Thailand’s first satellite operator, announced financial results for the full-year ended December 31, 2018.

The Company’s consolidated revenue from sales of goods and rendering of services for 2018 was Baht 6,008 million, a decrease of 10.2% from Baht 6,689 million for 2017—mainly due to the worldwide industry downtrend and price decline, as well as the churn of customers during 2017.

The Company reported a consolidated net profit of Baht 230 million, taking into account impairment, and improving on last year’s net loss of Baht 2,650 million due to the recognition of gain from sales of shares of CS Loxinfo Public Company Limited (CSL), a decrease in depreciation and amortization after the recognition of satellite assets impairment in 2017, and an improved cost management.

Lao Telecommunications Co., Ltd. (LTC), Thaicom’s telecommunication and mobile service provider subsidiary in Lao PDR, reported total mobile subscribers (excluding fixed wireless) of 1,488,196. In January 2018, the country’s market leader entered into a sale and purchase agreement to acquire 500,000 shares or 100% of Vimpelcom Company Limited—one of the mobile operators under the brand name “BEELINE”—from the government of Lao PDR.

This acquisition will significantly help to expand its market and target the country’s young consumers, as well as enhance LTC’s network efficiency. Lao Telecommunications currently holds 56.1% market share in the mobile business.