The Company operates its business as a Holding Company, in which the Company operates through its subsidiaries and associates that operate in core businesses, the Company aims to enhance its integrated entertainment business and its technology & platform business for the integrated entertainment business.
| 9M23 | 9M22 | 2022 | 2021 |
|---|
| Revenues | 4,160.50 | 3,530.85 | 5,321.58 | 3,892.83 |
| Expenses | 3,889.36 | 3,652.45 | 5,095.94 | 3,908.19 |
| Net Profit (Loss) | -36.68 | -81.76 | 166.41 | 497.12 |
| Assets | 6,158.74 | 5,484.68 | 6,170.77 | 5,058.84 |
| Liabilities | 4,537.76 | 4,092.74 | 4,532.65 | 3,576.47 |
| Shareholders' Equity | 1,492.27 | 1,280.59 | 1,531.02 | 1,365.46 |
| Operating | -67.87 | -88.86 | 153.34 | -100.72 |
| Investing | 96.69 | 95.95 | 46.17 | -621.16 |
| Financing | -200.59 | 92.87 | 2.22 | 559.76 |
| EPS (Baht) | -0.04 | -0.10 | 0.20 | 0.61 |
| GP Margin (%) | 42.02 | 33.61 | 39.10 | 43.26 |
| NP Margin (%) | -0.46 | -2.16 | 3.43 | 13.24 |
| D/E Ratio (x) | 2.80 | 2.94 | 2.77 | 2.41 |
| ROE (%) | 15.25 | 1.50 | 11.49 | 45.33 |
| ROA (%) | 9.35 | 0.01 | 4.87 | 12.47 |
The company focuses on sustainable business development by restructuring and adopting a new business model as a holding company. This facilitates clearer and more agile management of each core business group, providing opportunities for business expansion and partnerships. Its core operations, conducted through subsidiaries and associates that operate in the core businesses, consist of music business, home shopping business, and TV content business.
The company is committed to conducting business according to the organization's philosophy, vision, and mission, which is an essential foundation that leads to the goal of creating sustainability for the best interests of the company and stakeholders throughout the value chain. The company is committed to operating under good governance and good corporate governance principles, being responsible for the community society, caring for the environment, and considering all stakeholders' expectations. All of the above are integrated into the policies and strategies for sustainable development to create shared value between business and society, leading to sustainable organizational growth, 4 Strategies for Sustainable Development.
1. Create economic value with the creation of works international quality and adhere to good corporate governance principles
2. Take care and develop the human resources to ensure the high-qualified personnel
3. Participation in social responsibility
4. Promote environmentally responsible operations for sustainable coexistence.
• On Feb 27, 23, the Board of Directors’ Meeting of the Company passed a resolution regarding the restructuring of the music business unit of the Company by approving the sale and disposal of the Company’s assets relating to the music business unit to a new established company. On Apr 7, 23, the Company registered the establishment of GMM Music Co., Ltd. (GMM Music), the Company holds 100% of the share. On Aug 21, 23, the company signed an agreement to transfer the music business for sale to GMM Music Co., Ltd. The actual transfer of the music business occurred on Sep 1, 23. The company transferred shares in four related companies associated with the music business. These companies include: (1) GMM Music Publishing International Co., Ltd. (2) GR Vocal Studio Co., Ltd. (3) G200M Co., Ltd., (4) YGMM Co., Ltd.
• On Jul 27, 23, the Board of Directors’ Meeting of the Company
approved the plan for the Initial Public Offering (IPO) of GMM Music Co., Ltd. (GMM Music), a subsidiary of the Company, and the listing of the ordinary shares of GMM Music on the Stock Exchange of Thailand (the “SET”) whereby GMM Music is a flagship company of the Company Group.
• 9M2023, the Company reported total revenue of 4,160.50 MB. +17.83%YoY.The operating revenue was 4,121.26 MB.+19.67%YoY.
The majority of the increased revenue came from the music business group, which grew by 39.0% YoY. Notably driven by the showbiz business, artist management, the digital music business, it continues to grow continuously as well. As for the home shopping business and movie business, they grew slightly by 2.3% and 1.3%, respectively, while satellite TV business distribution experienced a decrease of 22.3% , 21.7%, respectively.
• 9M2023, total gross profit was 1,731.84 MB. +24.40%YoY, and the gross profit margin of 42.0% increased from 40.4% due to the company's more efficient management of selling costs, resulting in increased profitability.
• 9M2023, net loss attributable to equity holders of the Company was 36.68 MB., -134.91%YoY, the Company had a fair value loss on other financial assets of 167.83MB. from the investment in “KISS”.
• Q3/23 collaborated with RS Music organized 2 concerts (1) GRAMMY X RS: 90’s Versary Concert (2) GRAMMY X RS: 2K Celebration managed by the professional team "GMM SHOW," aimed to create immense fun and unforgettable memories for music fans. This project was part of the ongoing series of concerts, GRAMMY RS Concerts. GMM SHOW an organized "The Concert Application presents Three Man Down Live in Impact Arena 2023" held on Aug 19, 23.
• Q3/23 released the movie "PAST LIVES" from the A24 studio, This marked the first time GDH served as the distributor for an international film under the name "Out of the Box by GDH."
• The Company launched the music label “GMM SAUCE” under the concept of Creative & Innovative music to answer the popularity of “Short Content” in the music market to produce music of no more than 55 seconds in length and music videos in the format. Vertical Short VDO distributed through all social media platforms.
The company has placed high importance on risk management
processes at both corporate and operational levels in line with the
risk management policy and framework formulated to mitigate
risks to be at an acceptable level, suitable to the environment.
During the year the company has improved strategies in various
areas on a continued basis, aiming to manage risks that may arise
in both new and core businesses of the company, such as
improvement of organizational structures, work processes, human
resources development at high and middle levels in support of the
business management team in response to rapid business growth.
| as of 28/09/23 | GRAMMY | MEDIA | SET |
|---|---|---|---|
| P/E (X) | 24.76 | 35.85 | 20.33 |
| P/BV (X) | 4.93 | 1.44 | 1.44 |
| Dividend yield (%) | - | 2.34 | 3.18 |
| 28/09/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 7,584.53 | 8,363.49 | 10,905.33 |
| Price (B/Share) | 9.25 | 10.20 | 13.30 |
| P/E (X) | 24.76 | 446.37 | 80.12 |
| P/BV (X) | 4.93 | 6.53 | 8.92 |
