“SKY Group” Reports Q1/2023 Strong Performance, Booming Thai Tourism with A Significant Revenue Surge Of 820 Million, A Strong Growth Of 75%. Enhance Its Organization to Become A Beyond Tech Company, Supporting Long-Term Growth.
SKY Group reported Q1/23 strong performance with a revenue of 820 million baht, a robust growth of 75%. Net profit reached 83 million baht, driven by a surge in inbound and outbound passenger traffic after the tourism and aviation industries recovered. Showcasing a staggering backlog of 22.9 billion baht, the company is confident in its Aviation Tech capabilities and poised to move forward with continuous business expansion into new businesses as a Beyond Tech Company to create a strong future.
Mr. Sithidej Mayalarp, CEO of SKY ICT Public Company Limited or SKY Group, revealed that the company achieved a revenue of 820 million baht in the first quarter of 2023 (Jan-Mar 2023), marking a remarkable growth of 75% (YoY). The net profit reached 83 million baht, reflecting a satisfactory operational performance. One of the key factors behind the company’s strong growth is the revenue generated from projects related to airport services, such as the Common Use Passenger Processing System (CUPPS) and the Advance Passenger Processing System (APPS), which expanded as the aviation and tourism industry in Thailand recovered. The increase in international tourists to Thailand has contributed to the company’s success.
At the end of Q1/2023, the company has a backlog of 22.9 billion baht. It is expected that at least 2.5 billion baht of this backlog will be recognized within this year, contributing to the company’s strong growth.
“SKY Group has consistently invested in research and development of Aviation Tech for the past three years. This has allowed us to foster growth even in the face of challenges posed by COVID-19, as seen by the expansion of SKY Group and the companies we have invested in. We believe that from this point forward, the global tourism and aviation industry will continue to grow without ceasing. This makes Aviation Tech one of the crucial pillars of the country,” said Mr. Sithidej.
Sithidej added that in the Q2/2023 operational plan, SKY Group will continue to focus on developing and innovating new technologies in Aviation Tech to enhance the efficiency and capacity of airport services, enabling airports to accommodate the influx of tourists throughout the year. It will further strengthen the company for the future.
Moreover, SKY Group has plans to elevate its organizational structure to become a “Beyond Tech Company”, aiming to transform the company into more than just a technology developer and introduce subsidiary companies to expand its business. This will reinforce the company’s long-term stability and align with the vision of Connecting Thailand by establishing a robust technological infrastructure in the country. It will also embrace advancements in global technology to foster innovation and develop a skilled workforce to bolster the Tech Ecosystem. This will drive Thailand to be ready for every change in the world. Further details are expected to be announced soon.
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About SKY ICT Public Company Limited
SKY ICT Public Company Limited or SKY is a leading technology service provider in Thailand specializing in technology related to aviation, smart security, and digital platforms. The company is moving forward to provide new solutions that correspond with the expansion of the aviation industry. We are ready to help deliver the best travel experience to passengers and elevate their quality of life through services like systems integration, application development, security systems deployment, and passenger facilitation.