November 2, 2026 – True Corporation announced its third-quarter 2026 financial results, marking its seventh consecutive profitable quarter, supported by topline growth and disciplined financial management. Normalized service revenue increased 2.0% year-on-year, with sustained quarter-on-quarter growth despite a challenging operating environment. For the quarter, net profit after tax reached THB 6.7 billion, while EBITDA rose 5.7% year-on-year to THB 28.5 billion.
Mr. Sigve Brekke, Group Chief Executive Officer of True Corporation Public Company Limited, said, “In 3Q26, we achieved all-time highs in service revenue, EBITDA, and Net Profit, reflecting strong execution and operational discipline. Growth in service revenue across our mobile and online businesses was supplemented by our AI-orchestrated customer value management system, which delivers the right offers to customers through the right channels at the right time. We are beginning to see tangible business value and improved customer experiences from our intensive AI transformation. In the period to come, we will accelerate our focus on building a solid AI fundament and AI-empowered growth and productivity. Alongside revenue growth, customer satisfaction also improved significantly year on year across all segments. Building on this momentum, we remain on track to meet our 2026 financial commitments and mid-term targets.”
Mobile subscribers increased by 142,000 quarter-on-quarter to 48.8 million, including 20.5 million 5G subscribers. Online subscribers grew by 30,000 quarter-on-quarter reaching 3.3 million at the end of the quarter.
Mr. Nakul Sehgal, Chief Financial Officer of True Corporation Public Company Limited, said, “Our third quarter performance reflects continued improvement in the quality of our earnings, supported by steady growth in core revenue and continued discipline in cost management. Normalized service revenue grew 2.0% year-on-year reaching its all-time high since amalgamation, driven by growth in mobile and online business segments. Boosted by topline rebound and well-controlled operational costs, EBITDA increased 5.7% year-on-year. True Corporation recorded a record high net profit of THB 6.7 billion during the third quarter. Normalized for extraordinary one-time items during the quarter, net profit reached THB 7.0 billion. Together, these results strengthen our financial position and reinforce our ability to deliver sustainable value to shareholders. The Board of Directors has approved an interim dividend of THB 5.5 billion, representing a payout ratio of 83% and THB 0.16 Dividend Per Share (DPS).”
Key Financial Indicators for Q326
- Service revenue excluding IC: THB 41.6 billion increasing 0.9% year-on-year driven by growth in mobile and online business segments, partially offset by decline in PayTV and 0.6% quarter-on-quarter driven by growth in mobile and online business segments. Adjusted for lower domestic roaming revenue and seasonal PayTV revenues, service revenue increased 2.1% year-on-year and 0.7% quarter-on-quarter.
- EBITDA: THB 28.5 billion in Q326, increasing by 5.7% year-on-year driven by topline growth, benefit from spectrum acquisition & operational efficiencies. EBITDA improved6% quarter-on-quarter. EBITDA margin (to service revenue) improved by 3.1 percentage points year‑on‑year, reaching 68.4% for Q326. Since the completion of its amalgamation, True Corporation has achieved an EBITDA improvement of THB 9.0 billion, or a 46% growth.
- Leverage: 3.6x at the end of Q3 2026, reflecting a reduction of 0.5x from the prior year and 0.1x from the previous quarter.
- Net profit After Tax (NPAT): THB 6.7 billion, increasing 324.1% or 4.2x year-on-year and 1.8% from the previous quarter.
About True Corporation
As Thailand’s leading telecom-tech company, True Corporation empowers people and businesses with connected solutions that advance society sustainably. True’s world-class voice and data services enable a lifestyle ecosystem of global entertainment, exclusive privileges, and seamless connectivity. Through our AI-augmented innovation, we contribute to a more productive, healthier, and safer world.
