Thaicom improves core profits in 2025
February 10, 2026
Thaicom, the Asian satellite operator and SpaceTech company, has announced its Full Year financial results for 2025.
In 2025, the company generated a core profit of Baht 401 million (€10.8m), representing a significant increase of Baht 291 million, or 268 per cent, from Baht 109 million in the prior year. This improvement was primarily attributed to higher revenue, alongside efficient cost and expense management. Focusing solely on the satellite business, the company generated Baht 432 million in core profit excluding non-satellite businesses and the share of loss from the telecommunications business, which exceeded the normal core profit by Baht 31 million.
For 2025, the company reported net profit attributable to the owner of the Company of Baht 40 million, representing a turnaround from a net loss of Baht 23 million in 2024. The company was able to sustain its profitability despite foreign exchange volatility as the Baht appreciated, resulting in an unrealised loss on exchange rate, which is a non-cash item and does not reflect the company’s core operating performance.
In 2025, total revenue from sales of goods and rendering of services, construction services, and other income amounted to Baht 2,737 million. This represents a substantial increase of Baht 316 million, or 13 per cent, from Baht 2,420 million in 2024. The increase was primarily driven by revenue from services rendered to a counterparty of Baht 317 million. In addition, the company successfully secured a contract with GISTDA to provide antenna and ground systems for receiving signals and controlling the THEOS satellite constellation under the antenna system procurement project, recognising revenue of Baht 153 million during 2025 based on project progress.
In 2025, the company strengthened its position in India through partnerships with Hughes Communications India Private and Nelco. The services enhanced broadband connectivity across critical sectors, including financial services, renewable energy, mining, remote education, as well as aviation and maritime communications.
Furthermore, the company successfully expanded its Geospatial Intelligence business, which represents a growth area with positive long-term potential. Progress was reflected through revenue from multiple projects in collaboration with both public and private agencies.
Regarding the telephone business abroad, the company’s share of loss from investment in the joint venture in 2025 remained comparable to 2024, despite a significant increase in revenue and net profit of the Lao Telecommunications Public Company.
Other posts by :
- TerreStar wants to build LEO network
- Musk: “No Starlink phone”
- Russia accused of eavesdropping on satellites
- FCC welcomes Musk’s 1m satellite plan
- Telesat has problems with an LEO
- Orbital debris a real danger
- India boosts space budget
- Blue Origin drops passenger flights
- Bank: “Charter racing to the bottom”