Digital services revenue rises 31%, supporting VGI’s THB 5.0–5.5bn revenue target for this year. VGI looks to the THB 17–45 common fare scheme for a boost.

VGI Public Company Limited (“the Company” or “VGI”), a leading provider of offline-to-online marketing solutions across multiple platforms, reported revenue from services and sales of THB 1,219mn for 2Q 2026/27, up 8.5% year on year, with its digital services business the main driver. Net profit rose 62.3% year on year to THB 128mn.

Advertising revenue fell 8.5% year on year to THB 450mn but rose 1.4% from the previous quarter. The Company has developed media that better serve clients, such as BTS x LINE Beacon, which pushes product information and promotions to passengers’ LINE application while they are in a station, allowing them to make purchasing decisions on the spot.
The service now operates at 12 high-traffic BTS stations.

Digital services revenue rose 31.4% year on year to THB 478mn, driven by 1) lead-generation revenue and insurance commissions at Rabbit Care, 2) interest income from Rabbit Cash’s lending, and 3) project management revenue. Bangkok Smartcard System Company Limited (“BSS”) is developing an EMV card, with trials planned for late 2026,
in preparation for the government’s common ticketing policy and common fare scheme. BSS is also extending its partnerships: the Rabbit Virtual Card went live on Samsung Wallet in October 2026.

Distribution revenue increased 8.6% year on year to THB 290mn, driven mainly by sales
of high-margin products at RBytes, including smartwatches, pet products and gadgets.
The increase was partially offset by lower retail revenue at Turtle and the absence of revenue from the publishing and book business of Turtle, which was discontinued at the end of 2025/26.

“Our digital services business delivered particularly strong revenue growth this quarter.
At the same time, more efficient cost management across the group lifted our gross profit margin to 36.5%. Although consumer purchasing power remains fragile and businesses are still cautious about advertising spend, we believe the THB 17–45 common fare scheme, expected to take effect in January 2027, will support both our transit media business and Turtle shops at rail stations. We therefore remain confident of meeting our 2026/27 revenue target of THB 5bn–5.5bn, backed by a strong financial position that supports both our existing businesses and future investment opportunities.”— Chitkasem Moo-Ming, Chief Financial Officer, VGI Public Company Limited