Nation Group posts strong Q2 recovery amid MediaTech shift

Nation Group (Thailand) Plc and its subsidiaries returned to profit in the second quarter of 2026, reporting net profit of 16.50 million baht after two years of restructuring, cost reductions and efforts to expand digital and technology-driven revenue.

The result represented a 134% year-on-year improvement from a net loss of 47.99 million baht in the same period last year.

Second-quarter revenue rose 4% to 250.89 million baht. Revenue from services and sales increased 5% as the company expanded its customer base, while online media revenue grew 7% and revenue from events climbed 33%.

For the first six months of 2026, total revenue reached 450.36 million baht, up 4% from a year earlier. The company remained in the red with a net loss of 21.04 million baht, but the loss narrowed 84% from 132.55 million baht in the same period last year.

Most of the first-half loss was incurred in the first quarter before the business returned to profit in the April-June period.

Digital growth and lower costs support turnaround

Online media revenue increased 21% in the first half, reflecting Nation Group’s shift away from traditional media towards digital media and higher-value services.

Costs of sales and total expenses fell 18% in the second quarter to 227.76 million baht. For the first six months, they declined 16% to 459.61 million baht.

The company attributed the reductions to more efficient use of internal resources and greater use of technology and artificial intelligence to improve workflows and lower expenses.

As of June 30, Nation Group had total assets of 799.26 million baht, up 1% from the end of 2025, partly due to receivables from major customers and government projects.

Total liabilities increased 4% to 718.39 million baht, driven by higher trade payables and short-term borrowings. Shareholders’ equity declined 21% to 80.87 million baht because of accumulated losses during the first half.

Workforce restructuring cuts costs

Shine Bunnag, executive chairman and chief executive officer of Nation Group (Thailand) Plc, attributed the return to profit to changes in the company’s organisational structure, working processes and business model.

Over more than two years, Nation Group has sought to make its operations more agile while incorporating technology and AI to improve efficiency, reduce costs and strengthen long-term competitiveness.

The restructuring included a reduction in headcount from 1,056 employees in 2023 to 778 currently.

Nation Group reduced costs by 85 million baht in the first half compared with a year earlier and expects full-year expense reductions to approach 200 million baht.

The company is also reshaping its revenue base. It has reduced its reliance on small and medium-sized enterprise customers, which have been affected by economic conditions, while expanding business with large corporations, multinational companies and government agencies with more clearly defined communications and public-relations budgets.

Nation Group has also shifted from primarily selling advertising space towards providing integrated communications services through a Creative Marketing approach tailored more closely to clients’ objectives.

It is pursuing additional government contracts through the e-Bidding system and aims to increase the proportion of revenue generated from government work by 80-100%.

Nation Group targets full MediaTech transition

The company is seeking to transform itself from a traditional media business into a MediaTech company combining its content capabilities with technology.

AI is being deployed across several areas, including data analysis, screening government tenders for potential business opportunities, and supporting newsroom and sales operations to work faster and more accurately.

“The company sees this turnaround as more than simply returning to profit. It is about laying a new foundation for Nation to become a MediaTech organisation built on three core pillars: credibility, people and technology, enabling it to compete in a rapidly changing media industry,” Shine said.

Despite the greater role of technology, the company regards AI as a tool to enhance employees’ capabilities rather than replace them.

Nation Group said journalism in particular continues to require experience, reporting from the field, fact-checking and professional ethical standards. These remain central to its “Nation Way” principles across more than 10 media brands in the group.

Following the restructuring, Nation Group is preparing to expand staffing in areas aligned with its new strategy.

More than 60 positions are planned across marketing, creative teams, sales and field reporting as the company seeks to support a larger corporate customer base and new business opportunities.