VGI Soars 74.9% in Q1 2022/23! Delivering Impressive Total Revenue of THB 1,042mn and THB 25mn in Net Profit, Thanks to Robust Rebound of all its Business Segments

VGI PLC, the market leader in Offline-to-Online (“O2O”) Marketing Solutions across Advertising, Payment and Distribution platforms, announced its performance in Q1 2022/23, delivering an impressive 74.9% growth YoY with THB 1,042mn in total revenue and THB 25mn
in net profit, a 153.5% increase YoY. This remarkable achievement is a result of the consolidation of Fanslink Communication Co. Ltd. (“Fanslink”) and the notable recovery of all its business segments.

“This marks a bright start to the year for VGI comparing to the previous year,” said Nelson Leung, CEO of VGI, commenting on this feat.
“Our Out-of-Home (“OOH”) Advertising segment grew by 8.8% YoY, bringing in THB 411mn, thanks to the increase in the number of BTS users and the rebound of the Thai economy as a result of the easing of COVID-19 restrictions, as well as brands’ and marketers’ positive responses to our Street View media package, helping to boost sales. Our Payment segment also managed to deliver a robust growth at 19.5% YoY, amounting to THB 260mn. This was mainly due to the sales and transactions of the Rabbit Card with the rise of BTS users, and strong performance of the Rabbit Group overall. To date, there are 15.3mn Rabbit Cards issued, a 6.7% growth YoY, and 9.7mn Rabbit LINE Pay users, a 13.3% growth YoY. Meanwhile, our Distribution segment brought in THB 370mn, a result of the full-quarter recognition of performance from the consolidation of Fanslink, which began in August 2021. Altogether, each of our segments contributed to bringing us back to profitability in this quarter,” Mr. Leung explained.

“While the negative impact of the weak economy remained in the first half of 2022, the Bank of Thailand has projected the Thai economy will grow 3.3% during the second half of this year, with the country’s GDP returning to pre-COVID level in Q4 2022, as a result of growing domestic demands and the recovery of the tourism industry. In response to this positive outlook, VGI will continue to develop and strengthen all our business segments through our robust O2O Marketing Solutions strategy. And we are positively certain we will turn a profit again this year and deliver sustainable benefits to all our stakeholders through our unrelenting adeptness and operational excellence,” added the CEO.