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Airports of Thailand Public Co. Ltd.

Company Background

Airports of Thailand, a state-owned airport operator, is 70% controlled by the finance ministry. The company was established in 2002 when the Airports Authority of Thailand was privatized.

 

It operates six major airports in Thailand. Suvarnabhumi Airport, the new international airport that opened in Bangkok in 2006, just after a coup that toppled the Thaksin Shinawatra government, is run by the company. The airport was seized by anti-government protestors in 2008 and forced to shut down for a week.

 

Don Mueang International Airport, which opened in 1914, was replaced by Suvarnabhumi, but is now a budget airline hub. Other airports include those at popular tourist destinations such as Phuket and Chiang Mai.

 

The chairman post at Airports of Thailand is filled by air force officials. Current Chairman Araya Ngampramuan is an Air Chief Marshal. He was named to replace Sita Divari, a squadron leader who was picked by ousted Prime Minister Yingluck Shinawatra, and resigned after the military coup in May 2014. The president's post is currently vacant. Former President Makin Petplai stepped down from his post in September without citing reasons. The company has invited members of the public to apply for the role.

 

Business Summary

Airports of Thailand Public Co. Ltd. engages in the operation of airport and hotel. It operates through the Airport Business and Hotel Business segments. It also manages Suvarnabhumi Airport (BKK), Don Mueang Airport (DMK), Chiang Mai (CNX), Hat Yai (HDY), Phuket (HKT), and Mae Fah Luang - Chiang Rai. The company was founded on December 17, 1903 and is headquartered in Bangkok, Thailand.

Financial Highlights

Sep 2020 THBUSD
Revenue31,179.09M998.90M
Gross Profit7,738.64M247.92M
Operating income5,133.07M164.45M
Income before tax5,336.57M170.97M
Net income4,320.67M138.42M
EBITDA10,574.32M338.77M
Diluted EPS0.300.00
Dividends Per Share0.190.00
Total Assets173,558.57M5,477.19M
Total liabilities30,526.90M963.37M
Total equity142,235.57M4,488.69M
Operating cash flow-325.74M-10.43M
Currency in THBCurrency in USD

Historical Data

 Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020
Revenue 50,961.95M 54,901.16M 60,537.40M 62,783.41M 31,179.09M
Gross Profit 26,513.08M 28,263.90M 33,305.42M 32,985.86M 7,738.64M
Operating income 24,038.26M 25,786.90M 30,710.54M 30,201.29M 5,133.07M
Income before tax 24,171.34M 26,184.97M 31,127.36M 31,484.31M 5,336.57M
Net income 19,318.31M 20,683.60M 25,170.76M 25,026.36M 4,320.67M
EBITDA 30,442.31M 31,431.40M 36,352.21M 36,052.76M 10,574.32M
Diluted EPS 1.35 1.45 1.76 1.75 0.30
Dividends Per Share 0.68 0.86 1.05 1.05 0.19
Total Assets 173,130.82M 179,346.74M 187,708.55M 198,381.55M 173,558.57M
Total liabilities 52,816.60M 47,658.05M 43,439.43M 43,842.92M 30,526.90M
Total equity 120,057.54M 131,376.25M 143,902.78M 153,899.11M 142,235.57M
Operating cash flow 28,945.25M 25,930.41M 32,849.22M 32,128.85M -325.74M
 Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020
Revenue 1,439.92M 1,589.26M 1,871.05M 1,981.31M 998.90M
Gross Profit 749.12M 818.17M 1,029.38M 1,040.96M 247.92M
Operating income 679.20M 746.47M 949.18M 953.09M 164.45M
Income before tax 682.96M 757.99M 962.06M 993.58M 170.97M
Net income 545.83M 598.74M 777.96M 789.78M 138.42M
EBITDA 860.14M 909.86M 1,123.55M 1,137.75M 338.77M
Diluted EPS 0.03 0.04 0.05 0.05 0.00
Dividends Per Share 0.01 0.02 0.03 0.03 0.00
Total Assets 4,996.56M 5,377.71M 5,804.22M 6,486.23M 5,477.19M
Total liabilities 1,524.28M 1,429.02M 1,343.21M 1,433.47M 963.37M
Total equity 3,464.86M 3,939.31M 4,449.68M 5,031.84M 4,488.69M
Operating cash flow 817.84M 750.62M 1,015.28M 1,013.92M -10.43M

Valuation Measures

Sep 2020
PER186.83
ROA2.32%
ROE2.91%
Operating margin16.46%
Profit margin13.85%

Key executives

  • President & Director: Nitinai Sirismatthakarn
  • Chief Financial Officer & Senior EVP-Accounting: Somboon Noinamkham
  • EVP-Information and Communication Technology Group: Kittipoj Venunandana
  • Senior Executive VP-HR & Administration: Chadanisa Chumnanvej
  • Senior Executive Vice President-Corporate Strategy: Sasisubha Sukontasap

Shareholders

  • Government of Thailand (70.0%)
  • Social Security Office of Thailand (1.1%)
  • Norges Bank Investment Management (0.5%)
  • TMB Asset Management Co., Ltd. (0.4%)
  • Krung Thai Asset Management Public Co., Ltd. (0.3%)
  • MFC Asset Management Public Co., Ltd. (Investment Management) (0.3%)
  • Sands Capital Management LLC (0.3%)
  • Handelsbanken Fonder AB (0.1%)
  • US Global Investors, Inc. (Asset Management) (0.0%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.0%)

Contact Details

Related Companies

  • Airport Duty Free Co. Ltd.
  • Don Mueang International Airport Hotel Co. Ltd.
  • Suvarnabhumi Airport Hotel Co. Ltd.

Competitors

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