MACO reported the first quarter of 2021/22, with success from both domestic and international business negotiations. As a result, the operating performance began to recover compared to the same period last year. With total revenue of 603 million baht, growing 17.9% and turning back to record a net profit of 94 million baht.
Mr. Phun Chong Kit, Chief Executive Officer of Master Ad Public Company Limited or MACO, one of the leaders in outdoor advertising media with a variety of both static and digital advertising media covering all areas of Thailand and the ASEAN region, said, “Overview of the results MACO’s operations amid economic pressure from the uncertainty of the COVID-19 epidemic situation
This quarter, it was satisfactory that it was able to produce results in negotiating trade terms both domestically and internationally in a positive direction. Consequently, in the first quarter of 2021, the Company had a positive performance year on year, divided into revenue from advertising business of 201 million baht, an increase of 39.3% YoY, representing 33.3% of total revenue. which came from domestic advertising business revenue of 170 million baht, an increase of 75.5% YoY as a result of the recognition of quarterly minimum compensation from Plan B Media Public Company Limited.
and foreign advertising business revenue of 30 million baht, a decrease of 35.7% YoY from the COVID-19 crisis. Revenue from integrated systems increased 9.5% YoY, representing 66.7% of total revenue or 402 million baht from Know the increased revenue of project management. Including in this quarter, the company Cost of sales decreased from the termination of the airport media concession contract in Malaysia by 437 million baht or 3.6% YoY, which was the main factor driving the gross profit margin to 27.6% from 11.4% YoY and revenue. Others are at 200 million baht.
From the reversal of the airport concession fee in Malaysia of 188 million baht, which the aforementioned non-recurring income is the result of successful negotiations with the Malaysian airport authorities to request a reduction in the concession fee for the year 2020/21. For the direction of operation and important developments of the VGI group, MACO (Singapore) Private Limited and Trans.Ad Solution Co., Ltd. have successfully invested in Vietnam. From this success, MACO will be able to follow the strategy with full strength.
Both in the advertising business and the integrated system work through operations by VGI Vietnam Joint Stock Company and Transad Vietnam Joint Stock Company, and in addition to strengthening the company It has grown vigorously in Vietnam’s advertising industry, which is also an important path towards becoming the leader of out-of-home (OOH) advertising media in Vietnam as well.
Even around the world starting to get vaccinated against COVID-19 But the epidemic crisis continues to escalate. create uncertainty in every region especially in ASEAN which is our main market. for sustainable growth and create the greatest benefits for the shareholders of the Company such as the successful overseas business negotiations as mentioned above. In addition, the joint agreement between the Company and Plan B Media Public Company Limited for the full year’s advance payment of minimum remuneration This has been shown to be a positive deal for the Company’s domestic performance. During this recession
For financial stability, the Company operates under cost management and continually builds business liquidity for maximum efficiency. To strengthen cash flow and increase profitability to be ready to deal with the ongoing COVID-19 pandemic. Finally, we learned a valuable lesson from the crisis. with the ability to manage in the midst of this disruption of operations We believe that we can lead the company through this difficult situation. and grow back stronger once the market returns to normal.
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