BTS reveals loss of 5.24 billion baht in fiscal year 2023/24 (end March 2024) after recording loss of more than 4.36 billion baht from Kerry Express in 2024/25, performance expected to improve after receiving funds to support debt repayment from Bangkok 23.3 billion baht and announces a capital increase of GM by 650 million shares to shareholders on July 25.
BTS Group Holdings Public Company Limited or BTS revealed through the Stock Exchange of Thailand (SET) that its operating results for the 2023/24 financial year (ending March 2024) lost 5,241.24 million baht, down 385% from the same period in 2023 with a profit of 1,836.48 million baht. .
The loss incurred was due to the impact of one-time transaction recognition of impairment losses and the sale of investments in the Kuwait Stock Exchange, and recording the share of losses on investments in associates. (Mostly from bunny holdings coupled with increased share of losses from investments in the Kuwait Stock Exchange) and increased financial costs.
Total expenses increased by 24.7% or 4,333 million baht to 21,843 million baht, mainly due to the recording of impairment losses and the sale of one-time investments in Kerry Express (Thailand) Public Limited) or Boursa Kuwait amounting to 4,363 million baht.
Under the MIX business in 2023/24, total income of BTS Group Holdings Public Company Limited (BTS Group or the Company) amounted to 24,387 million baht, an increase of 1.0% or 248 million baht over the previous year mainly due to an increase in interest income of 1,094 million Baht and service and sales revenues increased by 726 million baht, with supporting factors from income growth from the advertising media business, recognition of fare revenues from the Yellow Line and Pink Line projects for the first time as well as increased revenues from bus operating services. and Maintenance (O&M) within the MOVE business
However, this income is also offset by the increase. The decrease in contracting services revenue of 904 million baht came mainly from the MRT Color Line project. Yellow and pink lines after opening for commercial service
As for the trend in the 2024/25 financial year, the Company will recognize revenue in accordance with the contract with both the BMA and the government sector after the BMA has paid the principal and interest due on the exploration and maintenance debt in the amount of approximately 23.3 billion baht on the date 2 April 2024 and expects The company is expected to get its operation and maintenance debts paid off soon as well. In addition to cash and liquid investments amounting to 19.4 billion baht, the repayment of E&M debt including expected operation and maintenance debt of 36.3 billion baht and government support for the Pink Line and MRT projects amounting to 4.8 billion baht per year will significantly boost BTS Group's cash flow.
As for MOVE's business income, it is expected to decrease as a result of the decrease in contract services. Due to the completion of the construction of the Pink Line and Yellow Line electric train projects. Including limited earning capacity due to the number of passenger trips on the two electric rail projects that are still in the early stages of operation. In addition, in 2024/25, the company expects to record operation and maintenance revenues of 7.3 billion baht and interest income related to the electric rail projects. In MOVE business amounting to 4.9 billion baht, income from construction business. (Pink Line Extension Project) approximately 800 million baht
As for Mix's business, revenue is expected to include EBITDA and net profit will grow significantly. Additionally, outdoor advertising and digital media businesses are expected to perform better from a stronger consumption market this year through expected income for 2017. 2024/25 in the range of 6 – 6.5 billion baht and all shares in KEX were sold on March 22, 2024 to avoid losses affecting the financials as happened In addition, the MATCH business is expected to deliver a stronger performance in 2024/25 than Rabbit Holdings and TNL.
In addition, the Company's Board of Directors decided to approve a proposal that will be submitted to the 2024 Annual General Meeting of Shareholders on Thursday, July 25, 2024, to consider and approve the plan to increase the registered capital of the Company. General authorization, in an amount not exceeding 2,600 million baht or 4.94% by issuing additional ordinary shares, in an amount not exceeding 650 million shares, with a nominal value of 4 baht per share, to be offered for sale to a limited number of persons (private placement). Which increases the flexibility of the company. If there are suitable investors
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