SKY Group Reports Strong Results for H1’23

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“SKY Group” announced its outstanding performance for H1’23, showcasing robust growth. The company achieved a revenue of 1.762 billion Baht, a remarkable 39% increase, and a net profit of 203 million Baht, reflecting a growth of 26%. The strong performance was driven by the successful implementation of its airport expansion project, aligning with the resurgence of the tourism sector.


Mr. Sithidej Mayalarp, Chief Executive Officer of SKY ICT Public Company Limited or SKY Group, revealed that the company achieved a revenue of 942 million Baht for Q2’23. As a result, the company’s performance for H1’23 garnered a total revenue of 1.762 billion Baht, reflecting an impressive growth of 39% year-over-year (YOY). The net profit for the six months stands at 203 million Baht, marking a growth of approximately 26% compared to the corresponding period of the preceding year.


During the initial half of 2023, the company achieved remarkable revenue and net profit growth, propelled by the resurgence of the tourism industry and the continuous increase in international tourist arrivals and departures to and from Thailand. This growth has led to increased revenue from projects related to airport services, such as the Common Use Passenger Processing Systems (CUPPS) and the Advanced Passenger Processing System (APPS), further contributing to the company’s positive financial performance.


At the end of Q2’23, the company has a backlog of projects worth approximately 22.7 billion Baht. It is anticipated that these projects will gradually be recognized as revenue within this year, totaling around 2 billion Baht.


Mr. Sitthidej stated that according to data from the Ministry of Tourism and Sports, in the first half of the year, 12.87 million international tourists were entering the country, which is more than a fivefold increase compared to the same period last year. The projection suggests that there will be about 27.39 million international tourists throughout the entire year, adding 14 million tourists in the second half of the year, particularly during the peak High Season for Thai tourism, businesses related to Aviation Tech, and Airport Services within the company are expected to experience growth in line with the overall tourism industry.


Meanwhile, SKY Group continues to explore opportunities to expand its business in Aviation Tech and the Tech Ecosystem, leveraging its expertise. This includes smart security technology and digital platforms to ensure continuous and robust growth. Building on its past experiences, the company has also invested in subsidiaries and other potential firms, all of which contribute to ensuring definite growth for the company’s operations in the latter half of the year.




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.

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