Bangkok, August 4, 2026 – True Corporation Public Company Limited announced its financial results for the second quarter of 2026, delivering its sixth consecutive quarter of profitability. Supported by service revenue recovery and disciplined financial management, the company reported a Net Profit After Tax of THB 6.6 billion. EBITDA grew 13.5% year-on-year to THB 28.3 billion, reflecting continuous operational improvements across all business segments despite macroeconomic headwinds.
The Board of Directors approved an interim dividend for Q2 2026 of THB 5.2 billion, representing a 79% payout ratio or THB 0.15 per share. Service revenue excluding interconnection charges (IC) rose 0.8% year-on-year to THB 41.4 billion, driven by expanding mobile and online user bases. Adjusted for lower domestic roaming revenue, service revenue grew 1.1% year-on-year.
Mr. Sigve Brekke, Group Chief Executive Officer of True Corporation Public Company Limited, said, “True Corporation delivered another strong quarter, driven by service revenue growth across all business segments, continued subscriber momentum, and improved operational efficiency. Our investments in mobile and fiber network modernization, localized and granular execution, and AI-enabled customer experiences and operations are translating into stronger customer outcomes and business performance. Looking ahead, we will strengthen AI-powered transformation across the company, through our AI Centre of Excellence, a strong data foundation and end-to-end domain reinvention to scale innovation, productivity, and sustainable growth.”
Key Performance Indicators and Subscriber Growth
During the second quarter, True Corporation expanded its mobile subscriber base by 479,000 quarter-on-quarter, bringing total mobile subscribers to 48.6 million. This growth was aided by the government’s “Thai Help Thai” stimulus program, participation in the Ministry of Education’s “Study Anywhere, Anytime” initiative, and full compliance with NBTC regulations. The company’s 5G subscriber count reached 19.3 million at the end of the quarter.
In the broadband segment, online subscribers increased by 28,000 quarter-on-quarter, backed by enhanced network reliability and service quality. Net leverage was reduced to 3.7x, down 0.3x year-on-year and 0.1x quarter-on-quarter, strengthening the company’s balance sheet. Since completing its amalgamation, True Corporation has achieved an aggregate EBITDA improvement of THB 8.9 billion, marking a 46% growth.
Mr. Nakul Sehgal, Chief Financial Officer of True Corporation Public Company Limited, said, “The second quarter marked another strong quarter of execution for True Corporation. Service revenue returned to year-on-year growth, EBITDA increased 13.5% and net profit after tax reached THB 6.6 billion marking sixth consecutive quarters of profitability. These results reflect continued financial discipline and focused execution, even as the quarter was marked by heightened macroeconomic uncertainty, geopolitical developments, and ongoing supply chain pressures.”
Full-Year 2026 Guidance
True Corporation maintains its full-year guidance for 2026, projecting service revenue excluding IC to grow by 1% to 2% year-on-year. EBITDA growth remains unchanged at 7% to 9% year-on-year, with capital expenditure (CAPEX) expected to remain between THB 25 billion and THB 27 billion.
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Service Revenue Excl. IC: +1-2% YoY
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EBITDA Growth: +7-9% YoY (Unchanged)
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CAPEX: THB 25-27 Billion (Unchanged)
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Interim Dividend: THB 0.15 Per Share (THB 5.2 Billion Total)
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