Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 06 May 2026. Payment date: 27 May 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (3.5%). Declared Dividend • Mar 17
Dividend of ฿0.10 announced Dividend of ฿0.10 is the same as last year. Ex-date: 6th May 2026 Payment date: 27th May 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • Mar 14
Matichon Public Company Limited Proposes Annual Dividend, Payable on May 27, 2026 Matichon Public Company Limited proposed annual dividend of THB 0.1000 per share payable on May 27, 2026, ex-date on May 06, 2026 and record date on May 07, 2026. Announcement • Mar 13
Matichon Public Company Limited, Annual General Meeting, Apr 28, 2026 Matichon Public Company Limited, Annual General Meeting, Apr 28, 2026, at 09:30 SE Asia Standard Time. Location: conference room on the 9th floor, of the matichon public company limited, 12 tethsabannaruemarn road, prachanivate 1 ladyao chatuchak bangkok 10900., bangkok Thailand New Risk • Mar 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). Earnings have declined by 61% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿685.8m market cap, or US$21.5m). Reported Earnings • Mar 01
Full year 2025 earnings released: ฿0.59 loss per share (vs ฿0.18 loss in FY 2024) Full year 2025 results: ฿0.59 loss per share (further deteriorated from ฿0.18 loss in FY 2024). Revenue: ฿464.2m (down 21% from FY 2024). Net loss: ฿109.8m (loss widened 229% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 16
Third quarter 2025 earnings released: ฿0.09 loss per share (vs ฿0.077 loss in 3Q 2024) Third quarter 2025 results: ฿0.09 loss per share (further deteriorated from ฿0.077 loss in 3Q 2024). Revenue: ฿115.1m (down 16% from 3Q 2024). Net loss: ฿16.7m (loss widened 17% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. New Risk • Aug 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 32% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (฿741.4m market cap, or US$22.9m). Reported Earnings • Aug 15
Second quarter 2025 earnings released: ฿9.00 loss per share (vs ฿0.079 profit in 2Q 2024) Second quarter 2025 results: ฿9.00 loss per share (down from ฿0.079 profit in 2Q 2024). Revenue: ฿118.6m (down 34% from 2Q 2024). Net loss: ฿16.5m (down 212% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
First quarter 2025 earnings released: ฿0.18 loss per share (vs ฿0.042 profit in 1Q 2024) First quarter 2025 results: ฿0.18 loss per share (down from ฿0.042 profit in 1Q 2024). Revenue: ฿101.3m (down 41% from 1Q 2024). Net loss: ฿32.5m (down ฿40.3m from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 01
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 07 May 2025. Payment date: 22 May 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (3.2%). Declared Dividend • Apr 17
Dividend reduced to ฿0.10 Dividend of ฿0.10 is 60% lower than last year. Ex-date: 7th May 2025 Payment date: 23rd May 2025 Dividend yield will be 2.4%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 60x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 6,585% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Board Change • Apr 17
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 3 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Director Sutep Dechrugsa was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 02
Full year 2024 earnings released: ฿0.18 loss per share (vs ฿0.17 profit in FY 2023) Full year 2024 results: ฿0.18 loss per share (down from ฿0.17 profit in FY 2023). Revenue: ฿590.4m (down 16% from FY 2023). Net loss: ฿33.4m (down 209% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Feb 06
Matichon Public Company Limited Announces Demise of Mr. Paitoon Netipoh Director, Independent Director, Chairman of Audit Committee Matichon Public Company Limited informed that Mr. Paitoon Netipoh director, Independent director, Chairman of Audit Committee has passed away on February 3, 2025. New Risk • Dec 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). Dividend is not well covered by earnings and cash flows. Dividend per share is over 60x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (฿1.08b market cap, or US$31.2m). New Risk • Nov 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 331% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 65x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (฿1.23b market cap, or US$35.7m). New Risk • Nov 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 154% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (4.4% net profit margin). Market cap is less than US$100m (฿1.33b market cap, or US$38.5m). Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.058 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.08 (up from ฿0.058 in 2Q 2023). Revenue: ฿180.1m (down 6.6% from 2Q 2023). Net income: ฿14.7m (up 37% from 2Q 2023). Profit margin: 8.2% (up from 5.6% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿7.20, the stock trades at a trailing P/E ratio of 51x. Average trailing P/E is 25x in the Media industry in Thailand. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿7.90, the stock trades at a trailing P/E ratio of 56x. Average trailing P/E is 25x in the Media industry in Thailand. Total returns to shareholders of 32% over the past three years. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.04 (vs ฿0.066 in 1Q 2023) First quarter 2024 results: EPS: ฿0.04 (down from ฿0.066 in 1Q 2023). Revenue: ฿171.5m (flat on 1Q 2023). Net income: ฿7.84m (down 36% from 1Q 2023). Profit margin: 4.6% (down from 7.1% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.25 per share Eligible shareholders must have bought the stock before 07 May 2024. Payment date: 23 May 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.5%. Lower than top quartile of Thai dividend payers (5.9%). Higher than average of industry peers (2.4%). Announcement • Apr 27
Matichon Public Company Limited Announces Changes in Committee Members and Changes to Executives Board Members, Effective from May 1, 2024 Board of Directors' meeting of Matichon Public Company Limited held on April 25, 2024 has resolved the meeting's resolution as follows:The board has resolved to appoint Pol.Gen.Sutep Dechrugsa as Independent Director and Audit Committee Member, effective April 26, 2024, and to serve for the remaining term of the outgoing committee member he is replacing, The list of the Audit Committee Member as follows: Mr.Paitoon Netipoh Independent Director and Chairman of Audit Committee, Mr.Somchart Dolayanukloh Independent Director and Audit Committee Member Pol.Gen.Sutep Dechrugsa Independent Director and Audit Committee Member, Appointing Mr.Khanchai Boonpan, President of the Board, as Chairman of Matichon Public Company Limited with effective from May 1, 2024, Appointing Miss Parnbua Boonparn, Managing Director, as the President of Board with effective from May 1, 2024, Appointing Mr.Prap Boonpan, Deputy Managing Director of Technology and Digital Media, as Managing Director with effective from May 1, 2024, Appointing Mr.Worasak Prayoonsook, Managing Director of Ngandee Co. Ltd. as Deputy Managing Director of Online Media System and Editor of Prachachat Business with effective from May 1, 2024. Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: ฿0.16 (vs ฿0.38 in FY 2022) Full year 2023 results: EPS: ฿0.16 (down from ฿0.38 in FY 2022). Revenue: ฿702.0m (up 2.9% from FY 2022). Net income: ฿30.6m (down 56% from FY 2022). Profit margin: 4.4% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Mar 02
Matichon Public Company Limited, Annual General Meeting, Apr 25, 2024 Matichon Public Company Limited, Annual General Meeting, Apr 25, 2024, at 09:30 SE Asia Standard Time. Location: Conference Room on G Floor of the KHAOSOD Company Limited 40/10 Tethsabannaruemarn Road, Prachanivate 1 Ladyao Chatuchak Bangkok 10900 Bangkok Thailand Agenda: To Certify the Minutes of the Annual General Meeting of Shareholders No.1/2023 held on 27 April 2024; to acknowledge the performance of the Company for the year 2023; to consider and approve the Statement of Financial Position, the Statement of Comprehensive Income and Statement of Cash Flow for the year ended 31 December 2023; to consider and approve payment of the dividend for the year 2023; to consider the election of directors in replacement of their retiring by rotation; and to discuss other matters. Announcement • Mar 01
Matichon Public Company Limited Proposes Dividend for the Period from 1 January 2023 to 31 December 2023, Payable on 23 May 2024 Matichon Public Company Limited announced that at its board meeting held on 29 February 2024 passed the following resolutions: Resolution to propose to the AGM to approve dividend payment for the operation from 1 January 2023 to 31 December 2023 will be THB 0.25 per share for 185,349,200 ordinary shareholders total THB 46,337,300. The dividend for the year 2023 will be paid from profit for the year which are subject to corporate income tax of 30%. The dividend will be paid to shareholders on 23 May 2024 and determine the list of shareholders for the right to receive dividend (Record Date) will be on 8 May 2024. Announcement • Dec 22
Matichon Public Company Limited Announces Executive Changes Matichon Public Company Limited notified a resignation of Mrs. Thaveeporn Phichai as the position of Company Secretary. The resignation is effective from January 1, 2024 onwards. The Board of Director's Meeting of the Company has resolved in the Meeting No.12/2023 held on December 22, 2023 to appoint Miss Titirat Tanpaisal as the Company Secretary in replace of Mrs. Thaveeporn Phichai. The appointment shall be effective on January 1, 2024 onwards. Reported Earnings • Nov 18
Third quarter 2023 earnings released: EPS: ฿0.08 (vs ฿0.086 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.08 (down from ฿0.086 in 3Q 2022). Revenue: ฿184.7m (up 8.6% from 3Q 2022). Net income: ฿15.1m (down 4.9% from 3Q 2022). Profit margin: 8.2% (down from 9.3% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. New Risk • Aug 18
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 197% Dividend yield: 3.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 197% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.7% net profit margin). Market cap is less than US$100m (฿1.49b market cap, or US$42.2m). Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ฿0.06 (vs ฿0.14 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.06 (down from ฿0.14 in 2Q 2022). Revenue: ฿192.9m (up 14% from 2Q 2022). Net income: ฿10.8m (down 59% from 2Q 2022). Profit margin: 5.6% (down from 16% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 28% per year. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: ฿0.07 (vs ฿0.10 in 1Q 2022) First quarter 2023 results: EPS: ฿0.07 (down from ฿0.10 in 1Q 2022). Revenue: ฿172.4m (flat on 1Q 2022). Net income: ฿12.2m (down 36% from 1Q 2022). Profit margin: 7.1% (down from 11% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 02
Upcoming dividend of ฿0.25 per share at 3.1% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (1.6%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Paitoon Netipoh was the last independent director to join the board, commencing their role in 2006. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ฿7.25, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 31x in the Media industry in Thailand. Total returns to shareholders of 61% over the past three years. Buying Opportunity • Oct 31
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be ฿9.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has grown by 82%. Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: ฿0.14 (vs ฿0.86 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.14 (down from ฿0.86 in 2Q 2021). Revenue: ฿168.9m (up 2.8% from 2Q 2021). Net income: ฿26.1m (down 84% from 2Q 2021). Profit margin: 16% (down from 97% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Jun 25
Matichon Public Company Limited Announces Redesignation of Siriwat Vongjarukorn from Director to Independent Director Matichon Public Company Limited at its board meeting held on 24 June 2022 resolved to redesignate Mr.Siriwat Vongjarukorn (presently Director) from Director to Independent Director, effective from 24 June 2022. The company's Independent Directors consists of 5 members includes Mr. Paitoon Netipoh, Mr. Thai Supanichvorapart, Mr. Somchart Dolayanukloh, Pol. Gen. Sutep Dechrugsa and Mr. Siriwat Vongjarukorn. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: ฿0.10 (vs ฿0.05 in 1Q 2021) First quarter 2022 results: EPS: ฿0.10 (up from ฿0.05 in 1Q 2021). Revenue: ฿171.0m (up 8.0% from 1Q 2021). Net income: ฿19.1m (up 107% from 1Q 2021). Profit margin: 11% (up from 5.8% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.45 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.7%). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Paitoon Netipoh was the last independent director to join the board, commencing their role in 2006. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿1.18 (up from ฿0.14 in FY 2020). Revenue: ฿673.6m (up 1.4% from FY 2020). Net income: ฿218.9m (up ฿192.2m from FY 2020). Profit margin: 33% (up from 4.0% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS ฿0.19 (vs ฿0.098 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿176.4m (down 2.0% from 3Q 2020). Net income: ฿34.7m (up 91% from 3Q 2020). Profit margin: 20% (up from 10% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 16% share price gain to ฿8.50, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 37x in the Media industry in Thailand. Total returns to shareholders of 83% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.86 (vs ฿0.001 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿164.3m (up 11% from 2Q 2020). Net income: ฿160.0m (up ฿160.1m from 2Q 2020). Profit margin: 97% (up from net loss in 2Q 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improved over the past week After last week's 23% share price gain to ฿7.50, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 25x in the Media industry in Thailand. Total returns to shareholders of 37% over the past three years. Reported Earnings • Jun 06
First quarter 2021 earnings released: EPS ฿0.05 (vs ฿0.055 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿158.4m (up 1.9% from 1Q 2020). Net income: ฿9.20m (up ฿19.4m from 1Q 2020). Profit margin: 5.8% (up from net loss in 1Q 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ฿0.05 (vs ฿0.055 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿158.4m (up 1.9% from 1Q 2020). Net income: ฿9.20m (up ฿19.4m from 1Q 2020). Profit margin: 5.8% (up from net loss in 1Q 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improved over the past week After last week's 17% share price gain to ฿6.45, the stock trades at a trailing P/E ratio of 44.8x. Average trailing P/E is 31x in the Media industry in Thailand. Total loss to shareholders of 13% over the past three years. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 25 May 2021. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (1.2%). Announcement • Apr 29
Matichon Public Company Limited Announces Change in Dividend Policy Matichon Public Company Limited announced change in dividend policy. The company has a policy to distribute dividends to the shareholders at the rate of not exceeding than 50% of net profit after deducting corporate income tax of the separate financial statements. Such dividend payment may be changed upon other factors the Board of Directors considers necessary and appropriate. The annual dividend payment is approved by the Annual General Meeting of shareholders next year to the year operation. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improved over the past week After last week's 30% share price gain to ฿7.15, the stock trades at a trailing P/E ratio of 49.6x. Average trailing P/E is 29x in the Media industry in Thailand. Total loss to shareholders of 10% over the past three years. Announcement • Mar 14
Matichon Public Company Limited Proposes Dividend for the Year Ended December 31, 2020, Payable on May 25, 2021 Matichon Public Company Limited at its board meeting held on March 12, 2021 passed the resolution to propose to the AGM to approve dividend payment for the operation from January 1 to December 31, 2020 will be THB 0.20 per share for 185,349,200 ordinary shareholders total THB 37,069,840. The dividend for the year 2020 will be paid from retained earnings which are subject to corporate income tax of 23%. The dividend will be paid to shareholders on May 25, 2021. Announcement • Mar 13
Matichon Public Company Limited, Annual General Meeting, Apr 27, 2021 Matichon Public Company Limited, Annual General Meeting, Apr 27, 2021, at 08:00 Indian Standard Time. Location: Conference Room on the 9th Floor of the Matichon Public Company Limited 12 Tethsabannaruemarn Road Prachanivate 1 Ladyao Chatuchak Bangkok Thailand Agenda: To acknowledge the performance of the Company for the year 2020; to consider and approve the Statement of Financial Position, the Statement of Comprehensive Income and Statement of Cash Flow for the year ended December 31, 2020; to consider and approve payment of the dividend for the year 2020; to consider the election of directors in replacement of their retiring by rotation; to consider and approve the appointment of a new director; to consider and approve the remuneration of directors for the year 2021; to consider and approve the appointment of the Company's auditors and their fee for the year 2021; and to consider any other matters. Is New 90 Day High Low • Mar 09
New 90-day high: ฿5.00 The company is up 12% from its price of ฿4.46 on 08 December 2020. The Thai market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 2.0% over the same period. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS ฿0.14 (vs ฿0.21 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿664.1m (down 16% from FY 2019). Net income: ฿26.7m (up ฿64.9m from FY 2019). Profit margin: 4.0% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 82% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Jan 15
Matichon Public Company Limited Announces Thakoon Boonparn Company Director, Vice Chairman and Executive Director Passed Away Matichon Public Company Limited informed that Mr. Thakoon Boonparn Company Director, Vice Chairman and Executive Director, has passed away on January 12, 2021. Is New 90 Day High Low • Dec 08
New 90-day high: ฿4.46 The company is up 12% from its price of ฿4.00 on 03 September 2020. The Thai market is also up 12% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Media industry, which is up 14% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ฿0.10 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ฿179.9m (flat on 3Q 2019). Net income: ฿18.1m (up 276% from 3Q 2019). Profit margin: 10% (up from 2.7% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 83% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Announcement • Sep 26
Matichon Public Company Limited Announces Board Appointments The Board of Directors of Matichon Public Company Limited at Meeting held on September 24, 2020 has approved the appointment of new three directors as follows: Pol. Gen. Sutep Dechrugsa as an Independent Director, Mr. Worasak Prayoonsook as a Director and Mr. Suriwong Aurepatipan as a Director. 
