BTS Q1/22-23 profit of 536 million baht, a decrease of 61%, joint venture with BA to manage the aviation city.

BTS reveals Q1/22-23 (end of June 20) has a profit of 536 million baht, a decrease of 61.2% due to a decrease in revenue from the construction business. and no extra profit from the sale of land While the board of green light joint venture BA established “UTB” to operate the aviation city management business in U-Tapao and the eastern region.

BTS Group Holdings Public Company Limited or BTS reported operating results for the first quarter of 65/23 (end of June 65) with a net profit of 535.98 million baht, a decrease of 61.2% from the same period of the year. Before net profit of 1,382.97 million baht and net profit margin (before non-recurring items) of 10.1%, decreased from 14.6% in the first quarter of 2022.

The company had total revenue of 5,282 million baht, a 44.3% decrease from the same period last year. because the electric train project is in the final stage of development As a result, the revenue from contractor services decreased by 4,423 million baht, while the revenue from services and sales was at 2,802 million baht, an increase of 27%. Same period last year with profit from land sales of 481 million baht.

However, the drop in revenue was partially offset by revenue from the MIX business, which was mainly driven by the full-quarter merger of Fanslink Communications Ltd. (Fanslink) and increased revenue. up from the payment business

The company had total expenses of 3,674 million baht, a 47.4% decrease from the same period last year. consistent with lower income

There was a recurring EBITDA of 1,887 million baht, a decrease of 18.4% from the same period last year. This was mainly due to weaker earnings from the MATCH business, but was partially offset by changes in share losses from investments in associates and joint ventures. Become a share of profit from investment of 213 million baht.

As for the business trend, under the MOVE business, the number of ridership trips has begun to recover, with the average number of business trips in June 65 reaching 451,000 trips per day, or 61% from the normal level in the pre-birth period. The coronavirus pandemic has 753,000 trips per day, so expect to see a recovery in the number of train trips. (with increased profit sharing from BTSGIF) to the period before the epidemic at the end of the year ’66 (base case) or sooner in April ’66

In addition, the construction of the Pink Line and the Yellow Line in July 65 has progressed more than and is expected to open full lines in the second half of the year 66

MIX business, due to the recovery of ridership, is expected to benefit the media business. It is believed that VGI’s out-of-home media business should benefit from the fact that the advertising media is located in the central business district. The distribution business is expected to expand significantly.

In terms of business, MATCH expects that the financial services and insurance businesses under U City will generate good returns for the company, which U City expects to receive a high return on investment. increased from the rising trend of interest rates

In addition, the Board of Directors meeting Approved joint venture with Bangkok Airways Public Company Limited or BA and other shareholders. Established “UTB Company Limited” with an initial registered capital of 10 million baht. The company will hold shares of not less than 55% but not more than 75% in order to operate the aviation city management business in the U-Tapao International Airport and Muang Karn Project. fly east