บทวิเคราะห์ (Research)

ADVANC : EPL is coming! We reiterate a Buy rating with Bt311 TP for ADVANC. There is the news that ADVANC will become a main sponsor for the EPL and FA cup under JAS’s management next season. ADVANC will be eligible to broadcast all EPL and FA cup but will have to pay Bt1b in return. If we assume that ADVANC can earn the same revenue as TRUE at Bt1.6b a year, this implies ADVANC will earn Bt600m a year from EPL, which is tiny compared with ADVANC’s earnings. We maintain our EPS growth of 6.6% this year with upside risk from upcoming auction and believe EPL will create the stickiness strategy to its subs.