True Corporation reported its sixth consecutive quarter of profitability in the second quarter of 2026, driven by service revenue recovery and disciplined financial management. The company achieved a net profit after tax of THB 6.6 billion and an EBITDA of THB 28.3 billion, up 13.5% year-on-year, despite macroeconomic headwinds. Operational performance remained positive across all business segments.
Sigve Brekke, Group Chief Executive Officer of True Corporation Public Company Limited, attributed the strong quarter to growth in service revenue across segments, continued subscriber momentum, and improved operational efficiency. He highlighted investments in mobile and fiber network modernization, localized execution, and AI-enabled customer experiences and operations. Looking forward, the company will focus on AI-powered transformation through its AI Centre of Excellence, a strong data foundation, and end-to-end domain reinvention to scale innovation, productivity, and sustainable growth.
Mobile subscribers increased by 479,000 from the previous quarter, supported by the “Thai Help Thai” government stimulus program, participation in the Ministry of Education’s “Study Anywhere, Anytime” initiative, and NBTC regulation compliance, bringing total mobile subscribers to 48.6 million. Online subscribers grew by 28,000, while 5G subscribers reached 19.3 million.
Nakul Sehgal, Chief Financial Officer of True Corporation Public Company Limited, noted that service revenue returned to year-on-year growth and EBITDA rose 13.5%. The results, including the THB 6.6 billion net profit, reflect continued financial discipline and focused execution, even amid heightened macroeconomic uncertainty, geopolitical developments, and supply chain pressures. 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.
For the second quarter of 2026, key financial indicators show service revenue excluding interconnection charges (IC) at THB 41.4 billion, up 0.8% year-on-year and 0.8% quarter-on-quarter. EBITDA reached THB 28.3 billion, increasing 13.5% year-on-year and 1.1% quarter-on-quarter, with an EBITDA margin of 68.5%. The net profit after tax of THB 6.6 billion represents a 3.2x increase year-on-year, remaining flat compared to the previous quarter. The company’s revised 2026 guidance forecasts service revenue excluding IC to grow 1-2%, EBITDA to grow 7-9% (unchanged), and capital expenditure to remain at THB 25-27 billion (unchanged).
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