Major Cineplex (MAJOR) AGM 2026 summary

Opening remarks and agenda

• AGM scheduled for 7 April 2026; agenda covered approval of FY2025 minutes and financial statements, FY2025 performance, dividend allocation, director elections, board remuneration, auditor appointment, debenture issuance and other business.

Financial performance review

• FY2025 revenue was Bt7,631m, down 2% YoY; gross profit was Bt2,731m with a 36% margin versus 35% in FY2024.

• Core EBITDA rose 2% YoY to Bt2,240m; core net profit rose 6% to Bt631m, while reported net profit fell 15% to Bt631m, partly against a FY2024 Bt150m tax carryforward from the MPIC divestment.

• SG&A fell 3% YoY to Bt2,059m; core operating profit rose 2% to Bt828m.

• At 31 Dec 2025, assets were Bt12,739m, liabilities Bt7,813m and equity Bt4,926m; net debt/equity was 0.46x versus a 1.5x debt covenant excluding lease liabilities.

• Revenue trends varied: advertising fell 17% YoY and movie content 14%, while cinema revenue was down 0.3%; bowling and retail each rose 3%.

Board and executive committee updates

• Three directors due to retire by rotation were proposed for re-election: Kraitip Krairiksh, Thanakorn Pulivekin and Chai Jarungthanapibal; the nomination committee cited their experience and performance.

• Krairiksh was proposed to continue as chair and independent director; Pulivekin as director and executive director; Jarungthanapibal as independent director and audit committee chair.