 242 on a blended basis. AIS also had 1.09 million fixed broadband subscribers at end March, following net additions of 52,800 users in the quarter.
At end-March, AIS approved the interim dividend in replacement of the proposed annual dividend for approval at the AGM from the company's net profit as of 31 December 2019 at the same rate of THB 3.56 per share, totaling THB 10.58 billion. In order not to affect the right to receive dividend of shareholders, the record date remains unchanged for 20 February, and the payment date remains set for 22 April, the same dates previously approved by the board of directors on 6 February.
