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Communications

Total Access Communication Public Co., Ltd.

Company Background

Total Access Communication is Thailand's second-largest mobile service provider with a market share of approximately 30%, operating under the "Dtac" brand. The company was founded by Thai tycoon Boonchai Bencharongkul in 1989 but has become a local arm of Norway's state-owned telecom giant Telenor.

Through its Singapore-based subsidiary, Telenor holds a direct shareholding of over 40%. Boonchai is the company chairman, but the Bencharongkul family, ranked as Thailand's 17th richest by Forbes, is now a minor shareholder. Operations are managed by executives from Telenor. In September 2014, Jon Eddy Abdullah, who had been Dtac's CEO since 2011 and Telenor Pakistan's CEO before that, suddenly stepped down. Vice Chairman Sigve Brekke, who also heads Telenor's Asia operations, is serving as interim CEO until a replacement is appointed. Brekke was Dtac's CEO from 2005 to 2008. Prior to joining Telenor in 1999, he served as Norway's deputy minister (state secretary) of defense from 1993 to 1996.

Dtac listed on the Singapore Stock Exchange in 1995 and on the Stock Exchange of Thailand in 2007. It became the first dual listing company in Thailand but delisted from Singapore in September 2014, citing thin trading.

Business Summary

Total Access Communication Public Co., Ltd. engages in the provision of wireless telecommunication services. Its products include prepaid and postpaid packages, aircards, handsets, and accessories. It operates through the Mobile telephone service and related services; and Sales of handsets and starter kits segments. The company was founded in August 1989 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2019 THBUSD
Revenue71,961.30M2,317.98M
Gross Profit15,217.84M490.18M
Operating income9,691.76M312.18M
Income before tax6,399.50M206.13M
Net income5,421.89M174.64M
EBITDA29,688.45M956.31M
Diluted EPS2.280.07
Dividends Per Share2.870.09
Total Assets167,519.20M5,592.59M
Total liabilities142,552.79M4,759.09M
Total equity24,966.41M833.49M
Operating cash flow17,602.75M567.01M
Currency in THBCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 87,269.49M 81,433.19M 77,456.48M 73,093.67M 71,961.30M
Gross Profit 23,828.04M 19,689.54M 17,210.86M 15,149.33M 15,217.84M
Operating income 8,339.87M 3,835.70M 3,437.46M -4,698.47M 9,691.76M
Income before tax 7,441.04M 2,581.52M 2,339.78M -5,787.07M 6,399.50M
Net income 5,893.11M 2,085.83M 2,114.97M -4,368.69M 5,421.89M
EBITDA 27,113.46M 26,972.78M 29,935.72M 20,362.97M 29,688.45M
Diluted EPS 2.49 0.88 0.89 -1.84 2.28
Dividends Per Share 2.93 0.42 0.24 1.01 2.87
Total Assets 110,965.41M 115,378.97M 114,500.58M 151,005.76M 167,519.20M
Total liabilities 83,741.83M 88,233.78M 85,265.67M 129,076.08M 142,552.79M
Total equity 27,221.45M 27,144.44M 29,234.29M 21,929.05M 24,966.41M
Operating cash flow 24,775.83M 26,631.24M 27,335.05M 18,256.03M 17,602.75M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 2,546.33M 2,308.15M 2,282.59M 2,261.05M 2,317.98M
Gross Profit 695.24M 558.08M 507.19M 468.62M 490.18M
Operating income 243.33M 108.71M 101.30M -145.34M 312.18M
Income before tax 217.11M 73.17M 68.95M -179.01M 206.13M
Net income 171.94M 59.12M 62.32M -135.13M 174.64M
EBITDA 791.11M 764.52M 882.18M 629.90M 956.31M
Diluted EPS 0.07 0.02 0.02 -0.05 0.07
Dividends Per Share 0.08 0.01 0.00 0.03 0.09
Total Assets 3,083.65M 3,221.93M 3,513.36M 4,637.76M 5,592.59M
Total liabilities 2,327.13M 2,463.90M 2,616.31M 3,964.25M 4,759.09M
Total equity 756.46M 758.00M 897.03M 673.49M 833.49M
Operating cash flow 722.90M 754.84M 805.54M 564.72M 567.01M

Valuation Measures

Dec 2019
PER23.25
ROA3.40%
ROE23.12%
Operating margin13.46%
Profit margin7.53%

Key executives

  • Chief Executive Officer: Sharad Mehrotra
  • Chief Financial Officer: Dilip Pal
  • Chief Technology Officer: Prathet Tankuranun
  • Chief Digital Officer: Andrew Tor Oddvar Kvaalseth
  • Chief Business Officer: Rajiv Bawa

Shareholders

  • Telenor ASA (42.6%)
  • Thai Telco Holdings Co Ltd. (22.4%)
  • Government of Thailand (5.5%)
  • Norges Bank Investment Management (2.4%)
  • Social Security Office of Thailand (2.3%)
  • The Vanguard Group, Inc. (0.9%)
  • Krungsri Asset Management Co., Ltd. (0.8%)
  • Dimensional Fund Advisors LP (0.5%)
  • CHUTICHETPONG VERAVAT (0.5%)
  • BTS Group Holdings Public Co. Ltd. (0.4%)

Contact Details

  • Website:http://www.dtac.co.th
  • Address: 319 Phayathai Road, 24-41 Fl., Chamchuri Square Building, Bangkok, 10330, Thailand
  • Phone: +66.2.202.8000

Related Companies

  • DTAC Broadband Co. Ltd.
  • DTAC Internet Service Co. Ltd.
  • DTAC Network Co. Ltd.
  • WorldPage Co. Ltd.
  • TAC Finance Co. BV
  • United Communication Industry Public Co. Ltd.

Competitors

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