09 พฤศจิกายน 2548
Submission of F/S for the 3rd Quarter of 2005 with MD&A
November 9, 2005
To: President,
Stock Exchange of Thailand.
Re: Submission of Financial Statements for
the 3rd Quarter of 2005.
Enclosures: Financial Statements for the 3rd Quarter of 2005
and the relevant management discussion and analysis.
We are sending you herewith the enclosed financial statements
of the company and the consolidated statement of the group for the 3rd
quarter of 2005 ended September 30, 2005, which were reviewed by the
Auditor and our Audit Committee has already reviewed them, also.
BEC World group was able to made Baht206 millions as its net
profit for the third quarter of 2005, an decrease of Baht 23 millions
-10 percent lower than that of the prior quarter as the result of the
decrease of advertising income from seasonal factor. This profit is still
lower than that of the same period of last year (by 46 percent) as
same asincurred in the previous few quarters, but the gap has already
been reduced because of the improvement in our revenue generating
ability as discussed further in the attached management discussion
and analysis.
Please be informed accordingly.
Sincerely Yours,
(Chatchai Thiamtong)
Vice President - Finance
BEC World Plc.
Consolidated Financial Statements for the 3rd Quarter of 2005
Management Discussion and Analysis:
Operating Results:
BEC World group was able to made Baht206 millions as its net profit
for the third quarter of 2005, a decrease of Baht 23 millions
- 10 percent lower than that of the prior quarter as the result of
the decrease of advertising income from seasonal factor. This profit
is still lower than that of the same period of last year as same as
incurred in the previous few quarters, but the gap has already been
reduced because of the improvement in our revenue generating ability
in accordance with the improvement of Channel 3's viewership shares
which are higher every month for the last 6 months.
Revenue:
Sales Revenues: 3Q05 2Q05 QoQ3 Q04 YoY
Adverting Income 1,183 1,270 -86 6.8% 1,344 -161 -12.0%
Copyright and
Other Services 79 42 37 87.9% 39 40 101.8%
Concerts and Shows 201 402 -201 -50.0% 189 12 6.4%
Total Sales Revenues 1,463 1,714 -250 -14.6% 1,572 -109 -6.9%
For the third quarter of 2005 BEC World group had Baht1,183 millions
as advertising income lower than that of the prior quarter by 7 percent
because of the seasonal factor. This is still 12 percent lower than
that of the same period of last year as the results of lower
utilization rates achieved during the quarter, especially during the
primetime, as a consequence of the softness in overall ad-spending
caused by deteriorating general economic conditions. However, the gap
has already been reduced because of the improvement in our revenue
generating ability in accordance with the improvement of Channel 3's
viewership shares which are higher every month for the last 6 months.
The revenue from "concerts and shows" is much lower from the previous
quarter as ThemeStar had reduced its activities during the quarter.
Costs and Operating Expenses:
Costs of TV business even are still much higher when compares with
the same period of last year as expansion of primetime and an
increase of local dramas were happened in the second half of last
year and an increase of the required space of our new broadcasting
center which had started at the beginning of this year, but have been
stabilized when compares with prior period except the increase of the
depreciation and amortization of the investment which partly started
during the quarter. The decreased Costs of other services is in line
with the increase of revenue especially those of the shows organized
outside of Thailand by ThemeStar the new subsidiary of BEC-TERO.
The SG&A are also stabilized when compares with the previous quarter
and the same period of last year as the transition is now over.
Financial positions:
Our assets and liabilities, in general, are about the same as the
balance at the end the prior year, except the deduction of cash
and cash equivalent as a result of dividend and corporate income
tax payments made during the year, but our "fixed assets" and our
"right to use property" had increased from our investment for the
future benefits.