Mixed bag for broadcasters as Workpoint leads earnings
Nation Broadcasting Corporation (NBC) and Channel 3 operator BEC World Plc were hit hardest by the proliferation of TV channels and tepid advertising in the third quarter, while Workpoint Entertainment Plc was the big gainer among listed firms in the broadcasting sector.
MAI-listed NBC reported a third-quarter net loss of 598.52 million, widening from 58.25 million in the same quarter a year earlier, with a nine-month net loss of 718.17 million baht, worsening from 174.39 million a year ago.
The loss was driven by higher costs and expenses incurred by a voluntary resignation plan offered to employees and a subsidiary’s impairment loss from a digital terrestrial TV licence.
MAI-listed News Network Corporation Plc, which runs Spring News Channel, reported a third-quarter net loss of 99.356 million baht, narrowing from 125.09 million in the year-earlier quarter, with a nine-month net loss of 363.31 million baht, improving from 394.12 million last year.
SET-listed Amarin Printing and Publishing Plc, the parent firm of Amarin Television Co, reported a third-quarter net loss of 14.26 million baht, easing from 126.26 million in the same period last year. The net loss for the nine-month period also narrowed to 185.08 million baht from 468.93 million.
Amarin said third-quarter revenue rose 81.1% year-on-year to 572.69 million baht as a result of a continuous increase in income from the digital TV business of Amarin TV HD channel, which enjoyed growth in ratings.
For the first nine months, Amarin recorded revenue of 1.51 billion baht, up 21.4% year-on-year, due to increases in print (41.6%), fairs (82.8%), TV (117.5%) and digital (412.2%).
Among the gainers, SET-listed Workpoint reported a net profit of 379.97 million baht in the third quarter, up from 108.01 million a year earlier. For the first nine months, net profit rose to 926.14 million baht from 270.63 million in the same period last year.
Workpoint said third-quarter revenue totalled 1.16 billion baht, up 46% year-onyear, with all business units — TV programming, event marketing, and concerts and plays — seeing revenue increases.
SET-listed Mono Technology Plc, the parent firm of Mono Broadcasting Co, which runs the Mono29 channel, reported a third-quarter net profit of 70 million baht, up from 10.11 million in the same period last year.
The company reported a nine-month net profit of 145.46 million baht against a net loss of 56.98 million last year.
The results of SET-listed BEC World were less than impressive, with third-quarter net profit falling 86.1% to 34.80 million baht from 251.14 million.
For the first nine months, BEC’s profit fell by 69.2% to 396.48 million baht from 1.29 billion baht in the same period last year.
Total revenue of BEC Group in the third quarter was 2.75 billion, down 16.4% yearon-year from 3.29 billion. The fall was largely due to falling income from advertising, concerts and shows.
GMM Grammy Plc, the parent firm of GMM Channel Trading Co, the operator of GMM25 digital TV channel, and RS Plc, digital Channel 8’s operator, have yet to report their earnings results to the Stock Exchange of Thailand.
Sorrabhol Virameteekul, a strategist at Maybank Kim Eng Securities, said conditions for digital TV operators have improved after the regulator eased the concession payment requirements.
BEC World Plc, the operator of Channel 3, saw Q3 earnings plunge.