True Corporation Announces Fourth Consecutive Profitable Quarter and THB 4.1 Billion Final Dividend

Brickinfo News Agency – True Corporation Public Company Limited has reported its fourth consecutive quarter of profitability for Q4 2025, recording a net profit after tax of THB 4.0 billion. Following these results, the Board of Directors has recommended a final dividend of THB 4.1 billion, or THB 0.12 per share. This brings the total full-year dividend for 2025 to THB 10.7 billion, representing a payout ratio of 116% of the reported net profit. The company’s financial performance was bolstered by a significant reduction in operating expenses and the successful integration of spectrum assets.

The company’s EBITDA for the fourth quarter reached THB 27.8 billion, a 10.3% increase year-on-year. This growth was primarily attributed to the elimination of spectrum rental costs following the expiration of an agreement with National Telecom (NT) and savings from network modernization. While total revenue saw a 10.1% decline year-on-year due to reduced network rental income, product sales experienced a 36.9% surge quarter-on-quarter, driven by the launch of the new iPhone.

Despite macroeconomic challenges, True Corporation expanded its quality subscriber base. At the end of 2025, mobile subscribers reached 47.5 million, with a net increase of approximately 578,000 in the final quarter. 5G subscribers grew to 17.1 million, while online subscribers rose to 3.3 million. The company noted that its focus has shifted toward high-quality acquisitions rather than purely rotational mass gains.

Mr. Sigve Brekke, Group Chief Executive Officer of True Corporation, stated, “We delivered strong financial performance in the final quarter of 2025 as a result of improved customer satisfaction, a strengthened quality subscriber base and a fully modernized One Network. We continue to deliver excellent digital experiences to our customers, and with our AI First Program we will take full advantage of the benefits AI offers to drive both innovation and efficiency. We enter 2026 with confidence in our full-year expectations of sustainable and progressive dividends.”

For the full year of 2025, True reported a total Net Profit After Tax of THB 9.2 billion. When adjusting for one-time non-cash items, such as asset impairments and deferred tax assets, the normalized net profit stood at THB 19.2 billion. The company’s leverage ratio also improved, dropping to 4.0x by the end of the year, reflecting strengthened financial discipline and working capital management.

Mr. Nakul Sehgal, Co-Chief Financial Officer, highlighted the company’s commitment to shareholders, saying, “The Board has recommended a final dividend of THB 4.1 billion, or THB 0.12 per share, representing a payout ratio of 104%. Along with the interim dividend for the first nine months of the year, the full year dividend amounted to THB 10.7 billion representing a payout ratio of 116%, reflecting our strong financial position and our confidence in the Company’s cash-generation capabilities. Our ongoing commitment to financial discipline continues to deliver measurable results.”