Good evening, everyone. Welcome to our second quarter of 2026 result conference call. First, let me introduce our management. Our CEO, Khun Pratthana Leelapanang.
[Non-English content]
We also have our CFO, Khun Tee Seeumpornroj.
[Non-English content]
Our Chief Enterprise Officer, Khun Phupa Akavipat.
[Non-English content]
Our Chief Retail Business, Khun Prapat Siangjan.
[Non-English content]
This quarter, we have two new chief to be present for you guys. You guys may have not met them yet. We have our Chief of Mobile Officer, Khun Lertchai Kodsup.
[Non-English content]
And Chief Broadband Officer, Khun Yordchai Asawathongchai.
[Non-English content]
Khun Nattiya and myself are sitting behind the camera, and I will be briefing you the result and running this session. At the same time, you may also reserve to ask the question through the chat box. Please type your name and your corporate name. Before we begin today's session, let me quickly introduce our virtual bank, Clicx, which was launched in July with deposit products and now has just launched the lending service. The platform is powered with alternative data, enabling a faster and smarter loan approval process and connecting with AIS Points and Privilege program. If you are paying with Clicx, you'll get 10 x the points. If any one of you haven't test our lending mechanism, please go ahead and do so.
Now let me begin our serious short brief update. In second quarter, despite the fragile economy, we sustained a revenue growth momentum from resilience demand for connectivity. In our Mobile business, the growth was driven by 16% year-on-year growth in data usage. Continued 5G adoption, which reached 19.7 million. This is growing 41% year-on-year on 5G subscriber and digital content offerings. On fixed broadband, the subscriber growth remained healthy despite seasonal softness from the rainy season and integration activities. The ARPU trend continued to improve, supported by our focus on high-quality customer and value-enhancing offerings, including premium broadband package and contents. In enterprise, the revenue growth recover QoQ. This is in line with improving economic clarity, led by continued demand for cloud solutions.
Sales and retail benefited from strong demand for premium smartphone and our ongoing strategy to expand digital lifestyle products across both online and offline channels. Overall, we delivered solid revenue growth together with prudent cost management and enable us to remain strong profitability despite the uncertain economic environment. As a result, our result exceeded our guidance across all key financial metrics. At the same time, we continue to improve both EBITDA margin and ROIC, which now reported at 19%, driving by strong operating performance and disciplined capital investment. The balance sheet also remained solid, with net debt to EBITDA around 2x , while our average interest costs stay low at around 2.6%, providing us with continued financial flexibility. Despite our strong performance, which exceeded guidance in first half, we remain cautious about the future economic outlook.
The geopolitical risks and economic environment remain fragile, while consumer sentiment, although improving in June, is still relatively soft. In addition, we face a higher base in second half of last year, as well as the possibility of recognizing initial loss from virtual bank in the second half of the year. Therefore, we maintain our guidance for both revenue growth and EBITDA, while we are confident that the result are likely to come nearer towards the upper end of our guidance. For CapEx, we continue invest in strengthening our network infrastructure to support the growing demand for connectivity and digital services. Lastly, I would like to advertise this package, which is a PLAY ALL package. If you are feeling a little stressed during earnings season, we would like you to help us subscribing to this PLAY ALL package.
We have brought flagship sports contents into one package at a very, very affordable price. This is available starting from now on, and if you are AIS customer, you can subscribe for just THB 199 per month. We hope you enjoy this. At the end of the short brief, we'll start the Q&A session now. Please be reminded that you may reserve to ask the question through the chat box. Please type your name and corporate name. We have the first one from [Piyush], HSBC.
Yeah. Hi, good evening. Congratulations, management, for great set of results. If I may, three questions. Firstly, what are the investments in second half which are weighing down on your EBITDA growth outlook? Specifically, how much of initial investments you are looking into virtual bank? Secondly, prepaid ARPU, strong improvement sequentially also. Could you talk about the levers which helped prepaid ARPU this quarter and the outlook for the same for the second half? Lastly, CapEx is much behind the full-year target. Where are you planning to spend in second half? Would it be material acceleration in second half or could you spend less than what you have guided for the full year? Thank you.
Yeah. I think on your first question, if I catch correctly, you worry about the second half EBITDA, right? I think when we started the year, we also mentioned that this year we'll try to fix a few fundamentals. One of those things will be the IT spending. IT spending in this era, a lot of that is going to be OpEx, right? Cloud-based and everything. We are consolidating a lot of operating apps within the organization. I think that will be one that's going to weigh down part of the EBITDA for the second half when we go through all the implementations. I think there are other spending that we also try to increase a bit to make sure we still maintain competitiveness. The integration of the broadband side is also another expense that may incur in the second half of the year.
Lastly, I think with virtual bank coming online, there could be just some contribution from there as well.
Let me answer on the second question about the prepaid ARPU increase. First thing first, the prepaid ARPU is increased. It is coming from the consumption is better. Average QoQ is better, about 5% more on the prepaid ARPU on that one. Along the way, since we also try to approach the right price band that customer be able to affordable on that one. Along the way, we prepare some more network that better to let them consume more continuously. Yeah.
Regarding the network investment, especially CapEx, we have a very clear plan on the second half, of which is matching the rising of the capacity needs, the increase in consumption. We do plan to invest as we guided.
Thank you, management. Can I just ask on prepaid ARPU, what is the outlook like? Are there any initiatives which you have taken in second quarte? Or recently which would further help in ARPU improvement in prepaid side?
Actually, the prepaid ARPU, we have been focused on quality, not just on the existing. Even on the new acquisition, we also pay attention on the new quality with new acquisition as well, cup.
Okay. Thank you.
Thank you. We have [Ranjan] from JP Morgan.
Hi, good evening, thank you for the presentation. Again, my first question is on the guidance. I think I've been asking the same question for the last 10 quarters, I think. If you take the higher end of your EBITDA guidance, we come to a quarterly run rate for EBITDA, which is implied with the guidance of around THB 31.5 billion. Which is going to be like 4% down quarter-on-quarter. It seems pretty steep if you're growing the business. We understand there are going to be some investments, but if you could just help us understand, what is the level of spending to bring down EBITDA by 4% as per the implied guidance? That's I'm just taking the higher end. Or can we assume that there is a bit of conservatism that you are embedding into the guidance?
The second question is on the fixed broadband business. You have a slowdown in customer growth, the ARPU's also softened a bit. Can you help us understand what's happened there? Thank you.
I think on the guidance, overall, like we mentioned since, I think, last quarter, what we most unsure of is the overall GDP and purchasing power of the people. I think that's why you also see the other side, they're lowering their revenue guidance. For us, right now we don't want to change anything, because we want to make sure that at least if we're going to miss, we're going to miss on the correct side of things. If we're correct, then we're going to overachieve, right? I think that is more our style. It doesn't really mean that we're going to spend a lot more than usual. For us, it's more of a conservative guide to make sure that in the end, we can deliver what we say we want to deliver.
The real fear for us is we're still not sure how the impact from the war, the price increase, and all that. Second half, you're going to start to see some of the price increase or cost increase on the device, the handsets, and some of the equipment that we use in the operation. That's also part of the more conservative side that we want to make sure we can deliver.
Okay. For broadband now, we focus on the customer value and now I think not impact more. The result is may have a problem on the rainy season and the customer economy cannot pay on this time. I think for the quarter three, I may focus on the customer value for our strategy.
I think in the end, don't want to say that it's no impact, but I think we know what we are going through. I think partly we are going through the hardest part of the integration. This year, as mentioned, we'll really migrate IT systems. We're really going to merge the operation. It's going to continue through the second half of this year as well. Along the way, I think there are a few factors that may impact the operation or the result. One is the weather. I think this year we have really had rainstorm in many areas in Thailand. Second, economy. When the economy is bad, I think right now broadband will feel the effect first. Lastly, the operation does make the whole things a little bit more complicated for our staff and our partners as well.
I think for those three reasons then you see some quarter good, some quarter maybe less good. Overall, I think we still command the majority of the net add in the country, and the market share of the subscriber and revenue growth still continue.
Got it. Thank you.
Thank you. We have Khun [Pisut] from Kasikorn.
Thanks for the call. I have three questions. The first one is about the fixed broadband business, follow up with [Ranjan] questions. I think this is the first time in many quarters that your broadband revenues growth was lower than your competitors. Not sure you noticed or not. I just want to know what happening in the market. The competitive dynamic has changed. How do you plan to improve the growth and gain the market share again in the broadband side? Secondly, I have one question about the EPL, English Premier League program. It seems you are no longer the exclusive partner of the EPL like before. How many EPL subscribers did you have at the end of the last season? Looking back, what are the key lessons from your partnership last seasons as well. What's your strategy going forward?
I think you are trying to accumulate a lot of sport programs internationally. My last question is about the lending business at Clicx Bank. How much have you lent out so far? Since, if I understand correctly, the loan amount is capped at THB 20,000. What happen if the customer does not repay the loan? What is your collection strategy. Can you list it or suspend the customer mobile or broadband services if they default? That's my third question, sir.
I think we do notice on the QoQ you mentioned. As I talked earlier, I think we overall trend and trajectory still doesn't change. If you look year-over-year, we're still growing at a decent rate compared to our competitor. QoQ, sometimes it's too short to say anything, our focus still trying to grow the sub base and also grow the quality subscribers. This year it's doubly tough for us because we are going through, as mentioned, the integration on the front line and the system that we use in the operation, it complicate things a little bit more. That's why I think the second quarter was a bit softer than usual. We still feel that we are very competitive in the market.
Once when we finish the integration, the resources that we have on hand and the products that we have, I think we can really win the market and the major share as we plan.
On the second question regarding EPL. I may not be able to release exact numbers of the last seasons. We all have heard a lot from JAS, so you can probably work it out from there. The last season we have achieved what we aim to achieve in terms of collaborating with JAS, to launch exclusive package for our customer. For the past few quarters I have addressed it as collaboration revenue sharing collaboration program to come up with the special packages for customer. It has been a great take up. I would like to address it that way. Our key focus since then, and even from now on, is to make sure that we bring in the best content and the best experience for customer. We accumulating many of the premium content, especially the sport contents.
Recently as some kind of upsell crossover at the beginning of the meeting, we have launched the special plan, so-called PLAY ALL, that customers subscribe and get multiple content at once, at very affordable price available for everyone, inclusive of even non-AIS telecom customer. That's what we aim for. The strategies is to bring in the best content for the customer. At this point in time, customer also be able to access to EPL directly by purchasing direct to MONOMAX or to JAS in order to enjoy that particular content through any connectivity, especially from our connectivity with best quality as possible. If you ask about, well, could we review of key learnings? I would say number one is, we believe at the right price point, customer will take up at the larger size of the addressable markets. Number two is, the quality is a very key.
In order to deliver the content without great quality, the content fulfillment and enjoyment may not be able to go as anyone want. Number two would be the quality. Those are two important pieces I like to really address.
I think on Clicx, we may not, or we should not comment on their operation. What I can tell you is everything is going as planned in terms of both the deposit account and the lending account. We did see some of the trend in the social world. I think that part we have to deal with it. It's some of the bad trend in the society that I think all the lenders have felt before, so it's nothing new. I think all the BNPL players have faced that. We will go through this. I think there are already a lot of, since the beginning in the credit scoring, in the risk framework, they have designed to deal with this. In the end, what I can only tell is it's going as planned, and we will follow up with them.
When you ask about if they don't pay, right now, I think it is a separate entity. We will have to deal with the bad borrower based on the legality of each of the business. Maybe I have to leave it at that.
Next we have Khun [Natthapruk].
Three question, please. First one, you seem to meet your double digit growth guidance for three quarters. Should we expect a stronger second half from you? Second one on product sales. I see product sales and also gross profit from product sales has been increasing a lot. Can we expect AIS to have more quota of iPhone or Samsung to be distributed that we can grow more in terms of product sales? Lastly, maybe as a broad view of in AIS point of view, I think prepaid is driven by consumption, as you mentioned. Can you give us some color between war period, post-war, and we see oil price, and then Thai Chuay Thai Plus came in as positive. How has that been driving in term of your usage?
In term of that postpaid and also fixed broadband ARPU drop, would the content of losing EPL hit on that, other contents does not help or something? May I add whether I think you invested something to broadcast EPL, would that be reusable into your new content? Finally, may I welcome your two new chiefs. I think [ Pisom], you forgot to introduce yourself, new Chief Marketing Officer. Thank you.
Talking about the number. Even though that we see the recovery from the customer, from the war and uncertain situations, we see some recovery back into after the Q2 and actually start of the Q3. We still see the challenging on the price of the hardware and some delay of the projects. If I answer you directly, I would aim for the high- single digit, not the double digit as of now, until the situation gets better on the pricing of the hardware and RAM. That would be my answer.
Okay. For product sales, yes, the first half of the year, we grew about 5.9%, and I see the good momentum to the second half of the year by having two new product launch of the Samsung and the iPhone. Those are the two product that I think the people are waiting for, including we're going to introduce two new activity, which is the omni-channel that we call for AIS. That's going to be the activity that going to stimulate the market of the product, the sales. Yeah.
Let me address the last question regarding an overall view. For prepaid as well as postpaid, the ARPU has been driven by the growth in consumption and the growth in demand in using data. You see very clearly on prepaid is continue on as Lertchai have addressed. On postpaid as well, in fact, on mobile postpaid, the consumption grow as well as ARPU. What appear from the report is also inclusive of different mix of ARPU and consumptions. In postpaid, they also have M2M, machine to machines, the car and related of which is totally different profile, coming to a little bit more mix into the base of postpaid. That's why you see flattish in ARPU because of those mix.
If we segregate it down into the consumption in mobile postpaid, they continue on growing as well as ARPU. Thai Chuay Thai and post-war, pre-war, does affect a bit in terms of the sentiment. We did see somewhat spike up during the government program early of the month. When customer or people have a bit more money in their wallets, they tend to purchase package a bit more. Definitely, if economy are not going to be good, then it's a caution that the growth may not be super high. It continue on, as mentioned, it's all about the demand to consume. Now today, mobile data become essential part of everyone's life, and we want to make sure that we continue to serve them at best.
A quick follow-up question, please, if I may, about the product sales. I'm talking about whether we can have, let's say, first lot quota. Maybe you have one million last year. Can we have two million volume? Something like this to boost sales since your sale has been increasing in that sense?
For some product, we have a proper planning. For Samsung and Oppo, I think that I have been request more sales. Unfortunately, it's very difficult to have extra supply from the Apple. Yeah.
Thank you.
Next, we have from Maybank.
Thank you for the call. I have around four questions. The first one is that when do you plan to finish the fixed broadband business integration? Also, once the integration is completed, should we expect the pace of the fixed broadband revenue growth to pick up? That's the first one. The second one is about the admin expense. In the previous conference call, I think the management mentioned that the IT modernization cost will keep the admin costs at high levels. However, if you look at this quarter, the admin cost dropped by 13% Qo Q. Why was there a big drop in the admin expense in this quarter, and how should we look at the quarterly trend of the admin expense going forward? That's the second one. The third one is about the PLAY ALL bundle at THB 199.
Prior to this launch of the cheaper plan, I think NBA package cost like THB 249 per month and golf package cost THB 499 per month. Are you concerned that the cheaper bundle would have negative impact on revenue and profit as customers could downgrade to THB 199? That's the third one. The final one is about the EPL packages. Since AIS stopped offering EPL after May of this year, was there any negative impact on the mobile and fixed broadband ARPU in the second quarter? Thank you.
I think integration will largely finish by this year. I think there is still some portion that's going to continue for a year or so around the network and all that, but majority part will be finished this year. After that, yeah, we really want to push for more growth on the revenue side and also the subs. We'll see. I think there will be more products coming out. If you notice, we haven't really launched any new products since the start of this year, and partly because we need to spend more time on the migration. After that, hopefully we can pick up more speed. On admin, maybe quickly, there was some of the reversal on some of the restructuring costs that we accrued before. Some involve people, some other restructure costs that we planned.
In the end, we didn't execute, so we reversed that, and that's why it's lower the admin for non-IT for this quarter.
For the PLAY ALL packages, when we compare with the previous vertical package of a particular sport you mentioned about, the golf, the NBA, maybe the NFL, which slightly higher price comparing to PLAY ALL. We like to address this. As I answered earlier, the package work to a certain extent for the customer group. We truly believe with the right price point, we can expand the markets as big as possible for the addressable market. The whole attempt from us is to come up with the best price packages and bring to the much mass markets as big as possible to answer the customer needs instead of customer go out for the piracies. With this particular very attractive pricing of THB 299/THB 199, definitely the ARPU per one who used to pay THB 499 will be lower.
We do not worry at all, because we believe that the number of subscribers who will hop onto a value package will be many fold more. That's what we aim for, and we are pacing through that. Lastly, on EPL packages and ARPU, there will be slightly small impact for a particular persons who pay through us before with the past seasons. But not a very big because some of those package are net revenue, some of those package are gross revenue. So at the end of the day, there is just slightly small impact.
Okay, may I have one follow-up question for Khun Tee regarding the admin cost? Since there was a reversal of expense in the second quarter, that means this is a low base, right? And the third quarter and fourth quarter should be higher than this when it comes to the admin expense trend.
Yeah. It should be the normal rate. Yeah.
Okay. Thank you.
Other, please.
Hi. Thanks for the opportunity. Three questions from me, please. Firstly, can I clarify the trends on enterprise? We've seen a big jump Qo Q. Should we see this as the baseline level, or should this be volatile depending on contract completions? Second question I had is with regard to the cost increases in the second half, which I understand is quite understandable given the cost pressures. I'm just wondering what your thoughts are on mobile and broadband industry pricing. Is there room for you to start raising prices to offset the cost pressures, or is this unlikely? Third question I had is with regard to these new content packages on sports. It seems like it's very aggressive in pricing. Would it be profitable on a standalone basis, or is this a loss leader strategy wherein the content is meant to drive subscribers? Thank you.
For the enterprise, right? I believe that as we see the buying signal more from customer actually is this delay from the first quarter and second quarter. We think that it will get better. However, it depends on the situations on the hardware and IT equipment as well. That one is quite worry from the customer point of view because they tend to delay for the purchasing. If the situation gets better, I think these things will recover. That's the thing. Yep.
Sorry, I didn't quite understand that. It is lumpy in nature. It depends on the availability of the equipment. Is that how I should view this?
Yeah. The equipment is about the equipment or IT hardware is a shortage in the market, and the prices swing and the vendor cannot stand for the price as it was. For example, the vendor or the hardware seller can put the price for two weeks, and then they reduce to just only one week or a few days. The price is quite swing. It makes the budget of the customer or impact for the purchasing decisions, I think.
Let me address your question regarding the higher cost in energy and some of the electronic hardware or related. At our scale, we try very hard to make sure that with our scale and optimization, we want to continue to maintain the cost per unit or if not, having a lower cost per unit so we can continue to provide the best price for the customer. As the consumption grow, we aim to gain, continue on slightly higher ARPU as the consumption per sub grow as well. Once again, we are not going to directly trying to increase the price just to cover the cost. We try at best to use our scale to bring the best product, and price position for customer .
For last question regarding the content, we aim to achieve profitability by itself, not as subsidies. The price point and the combination of offering is a lot to do with bringing in the best package for the larger markets rather than subsidize.
Understood. Thank you very much.
Thank you. We have Khun [Pisut].
Thanks for the second round. I have three follow-up questions. My first question is about your-
Can you speak louder please ?
Yes. Is this better?
Yes .
Okay. My first question is about your investment cycle. Your CapEx for the full year stay about 14%-15% of revenue, whereas your competitor is around 10%. What should we expect this investment to contribute to your financial metrics in the near and medium term? Does this high investment limit your chance of increasing the dividend payout?
[Non-English content]
Yes. Okay. Speak a bit louder. Okay. It's about your investment cycle. The CapEx is about 14%-15% of sales. Your competitor is around 10%. What should we expect the investment to contribute to your financial metrics in the near term and medium term? Does this high investment limit your chance of increasing the dividend payout to 100% of net profit? My second question is about your JV investment. Your share of profit was around THB 300 million a quarter, mainly from 3BB IF. With your new investment, how much loss initially could this JV generate before offsetting the profit from 3BB IF? When do you expect that to happen? My last question is about your guidance. Sorry for obsessing these questions.
Your EBITDA grew 8% in the first half. You kept your full year EBITDA growth guidance at only to 4%. Does this mean you expect EBITDA to decline in the second half? What are the main assumptions behind this guidance? Thank you.
Let me address the first one. The major aim for AIS to make sure that we have the best infrastructure network as well as the fundamental technology to support the services for the network as well as to grow the business. The CapEx to revenue would be running around in average, should be not beyond 15%. That's roughly the thing. Depending on the cycle, for the past few years, some years we are 10%- 11%. Some doing the early rollout or the coverage may be slightly more. I think the competition, when you look at some point in time, depending on where their cycles are or what decision they're going to make. For us, it would be running in average around 15%, not beyond. I think that's the first one. I don't think going to limit dividend payout.
My second question is about the share profit that you have. Will this sufficient to buffer the initial losses from the virtual bank-
Yeah.
-the data centers?
Yeah. The THB 300 million may not be enough, but the contribution, whatever positive or negative for the next two years will be insignificant compared to the profit we're making right now.
The last question is about the guidance that EBITDA contractions for the second half. This is what you are trying to say?
Yeah. Okay. I know that the first half, the performance is really, really good. We do hope it's going to continue. Okay? It's just that when we factor some of the uncertainties, we're looking at some of the worst case. If that worst case happen, we want to make sure we still deliver. Plus the second half, as mentioned, we try to ramp up some of the spending. We did not think we're going to spend on something that's not productive long term, right? Everything that we spend, we do feel that it's going to create more competitiveness for us longer term. That's why I think we keep the guidance around there. I know that everyone will feel it's really low. It flattish compared to last year so that we hit that top range. It seem, yeah, too low. We do acknowledge that.
As you know us, we always want to be right? Right meaning, if we are wrong, then it should be a good wrong, not a bad wrong. Yeah.
Okay. Thank you.
We have the second round from [Khun Vasu], Maybank.
Thank you. I have only one question left. The question is about the interest-bearing debt. In the second quarter, the interest-bearing debt rose QoQ due to the special dividend in April. With the special dividend payment already behind us, should we expect the interest-bearing debt to drop in Q3 and Q4 going forward?
There could be some small decline, but I think overall the major chunk, it's on the long term with, I think, the repayment schedule. That's something we'll have to work around that. If we do come out with extra performance and all that, if we can, we reduce the debt load, because we still have some short term that we use. Apart from that, the major long-term part will be as per the repayment schedule.
Thank you.
We have last one from [Piyush], please.
Hi. I have one question on your data center JVs. Could you tell how is the progress? Is the capacity already pre-sold on the upcoming data centers? Do you also have any plans to do GPU as a service, as one of your JV partner has been doing?
Okay. Maybe I address this one, [Piyush]. The data centers that we has been investing for the past period was about three of them. The first one has been in operation since earlier the year. The second and third one are coming later. I think first half of next year and second half of next year, if I'm not mistaken. They are in plan. I think it's going according to the plan. As you know, many of the demand, in fact, more than what t he current capacity can serve. Everyone wants capacity fast, especially during this period. We are actually on the right trajectories. The second question regarding as-a-service. AIS has been providing cloud, and collaborating with the provider to bring in GPU. Many of those are serving internal customer, and also serving external customer as well.
Just to clarify, you are not looking to do the capital expenditure to buy GPUs yourself and provide it as a service. You will work on a partnership model over here?
It would be a mixed model. We actually bought some, using internal, and also doing a service for related team members already. I think the model you asked about may not be in the direction whereby we invest huge amount of GPU, just to hold for GPU as a service. We are not going to that directions. We want to make sure on the cloud and cloud plus AI, that the capability and the services is there for customer that we have arranged.
Got it. Thank you.
We have Khun [Supachai] from Yuanta.
[Non-English content ]. Just one question from me . [Khun Sikue] trying to use the engagement strategy for the content. They try to focus on local content and to support local content and bring more engagement to create more value. It seem to me like AIS do the opposite one. AIS try to acquire the support content and do the opposite way. What is your thought on your competitor strategy, and why do you choose to pursue this path? What is the different outcome that you think you could expect from your strategy and your competitor ?
Regarding the engagement strategy of [Khun Sikue] local content, we do have a very high respect for the decision our competitor are pursuing. In the area of content consumer, there are vast variety of contents that AIS are pursuing to make sure that we answers the customer needs as much as possible, or in the other words, captures the demand in consuming content. AIS, we may not be advertising a lot regarding the entertainments. As you may know, we probably been the most comprehensive entertainment contents, aggregating as packages, providing for customer, ranging from probably well-known of international, Disney, HBO, inclusive of Netflix as well. In there is also oneD, which is a whole bunch of local drama and program as a part of it. A full fresh of entertainment content as many as possible to answers the customer needs.
At the same time, we are expanding to sports, especially international sport of which is not easy to bring to Thailand. Those piece we are expanding and put together the packages and the offering so the mass market can reach out and adopt it in the very easy manners. The answer is, no, we are not pursuing on a pure One Direction content. We bring in the most for the customer, as many as possible top quality content. Once again, we do respect a lot with our competitors to pursue deeply on local content .
[Non-English content]
We have two more question from Khun [Wetid], KGI, from the chat box. First question is, can we expect an impressive SG&A in second quarter to be a new norm of AIS? What would be the trend for the third and fourth quarter? This one is already addressed by Khun Tee. This is actually one time expense that we are doing restructuring, so there was a reversal of the accrual. The trend in the third and fourth quarter. As we guided in the EBITDA guidance, we expect higher expense level in the second half of the year. The SG&A will go back upward, in line with the CapEx and expenditure that we plan for the long term. The second one is, how about the trend of enterprise revenue in the third quarter vs the second half?
This one Kun Phupa has already addressed, that we actually aim for high- single digit for the full year enterprise revenue. This is subject to the geopolitical situation and also the price of the equipments. We already addressed Khun Wetid, who wrote to us already. Now we have three minutes left. I'm going to count one to five. One, five. Okay. This is the end of our conference call, and I would like to invite you guys before we close, that we remind you about our upcoming AIS Investor Day. The event will be held in the morning of the 11th of August at AIS Siam, not at our office. This is our flagship lifestyle hub in the heart of Siam Square.
Those who haven't registered, please do so with our IR team, and those who want to watch online, please kindly write to us and register. We look forward to welcome you there. Thank you very much, and see you again next quarter on conference call.