VGI Announces Q1 FY2025/26 Performanceand Advances Strategic Partnerships to Strengthen All Business Segments

VGI Public Company Limited (“VGI”), Thailand’s leading Offline-to-Online (O2O) solutions provider through a diverse platform, announced its financial results for the first quarter of fiscal year 2025/26, reporting total revenue of THB 1,115 million, down 7.4% from the same period last year. The decline was primarily due to lower revenue from the Advertising and Distribution businesses, while the Digital Services business recorded revenue growth, helping to support the overall performance. The Company achieved a gross profit margin of 35.9%, up from 33.9% in the previous year, and recorded a net profit of THB 45 million, representing a net profit margin of 4.0%. VGI continues to maintain a solid financial position with high cash and short-term financial assets and no interest-bearing debt.

During the quarter, VGI strengthened its strategic partnership with Plan B Media Public Company Limited by signing an agreement in May 2025 for Plan B to manage sales and marketing of VGI Group’s advertising media. In July 2025, VGI increased its investment in Plan B by THB 1,000 million, raising its shareholding to 23.3%, appointed its representative to Plan B’s Board of Directors, and reclassified the investment as an associate. In addition, at the 2025 Annual General Meeting of Shareholders, VGI approved the payment of a dividend from the fiscal year 2024/25 performance of up to THB 294 million, or THB 0.013 per share, scheduled for payment on August 21, 2025.

The Advertising business recorded revenue of THB 454 million, down 17.0% year-on-year, with mass transit advertising contributing THB 403 million (-20.1% YoY) and office and other media contributing THB 52 million (+18.3% YoY). The overall decline was mainly due to lower revenue from column wrap media at BTS stations, partly offset by higher revenue from in-train, out-of-train, and station media, with media utilization improving to 45.2% from 42.4% last year. The Company also launched a new advertising format, “Platform Shelter,” at four prime stations – Asoke, Phrom Phong, Sala Daeng, and Chong Nonsi – combining large-format static media (over 70 sqm) with LED screens to engage high-spending urban commuters. The Digital Services business generated THB 403 million in revenue, up 9.2% year-on-year, supported by growth from Rabbit Cash, Rabbit Care, and Rabbit Card, including the upcoming “Rabbit Wallet” feature launch in October 2025 to support the “THB 20 Flat Fare” policy. The Distribution business posted revenue of THB 258 million, down 10.5% year-on-year, with partial support from the expansion of Turtle convenience stores to 28 locations and a continued focus on high-margin products under the Pando and EZHome brands.

For FY2025/26, VGI targets total revenue of THB 6,000–6,500 million, with 40% from the Advertising business, 35% from Digital Services, and 25% from the Distribution business. The Company will continue to develop unique advertising products in collaboration with Plan B and leverage the upcoming THB 20 Flat Fare policy, which is expected to increase overall passenger volume by 30–40%, benefiting advertising visibility and retail sales across the network. VGI also remains committed to financial strength and business expansion in both existing and new high-potential segments. In recognition of its sustainability achievements, VGI has been ranked as the world’s most sustainable company in the Media, Movies & Entertainment sector by S&P Global in The Sustainability Yearbook 2025 for the third consecutive year, and its shares remain included in the SET100 Index (January–March 2025) and the SET50 Index (April–December 2025).