VGI Exceeds Targets, Successfully Transforming its Platforms to Encompass “Advertising, Payment and Distribution”, Seeing its 2021/22 Revenue Soars by 65.2% YoY to THB 4,098mn
VGI PLC, the market leader in Offline-to-Online (“O2O”) Marketing Solutions across Advertising, Payment and Distribution platforms, announced its annual performance for 2021/22, achieving outstanding results with 65.2% growth YoY and total revenue of THB 4,098mn. This accomplishment is a result of the successful consolidation of Fanslink Communication Company Limited (“Fanslink”) that took place over 8 months and the recovery of its Out-of-Home (“OOH”) and Digital Services segments, in which the OOH segment grew by 2.6% YoY, recording revenue of 1,580mn, and the Digital Services segment grew by 6.8%, recording revenue of THB 1,004mn, while its latest Distribution segment brought in THB 1,514mn in total revenue. Moreover, the Company saw great success in expanding its portfolio to cover distribution through investments in a variety of strategic partners, and has transformed its ecosystem from spanning Advertising, Payment and Logistics platforms to encompass “Advertising, Payment and Distribution”, aligning to its future business goals.
Commenting on this achievement, Nelson Leung, CEO of VGI, said, “Weathering the COVID storm in the past year, VGI achieved tremendous success in expanding our business into the distribution market, allowing us to offer fully comprehensive O2O Marketing Solutions for our clients. Last year, we saw our Advertising segment receiving growing interests from locally as well as internationally renowned brands, thanks particularly to our BTS Train Body Wrap. Our Payment segment also continued to expand its digital and online offerings to cover digital lending service by RCash as well as insurance and financial products through RCare, which partnered with 70 leading companies to pursue the goal of becoming the number one insurance brokerage in Thailand. Meanwhile, in the previous year, we saw 15mn Rabbit Cards issued and Rabbit LinePay users reaching 9.5mn. Likewise, our Distribution segment made great progress through our alliance and synergies with Fanslink and leading companies like Jaymart PCL (“Jaymart”), which has recently invested and granted the right to Nation International Edutainment Public Company Limited or NINE to lease commercial spaces on the BTS Skytrain. This deal will allow VGI to better devise our O2O Marketing Solutions strategy based on the analysis of consumer behaviour on premium commercial spaces to help brands effectively meet demands of consumers.”
“We are confident that in 2022/23, VGI will grow by at least 60 – 70% and return to profitability. With the increasing number of BTS users and the recovery of the tourism industry, which shall boost our advertising and digital income, coupled with our successful consolidation of Fanslink that has shown great performance in the past year, we have set our revenue target at THB 6,500 – 7,000mn. As for future investments, we have set aside THB 700mn to brace for new opportunities to strengthen our Company and achieve sustainable growth,” Mr. Leung added.
VGI Board of Directors has approved the payment of cash dividend at THB 0.04 per share to existing shareholders, of which it had made an interim payment at THB 0.02 per share in March 2022, while final payment of the remaining THB 0.02 per share from the operating results of 2H 2021/22 is subject to the approval of the shareholder’s meeting on 19 July 2022.
