True Corporation reports the results for the fourth quarter of 2023 and the full year of 2023. In the fourth quarter of 2023, total revenue from new services amounted to 52.348 billion Baht, marking a 4.4% increase compared to the same quarter last year. This growth was driven by increased revenue from services and sales, offset by the company’s net loss of 11.279 billion Baht.
The True Group stated that in 2023, the company experienced consistent revenue growth, fueled by an increase in tourists and foreign labor, particularly in the fourth quarter. This positive trajectory was also aided by the decrease in electricity rates.
The number of mobile phone users increased by 0.5 million, totaling 51.886 million users. The average revenue per user (ARPU) also rose to 420 Baht per month.
The online business saw a user base of 3.778 million, with an average revenue per user of 494 Baht per month. However, the television business reported a decrease in revenue of 1.418 billion Baht due to seasonal factors and the high revenue from concerts in the previous quarter.
Looking ahead to 2024, True Corporation anticipates a 3-4% growth in service revenue and plans to invest around 30 billion Baht this year. The company expects to benefit from operational efficiency improvements and consolidation efforts.
TLDR: True Corporation reported positive revenue growth in 2023, with an increase in mobile phone users and ARPU. The company is optimistic about future growth prospects and aims to enhance operational efficiency in the coming year.
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