SKY Group has reported significant growth in its Q1/2024 financial results, showcasing a revenue increase of 68% year–over–year, reaching 1.379 billion baht. The net profit for the quarter was 117 million baht, reflecting a 40% increase compared to the same period last year. This growth is largely attributed to the recovery in the tourism sector, boosting revenue from aviation tech and airport services projects. The company’s strong performance reflects a solid backlog of 22 billion baht, with plans to expand and streamline business operations to ensure future growth and stability.
Mr. Sithidej Mayalarp, CEO of SKY ICT Public Company Limited or SKY Group, stated that the company achieved a revenue of 1.379 billion baht and a net profit of 117 million baht in Q1/2024, marking a growth of 68% and 40%, respectively, compared to the same quarter of the previous year (YoY). The continuous growth is driven by the recovery of the tourism sector, which has led to a 22.84% increase in passenger numbers compared to Q1/2023. This surge has positively impacted the company’s aviation-related projects, such as the Common Use Passenger Processing System (CUPPS) and the Advanced Passenger Processing System (APPS), driving consistent revenue growth.
Mr. Sithidej further stated that for Q2/2024, SKY Group will continue its focus on developing and innovating aviation technology projects, as well as expanding its business structure to support the growth of each business segment. Metthier Company Limited will focus on smart facility management for medium to large-scale projects, enhancing efficiency in security and cleaning management. Pro Inside Public Company Limited will handle government IT solution projects, preparing for an IPO of 140 million shares, aiming to raise funds by the end of the year.
As of Q1/2024, SKY Group has secured new contracts and has a robust backlog worth approximately 22 billion baht, expected to generate revenue over the next 6-7 years.
“SKY Group is continuously seeking new investment opportunities in high-potential businesses, enhancing our technology and workforce to meet new challenges and opportunities. We are confident that our company will continue to grow steadily in the future,” said Mr. Sithidej.
About SKY ICT Public Company Limited (SKY)
SKY is a leading technology service provider in Thailand, specializing in aviation technology, intelligent security, and digital platforms. The company is committed to delivering innovative solutions that enhance the aviation industry, improve quality of life, and provide superior travel experiences for passengers through integrated systems, applications, security, and airport facilitation services.