SKY ICT reports H1’22 net profit of 165 million baht or 575% YoY increase. The second half of 2022 will be strong as the number of tourists soared. Build a big alliance project for high season.
SKY ICT unveiled H1 2022 results of THB 1,272 million and achieved a net profit of THB 165 million, growing by 575% YoY, showing a backlog of THB 23 billion, gradually recognizing revenue continuously. The company announced to prepare its business to accelerate the expansion of the tech ecosystem to enhance expertise reiterating the mission to become a Tech Company. Reveal that the second half of 2022 is projected to keep growing continuously as the number of passengers will increase by 1.6 hundred thousand per day, driving revenue from projects related to airport services. Moreover, preparing to release a big project for the high season and joining with various alliances to upgrade SAWASDEE by AOT to become a Thai Travel Super App, a companion for travelers.
Mr. Sithidej Mayalarp, Chief Executive Officer of SKY ICT Public Company Limited or SKY, the leading provider of Digital Platform and AI-Empowered Solution services in Thailand, disclosed the operating results for Q2/22, with registered a total revenue of THB 804 million. As a consequence, total revenue for H1/22 was THB 1,272 million, attributed to profit for the period reaching THB 165 million, an increase of 575% y-o-y. The company has invested in subsidiaries and other potential companies. As a result, the company’s net profit has grown significantly.
“We continue to expand SKY ICT’s Tech Ecosystem by joining forces with technology partners. Especially in terms of technological and safety infrastructure to make SKY ICT become a Tech Company with outstanding potential. Ready to support all advances in technology, this will create the company’s growth by leaps and bounds,” said Mr. Sithidej
The company ended the quarter with a record Q2 backlog of THB 23 billion. In the second half of 2022, it is expected to have revenue from work awaiting delivery of many government projects. For example, The Common Use Passenger Processing System (CUPPS) and Advance Passenger Inspection and Screening System (APPS), combined with the projects, will continue to increase the company’s revenue from new contracts and generate significant growth for the company by at least 20%.
Mr. Sithidej added that the company’s operating situation in the second half of 2022 is likely to improve continuously. Regarding the trend of Thai tourism that is becoming active again after the opening borders, because of information from Airports of Thailand Public Company Limited (AOT) stated that the number of passengers in the first half of the year increased every month. In 4Q/22, average passenger traffic is expected to exceed 160,000 passengers per day, resulting in SKY ICT projects related to air travel and revenue recognition based on the number of inbound-outbound passengers. For example, the Passenger Advance Inspection and Screening System (APPS) and Passenger Name Record (PNR) (PNR) will have the opportunity to recognize higher revenues compared to the previous year.
While the company continues to follow the CONNECTING THAILAND plan, connecting modern technology with people’s lives, and connecting the tech ecosystem of Thailand to be ready to move forward continuously into the future. This time, the company has adopted its strategy of Advanced Tech, integrating various technologies to work together. To raise the level of tourism in Thailand and support the return of many tourists at the end of the year by joining forces with Thai national partners from various businesses. It will strengthen the application “SAWASDEE by AOT”, ready to become a Thai Travel Super App, a travel companion with important features to support all needs throughout the journey, which prepares to reveal the official details within October.
SKY ICT Public Company Limited or SKY, a full-fledged Tech Company that focuses on innovation development. Providing Digital Platform and AI-Empowered Solution services to customers in a full range to help improve the quality of life of people in society with SKY’s smart technology.