The ADVERTISING BUSINESS generated revenue of THB 444 million from transit and office media, with utilization rate of 49.1%, decreasing from 51.0% YoY, in line with declining advertising revenue. 

The DIGITAL SERVICES BUSINESS generated revenue of THB 433 million, driven by Rabbit Care, an online insurance and financial products comparison platform, which continued to expand its insurance product portfolio and enhance customer services through digital technology and mobile applications. Meanwhile, Rabbit Cash continued to grow by driving the nano-finance business, with a focus on enabling small entrepreneurs to gain easier access to funding. Bangkok Smartcard System, the operator of Rabbit Card, is conducting a feasibility study on the development of the EMV card, a Card that supports contactless payment technology. The initiative aims to prepare for the Government’s common ticketing policy and fare structure.

The DISTRIBUTION BUSINESS generated revenue of THB 263 million, with Rabbit Bytes Co., Ltd. Continuing to play key role in supporting business growth through the distribution of the company’s own brand and partner’s brand, including technology, lifestyle, and snack products. Rabbit Bytes leverages its strength in offering products that meet customer needs, developing businesses in collaboration with partners, and combining these capabilities with BTS Group’s media, marketing, and distribution networks to reach consumers across both offline and online channels. Meanwhile, Super Turtle operated a total of 36 TURTLE shops, an increase of 8 shops from the same period last year. Super Turtle will continue to pilot the expansion of its shops into Bangchak gas stations to enhance brand awareness and reach consumers on the go.

Looking ahead, VGI will continue expanding its collaboration with PlanB alongside growing its digital services and distribution businesses, while enhancing operational efficiency across all areas. The Company targets total revenue of THB 5,000–5,500 million in FY 2026/27, representing 8–18% YoY growth. Meanwhile, the Company is prepared to invest in expanding existing businesses or new businesses with potential to support future growth.

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During the year, VGI continued strengthening its strategic partnership with PlanB through the development of new media packages and marketing solutions by combining media assets of both companies, creating a unique and innovative advertising package. The collaboration was further reinforced through VGI’s investments in PlanB, resulting in a 24.1% shareholding as of 21 April 2026.

The ADVERTISING BUSINESS generated revenue of THB 1,949 million. Media utilization rate (excluding media at BTS station pillars) rose to 51.7%, increasing from 49.1% last year. 

In the DIGITAL SERVICES BUSINESS, Rabbit Card became the first in Thailand to launch on Samsung Wallet, while also expanding compatibility with new Garmin smartwatches to enhance consumers’ digital payment experience. Rabbit Care, an online insurance and financial products comparison platform, leveraged AI technology to strengthen sales and customer services, while Rabbit Cash continued expanding its welfare loan business with leading organizations. The digital services business generated revenue of THB 1,620 million, with the digital lending business and online financial product comparison platform continuing to support its growth. 

For The DISTRIBUTION BUSINESS, Fanslink Communication Co., Ltd. was officially renamed “Rabbit Bytes Co., Ltd.” (“Rabbit Bytes”) and continued expanding through technology and lifestyle products, including the launch of “Snack Maker,” a creator-led snack business. Rabbit Bytes offers products that meet customer needs, develops business collaborations with partners, and leverages BTS Group’s media, marketing, and distribution ecosystem to reach consumers both offline and online. Meanwhile, Super Turtle expanded to 29 TURTLE stores by the end of FY 2025/26. The distribution business recorded revenue of THB 1,077 million, with Rabbit Bytes continuing to play a key role in supporting business growth through sales of its own brands and partner brands.

Looking ahead, VGI will continue expanding its collaboration with PlanB alongside growing its digital services and distribution businesses, while enhancing operational efficiency across all areas. The Company targets total revenue of THB 5,000–5,500 million in FY 2026/27, representing 10–15% YoY growth. Meanwhile, the Company is prepared to invest in expanding existing businesses or new businesses with potential to support future growth.

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This year, VGI awarded a total of 83 scholarships with a combined value of THB 415,000, along with souvenirs for the students as encouragement in their educational journey. The ceremony was attended by VGI’s executives, led by Nelson Leung, Executive Director and Chief Executive Officer represented the Company at the event.

The activity reflects VGI’s commitment to holistic employee care, extending beyond employees themselves to include their families, while contributing to a stronger society and sustainable growth together in the future.

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This recognition was awarded for VGI’s Annual General Meeting of Shareholders 2025, which successfully met TGO’s certification standards for carbon offset activities, achieving net-zero greenhouse gas emissions for the event.

Receiving this certification reflects VGI’s strong commitment to conducting business with social and environmental responsibility. The company continues to take concrete steps toward reducing greenhouse gas emissions across its business operations, energy usage, and supply chain, while also raising awareness of climate change through its media network to support the country’s Net Zero goals and a more sustainable future.

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VGI Public Company Limited (“VGI”), a leader in Offline-to-Online (“O2O”) marketing solutions across diversified platforms, has been ranked in the Global Top 1% for sustainability by S&P Global for the fourth consecutive year. The Company has also been selected as a Sustainability Member in the S&P Sustainability Yearbook 2026 for the fifth year, reinforcing its leadership in the Media, Movies & Entertainment industry at the global level.

VGI ranked No. 1 globally in the Media, Movies & Entertainment industry with a score of 82 out of 100, based on the 2025 Corporate Sustainability Assessment (CSA) conducted by S&P Global. The CSA is widely recognized as one of the world’s most comprehensive and rigorous sustainability evaluation frameworks. These achievements reflect VGI’s consistent and tangible performance across Environmental, Social, and Governance (ESG) dimensions, making it the first and only media company in Thailand to receive this distinction.

The Sustainability Yearbook 2026 assessed more than 9,200 companies across 59 industries worldwide. Of these, only 848 companies achieved Yearbook membership, with 48 companies from Thailand included. Within the Media, Movies & Entertainment industry, 177 companies participated in the assessment, underscoring the competitiveness of the global evaluation process.

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Mr. Victor Tophothiyosakul, CEO of Rabbit Group, stated that the heart of the project lies in serving as a strategic support system for creators, utilizing the BTS Group’s strengths as a leader in advertising media, marketing solutions, distribution networks, and high-traffic retail spaces across BTS stations.

“Snack Maker is not simply about producing snacks. It represents a new business model that combines the strengths of two worlds. Instead of relying on traditional marketing models, we adopt a community-led strategy, where creators drive demand through their fan communities and integrate this power with the BTS Group ecosystem.

Under the concept ‘Snacks for People with Ideas’ and the hashtag #ThinkAndChew, we believe every snack represents the personality and story of its creator. Consumers therefore become more than just buyers—they become part of the brand journey from the very beginning,” said Mr. Victor.

The first wave of products launched under the Snack Maker project reflects the unique personality and lifestyle of each creator:

• Kai Der by Peach Eat Laek – Classic crispy fried chicken skin that elevates Thai street food into premium packaged snacks, perfect for serious snack lovers who appreciate quality.
• Mu-Te-Boom by OHANA – A tangy lemon gummy snack with a playful “Mu-te-lu” (lucky charm) concept and fortune messages behind the package, combining bold flavor with a fun storytelling element.
• Maison Taohuu by Zom Marie – Light cheese-flavored crispy tofu skin snacks inspired by Zom Marie’s favorite ingredients, reimagined into a light yet flavorful crunchy treat.
• DOTS Granola by PigkaPloy – Chocolate granola mixed with cranberries, inspired by an active lifestyle. Convenient, nutritious, and designed for modern consumers who care about healthy snacking on the go.

More than just a snack project, Snack Maker is a platform that enables Thai creators to turn their ideas into real brands. By combining the power of creators, their fan communities, and the BTS Group ecosystem, the project connects creativity with real market opportunities and supports sustainable brand growth.

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During the quarter, The ADVERTISING BUSINESS continued to develop innovative advertising products, including the launch of new media packages such as BTS MAX, BTS Concourse, and MOVE 360 Full, designed to enhance brand visibility and consumer reach across urban areas and daily commuting journeys. Advertising media within mass transit systems and office buildings continued to attract strong interest from clients, underscoring the value of high-quality media that reaches consumers at key moments. DIGITAL SERVICES BUSINESS remained a key driver of VGI’s ecosystem, with the Rabbit Group expanding its user base to over 20.8 million accumulated Rabbit cards, alongside positive market response to special-edition Rabbit card collections. At the same time, Rabbit Care and Rabbit Cash continued to enhance digital financial and insurance services to better serve evolving consumer needs. For the DISTRIBUTION BUSINESS, VGI continued to diversify products and sales channels. Fanslink strengthened its position as a full-service e-commerce enabler and achieved Premium Shopee-Certified Enabler status, while the continued expansion of the Snack Maker initiative in collaboration with content creators reflected the integration of content, community, and commerce. Meanwhile, Turtle continued to expand its retail network both within and beyond mass transit areas, aligning its operational strategies with changing consumer behaviors to strengthen retail capabilities and support the Group’s overall ecosystem.

During the quarter, VGI also benefited from a strengthened shareholder structure following an increase in shareholding by BTS Group Holdings Public Company Limited, reflecting strong confidence in the Company’s long-term growth potential. This was complemented by international recognition, as VGI was named one of the world’s most sustainable companies in the media, movies, and entertainment industry for the fourth consecutive year, along with certifications under ISO 27001 and ISO 27701. Amid ongoing economic challenges, VGI remains focused on prudent growth strategies, enhancing operational efficiency across all business units, and expanding strategic partnerships to further strengthen its O2O ecosystem and deliver sustainable long-term growth.

About VGI Public Company Limited (VGI.BKK)

VGI’s core mission is to lead the creation of innovative consumer experiences through a diverse range of platforms, catering to the needs of marketers and brands. The company is also committed to building a sustainable business that benefits all stakeholders, as well as the surrounding society and environment.

Contact: VGI Public Company Limited

For press inquiries, please contact: 
Kridsanakorn Rung-in (Nam-Phueng) /Corporate Communications Department
Phone: +66 81 782 8253 / / 089-926-9595 / 084-809-9998
Email: kridsanakorn@vgi.co.th | www.vgi.co.th | Facebook: VGI Public Company Limited 

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These two internationally recognized certifications reaffirm VGI’s robust information security management system and personal data protection practices. They reflect the company’s strong commitment to safeguarding privacy, ensuring data security, and upholding transparency as top priorities. This achievement underscores VGI’s ambition to lead modern marketing with the highest level of responsibility toward personal data protection.

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Advertising revenue was THB 492 million, down 18.6% YoY, primarily due to a decline in revenue from column media along with BTS stations. This was partially supported by higher revenue from other media, with the average media utilization rate (excluding column media) rising to 48.9% from 47.0% a year earlier. To enhance media integration and campaign efficiency, VGI introduced bundled media packages — “Bangkok on the Move” and “Bangkok Live” — combining VGI’s BTS and office media network with Plan B Media’s Out-of-Home assets, covering key locations across Bangkok to deliver comprehensive reach and greater value for marketers.

Digital Services Revenue was THB 364 million, down 11.8% YoY, mainly from lower insurance commission and lead generation revenue under Rabbit Care and lower project management revenue. Meanwhile, Rabbit Cash maintained robust growth with total loans of THB 1,244 million, up 34.3% YoY, driving higher interest income and profitability for the digital segment. The Rabbit ecosystem continued to expand its user base, with 20.4 million issued Rabbit Cards, up 9.7% YoY, supported by the successful launches of limited-edition collections “Butterbear” and “Harry Potter,” both of which received overwhelming consumer response and strengthened the brand’s image among younger audiences. In parallel, Rabbit Care continued to enhance its digital insurance

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