Earnings Report /
Thailand

Airports of Thailand PCL: Shallower loss, as expected

  • 4Q22 and FY22 core losses were in line with our estimates

  • AOT reported a 4Q22 (Jul-Sep 2022) core loss of Bt937m

  • 4Q22 revenue from sales & services was Bt6.55bn

Bualuang Securities
22 November 2022

The FY22 loss was in line with our expectation, so our FY23 forecast stands unchanged for the moment.

4Q22 and FY22 core losses were in line with our estimates

AOT reported a 4Q22 (Jul-Sep 2022) core loss of Bt937m, against core losses of Bt4.20bn for 4Q21 and Bt2.39bn for 3Q22. That brought its FY22 (Oct 2021-Sep 2022) core loss to Bt11.17bn, shallower than the core loss of Bt15.32bn marked for FY21. AOT’s result was in line with our estimate and the consensus.