Asia Plus Securities released an analysis forecasting that service revenue and equipment sales at Advanced Info Service Public Company Limited, or ADVANC, in the fourth quarter of 2026 will get a boost from seasonal factors, and will also recognize a full quarter of iPhone 18 sales after the launch in mid-September 2026, with a foldable-screen model to be launched in October 2026 that is expected to significantly drive sales growth beyond previous levels. However, this may be partly offset by higher costs and expenses from a larger investment plan and year-end marketing activities. For the third quarter of 2026, the research team expects ADVANC to post a net profit flat from the previous quarter at 13.6 billion baht, but still up 14% year on year compared with the third quarter of 2025, which was still affected by the roaming service project with NT that generated losses, and that project expired in early August 2025. The research team maintained its normal profit estimates for 2026 and 2027 at 54 billion baht, up 18% year on year, and 59 billion baht, up 9% year on year, respectively. It also maintained its 2027 target price at 428 baht and a buy recommendation, expecting a dividend yield for the full years 2026 to 2027 of 5.0% to 5.2%.
Advanced Info Service Public Company LimitedHigher costs and expenses from a larger investment plan and year-end marketing activities may partly offset the profit boost.
Asia Plus Group Holdings PCL
