Daily BriefsThailand

Thailand: Total Access Communication and more

In today’s briefing:

  • DTAC : Lower Costs Will Improve Earnings in 2Q22

DTAC : Lower Costs Will Improve Earnings in 2Q22

By Pi Research

  • We maintain our HOLD rating and TP of Bt47.60 based on DTAC’s tender offer price. We believe the company will benefit from seasonal low costs despite weak sales performance. 
  • Expect QoQ improvement in 2Q22 net profit : We expect 2Q22 net profit to be at Bt854m (-44% YoY, +18% QoQ) as a result of seasonal low costs. 
  • We expect 2Q22 revenue at Bt19bn (flat YoY, -4% QoQ). Top-line performance continues to struggle YoY and QoQ due to weak economic activity.

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