State enterprise National Telecom (NT) has posted a narrower loss than expected for the first half of 2026 at 1.1 billion baht, as the company targets a return to profit by 2028.
NT has emphasised cost-effective procedures and improving digital services, which account for 25% of its revenue stream, said president Col Sanpachai Huvanandana.
The company's digital service business grew by 20-25% year-on-year, driven by its Government Data Centre and Cloud service.
NT is facing difficulties related to its operational performance as its partnerships with private telecom operators expired in September 2025. Those contracts generated a combined revenue of around 50 billion baht a year and annual net profit of 10 billion baht for NT.
Col Sanpachai said NT's core revenue drivers over the long term are its digital service business, effective cost management, and investment based on asset returns.
The projection was for a loss of more than 6 billion baht for the whole year, so a loss of 1.1 billion baht in the first half is a positive sign, he noted.
"The net loss for 2026 may not exceed 4 billion baht," said Col Sanpachai.
The company's reorganisation on April 1 has successfully streamlined operations and eliminated business redundancy, he said, ensuring roles no longer overlap at the executive and assistant levels.
"This restructuring is part of an ongoing transition towards a more agile organisation," said Col Sanpachai.
The company is navigating a major shift in its revenue mix. Mobile revenue, which once accounted for more than 50% of total income, has dropped to 15-20%.
To compensate for this decline, NT has emphasised its broadband service, which now contributes 40-50% of revenue.
The company has cash flow of nearly 100 billion baht and accumulated assets through various categories such as telecom towers, base stations, submarine cables, and buildings nationwide, all with an estimated value of more than 230 billion baht.
Col Sanpachai said that NT would rent its assets to others if it offers a positive return.
INVESTMENT PORTFOLIO
Meanwhile, NT holds an investment portfolio of listed companies and has not devised plans to sell them, he noted.
Veera Dhirapatranon, a veteran journalist and member of the House committee scrutinising the fiscal 2027 budget bill, previously told the committee that NT should liquidate some assets to strengthen its financial position.
Among the holdings Mr Veera identified were 120 million shares in Internet Thailand Plc (INET), representing roughly a 20% stake; 825 million shares in True Corporation Plc; 129 million shares in Thai Airways International Plc, which he estimated could generate more than 800 million baht if sold at around six baht per share; and roughly 3.8 million shares in BTS Group Holdings Plc.
He also urged NT to review its investments in 13 unlisted companies, recommending that any non-strategic holdings be sold.
Col Sanpachai said NT holds shares in several companies through specific conditions, meaning divestment would not be easy. Some sales may require cabinet approval.
Meanwhile, some of the stockholdings still provide satisfactory dividends, and the market value of the shares remains higher than the cost price.
