ONEE : THE ONE ENTERPRISE PUBLIC COMPANY LIMITED
YE/2025 (Jan - Dec 2025)
Business Overview

Operates a fully integrated business in Content Creation & Lifestyle Entertainment, covering the entire value chain as a Vertically Integrated Service Provider. This includes content creation and production, artist management, and ownership of distribution channels across both offline and online platforms.

Financial Statement
2025 2024 2023 2022
Income Statement (MB)
Revenues 7,331.32 6,700.96 6,533.49 6,235.97
Expenses 6,839.52 6,159.62 5,874.32 5,366.75
Net Profit (Loss) 450.47 421.02 505.09 738.53
Balance Sheet (MB)
Assets 9,975.30 9,235.84 9,500.25 9,394.62
Liabilities 2,817.59 2,194.11 2,365.78 2,266.50
Shareholders' Equity 7,158.32 7,041.22 7,138.87 7,133.83
Cash Flow (MB)
Operating 995.46 847.06 602.99 541.31
Investing -1,206.11 -157.27 3.21 -599.03
Financing -411.81 -586.08 -586.84 -833.95
Financial Ratio
EPS (Baht) 0.19 0.18 0.21 0.31
GP Margin (%) 35.09 38.87 39.19 42.00
NP Margin (%) 6.12 6.36 7.75 11.84
D/E Ratio (x) 0.39 0.31 0.33 0.32
ROE (%) 6.34 5.94 7.08 10.57
ROA (%) 5.08 5.70 6.95 9.32
Business Plan

focuses on generating revenue through multiple channels, leveraging its expertise across various fields—recognized as the Group’s core strength. The company has 3 key business segments:

1. Content Marketing (Advertising + Copyrights + Radio) This segment involves monetizing produced content across various platforms, including TV, Online, Copyright & Licensing, and Radio.

2. Idol Marketing (Artist Management + Event & Concert + Merchandising) This segment generates revenue from various activities of affiliated artists, covering Artist Management, Concerts & Events, and Merchandising. This business caters to the needs of the artists' fan base and exhibits clear growth potential.

3. Production Business (Production Services + Studio Rental) This segment includes Production Services and Studio Rental, supporting the group's ecosystem by ensuring a fully integrated business operation from upstream to downstream.

This structure positions ONEE to capture industry trends and expand across domestic and international markets, supporting sustainable growth.

Sustainable Development Plan

The Company Prioritizes ESG Sustainability Across All Aspects:

Environment: Organized the “One Recycle” initiative, inviting employees to turn waste into upcycled reflective safety vests. The “Share for Life” initiative encourages employees to sort and recycle waste, converting into a solar rooftop system for hospital in Nan Province. The “Green Wave: Deliciously Eco-Friendly” rescues surplus food (Food Rescue) and provides lunch meals for children at community child development centers.

Social: The Company has implemented various initiatives, including the “One CSR” project to support communities affected by disasters such as earthquakes, floods, and the Thai–Cambodian border conflict. The initiative raised over 21.5 million baht nationwide and distributed more than 6,000 relief packages. The Company produces content that supports a sustainable society.

Governance: Received a CG Score of 5-star (Excellent) and 100-point score in the AGM Checklist assessment every year since 2022.

Business Highlight

Content Marketing Business: The Company offers a diverse range of quality content, including popular dramas and series such as “War of Mor Lam”, “Echoes of the Lost City”, “Ruean Chon Saeng” as well as Boy-Love and Girl-Love series, such as “Me and Thee”, that generated revenue from advertising and OTT licensing, while also serving as a platform for artists to expand into concerts and fan meetings.  In addition, ONEE produces a wide range of popular content, including variety shows and news programs, distributed across television, the oneD app, and social media platforms with over 200 million followers, enabling the Company to generate revenue from multiple content channels.

Idol Marketing Business: has shown clear growth, managing over 300 artists with strong recognition both domestically and internationally. The business secures endorsement deals and introduces new trends with various mascot artists, led by “POLCASAN”. In 2025, the Company organized 309 concerts and events, of which 219 were overseas, reflecting a solid global fan base. In addition, the Company develops merchandising products based on its artists and mascots to serve diverse fan segments.

Production Business: comprises Production Services and Studio Rental, with a key strategy to focus on developing more Original Content to drive long-term revenue growth. At the same time, Acts Studio is recognized as a world-class facility with growth potential.

Performance and Analysis
Business Performance Summary

• Total revenue, recorded at THB 7,316.82mn, increase 9.71% YoY.

• The net profit in 2025 was THB 448.95mn, rising 5.33% YoY, driven by effective content curation and optimized distribution aligned with evolving consumer preferences, and effective cost management amid challenging industry conditions.

• Content Marketing Business contributed THB 3,594.34mn, down 15.34% YoY in line with the contraction of the TV media industry and heightened global economic and geopolitical uncertainties impacting advertising spending in core media channels.

• Idol Marketing Business continued its outstanding growth, generating THB 3,552.62mn, up 59.74% YoY, driven by effective management of artists and mascot IP, targeted event execution, and solid merchandise sales supported by strong fan engagement.

• Production Business reported THB 120.97mn, down 32.59% YoY. The segment accounted for only 1.65% of total revenue. In line with its strategic plan, the Company has gradually reduced third-party production services to reallocate resources toward proprietary content development.

Key Milestones

• The company established and registered on 6 September 2013, as a wholly owned subsidiary 100% of GRAMMY 

• December 2013, ONEE won the bid for a broadcasting license to provide high-definition (HD) digital TV services for Channel ONE31.

• March 2015, Mr. Takonkiet Viravan had invested in the Company

• 2020, the Company took over 100% shares of GMMCH

• 2021, the Company went public with an IPO by offering 476,250,000 newly issued shares to public. 

• 2022, launched its own streaming platform application, “oneD”, to keep up with the consumer behavior. 

• 2023, introduce a new content line, “oneD Original”, delivering premium content well received by audiences.

Risk Management Policy

The risk from changes in the broadcasting technology further from TV and radio, due to the expansion of online media channels.

• This is driven by changing consumer behavior, as audiences increasingly use online channels, resulting in rapid growth in advertising spending on digital platforms. 

• The Company recognizes these industry shifts and has expanded its content distribution across online channels and various OTT platforms. Additionally, it has developed the OneD Application to accommodate these changes and enhance accessibility.

Revenue Structure
Content Marketing 49.5% Idol Marketing 48.9% Production Business 1.6%
Stock Information
SET / SERVICE / MEDIA
Closing price ONEE SET index 5.00 2.50 0.00 1424.00 1270.67 1117.33 964.00 2-1-25 31-3-25 3-7-25 1-10-25 30-12-25
as of 30/12/25 ONEE MEDIA SET
P/E (X) 13.61 - 15.44
P/BV (X) 0.73 0.76 1.19
Dividend yield (%) 7.94 2.57 3.71
30/12/25 30/12/24 28/12/23
Market Cap (MB) 5,095.88 10,334.63 8,810.63
Price (B/Share) 2.14 4.34 3.70
P/E (X) 13.61 20.91 18.71
P/BV (X) 0.73 1.49 1.27
CG Report:
Company Rating:
Major Shareholders
as of 25/08/2025
บริษัท จีเอ็มเอ็ม แกรมมี่ จำกัด (มหาชน) (35.09%)
นาง หทัยรัตน์ จุฬางกูร (9.96%)
บริษัท ซีเนริโอ จำกัด (8.47%)
NOMURA SINGAPORE LIMITED-CUSTOMER SEGREGATED ACCOUNT (5.88%)
นาย ถกลเกียรติ วีรวรรณ (4.44%)
Others (36.16%)
Company Information and Contact
http://www.theoneenterprise.com
ir@onee.one
0-2669-9697
Gmm Grammy Place Bldg. Sukhumvit 21 (Asok) Rd., Khlong Toei Nuea, Vadhana Bangkok 10110
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