Plan B Posts Q3/2026 Revenue of THB 2.6bn, 9M Net Profit Rises 9.5% to THB 824mn, with COM7 Earnings Contribution and iCare Investment

Plan B posts 3Q 2026 total revenue of THB 2,601mn and net profit of THB 320mn
9M 2026 total revenue hits THB 7,677mn, with net profit up 9.5% to THB 824mn
COM7 adds to earnings as Plan B advances iCare investment

Key Performance Highlights

• Continued growth in 3Q 2026 performance: Total revenue of THB 2,601mn (+10.8% YoY) and net profit of THB 320mn (+10.2% YoY), bringing 9M 2026 total revenue to THB 7,677mn (+11.8% YoY) and net profit to THB 824mn (+9.5% YoY).
• Improved profitability: 3Q 2026 gross profit margin was 36.0%, up from 31.6% last year, supported by growth in the sports marketing business, the revenue and cost structure of certain projects, and efficient cost management.
• Driving growth through strategic investments: Began recognizing its share of profit from COM7 for the first quarter and is proceeding with the planned THB 860mn investment in iCare to capture growth in the mobile phone insurance market, driven by higher smartphone values and the installment trend.
• Strong cash flow and financial discipline: Generated free cash flow of THB 2,676mn in 9M 2026, with D/E at 1.09x, while maintaining prudent liquidity management and monitoring financial covenants.

Operating Performance in 3Q 2026

Despite continued challenges in the economy and domestic purchasing power, Plan B sustained its growth in 3Q 2026, with total revenue of THB 2,601mn, up 10.8% YoY, driven by both core businesses. Operating profit rose 23.8% YoY to THB 578mn, outpacing revenue growth, reflecting improved business and cost efficiency, while EBITDA reached THB 1,229mn, up 9.0% YoY. Net profit was THB 320mn, up 10.2% YoY, despite a full quarter of finance costs from the COM7 investment, while its share of profit from COM7 has been recognized since September, marking the start of returns from this strategic investment.

The out-of-home media business continued to grow, with revenue of THB 1,950mn, up 2.5% YoY, and the utilization rate rising to 74.3% from 73.0% last year. All media segments grew, particularly static media and retail media such as department stores, supermarkets and convenience stores. The Company also continued to enhance the efficiency of its media portfolio management in strategic locations and extend partnerships with VGI and Hello Bangkok LED to strengthen its media network and expand long-term business opportunities.

The engagement marketing business was a key growth driver, with revenue of THB 615mn, up 49.4% YoY, led by the sports marketing business, which grew 79.3% YoY to THB 560mn on the successful management of marketing rights for the ASEAN Football Championship 2026 and the strong popularity of Rajadamnern World Series (RWS) among Thai and international audiences.

Strategic Developments and Recent Achievements

This marks another key step in expanding Plan B’s growth base through strategic investments. The Company recognized its share of profit from COM7 for the first quarter and is proceeding with its investment in iCare, a specialist in mobile phone insurance and electronic device protection. The Company sees growth opportunities from rising smartphone values, their essential role in daily life and the growing use of credit and installment purchases, which support long-term demand for device protection.

iCare’s key strength is its specialized expertise, combined with a strong customer base and distribution network within the COM7 ecosystem, enabling protection products to be offered alongside smartphone purchases and expanding its customer reach. It also opens opportunities for Plan B to extend media and marketing collaboration, creating new business opportunities and diversifying long-term profit sources.

Alongside its strategic investments, Plan B continued to expand Rajadamnern World Series (RWS) by enhancing the experience at Rajadamnern Stadium with Immersive Storytelling and taking the brand overseas through Road to RWS in Switzerland, which drew over 3,000 spectators, underscoring the potential of RWS to build a global audience and create new long-term growth opportunities.

Financial Position as of the end of 3Q 2026

Plan B maintained its financial strength, generating free cash flow of THB 2,676 million in 9M 2026 and holding cash and cash equivalents of THB 2,536 million at quarter-end. The debt-to-equity ratio (D/E) stood at 1.09x, while the Company remained focused on prudent liquidity and capital structure management, monitoring financial covenants, and maintaining its dividend policy of at least 50% of net profit to support long-term growth and investment opportunities, including iCare.

Strategic Outlook

For 4Q 2026, the Company expects support from seasonally higher advertising demand, as well as sports marketing, concerts and major year-end events. It will also recognize its share of profit from COM7 for a full quarter for the first time and proceed with its investment in iCare, expected to be completed by the end of 2026. The Company remains focused on sustaining growth momentum alongside improving operational efficiency, cost management and financial discipline to deliver quality growth and sustainable returns to shareholders.