True Corporation Reports First Quarter 2025 Results with Fifth Consecutive Quarter of Profitability
True Corporation reported its fifth consecutive quarter of profitability in Q1 2025, with net profit of 6.6 billion baht and EBITDA up 10.9% year-over-year, driven by subscriber growth and network modernization.
May 7, 2025 – True Corporation announced its first quarter 2025 financial results, maintaining consistent profitability driven by continuous growth in service subscribers, improved customer experience through network modernization initiatives, and disciplined cost management. The company posted a net profit of 6.6 billion baht with EBITDA reaching 28 billion baht, up 10.9% year-over-year, supported by frequency spectrum licensing gains. Despite macroeconomic headwinds, True Corporation sustained positive performance across its core mobile and online businesses.
Sigve Brekke, Group Chief Executive Officer of True Corporation Public Company Limited, stated: "Performance from all our business segments in the first quarter of 2025 showed strong growth. The key highlight isn't just outstanding financial results, but also record-high customer satisfaction levels. We continue to monitor increasing macroeconomic pressures while advancing toward our financial targets. Continuous network modernization, coupled with business and organizational restructuring, represent key strengths that differentiate us and enhance customer experience, operational efficiency, and long-term competitive advantage for our stakeholders."
Operational Highlights for Q1 2025 Mobile phone subscribers increased by 614,000 lines compared to the previous quarter, reflecting improved churn management and active retention measures. Participation in the Ministry of Education's "Study Anywhere Anytime" program contributed to total mobile subscribers reaching 48.1 million lines. Home internet users grew by 36,000, marking the highest growth since the merger, driven by network stability and improved service quality. Continuous network improvements reduced online business network downtime and boosted customer Net Promoter Scores. Increased adoption of digital self-service channels reduced call center contact volume, improving both customer experience and operational efficiency. 5G subscribers reached 18.4 million by quarter-end.
Nakul Sehgal, Chief Financial Officer of True Corporation Public Company Limited, commented: "First quarter results reflect the financial discipline we've maintained since the merger. While PayTV subscription revenue faced some headwinds, mobile and online businesses remained strong through subscriber growth and network investments alongside customer experience improvements. Operating expenses declined significantly year-over-year through frequency spectrum licensing benefits, merger synergies realization, and rigorous cost control, driving EBITDA growth."
