Sabuy Technology Public Company Limited (SET: SABUY) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
-2,914.56 | 179.62 |
| Earning Per Share (Baht) |
-1.7500 | 0.1000 |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
-4,875.28 | 346.56 |
| Earning Per Share (Baht) | -2.8400 | 0.2000 |
SABUY reported a net loss of THB 2,914 million in 2Q24, a significant drop from a net profit of THB 179 million in 2Q23.
For the three-month period in the second quarter, revenue was THB 1.61 billion, representing a decline of 37.5% from the same period last year. The decrease was mainly due to a sharp decline in sales of goods.
For the three-month period in the second quarter, sales revenue was THB 833.6 million, a decrease of 50.5% from the same period last year. The significant decrease was primarily due to the loss of control over the subsidiary SBNEXT, leading the company to cease consolidating SBNEXT’s financial statements into SABUY’s financial statements from May 2024 onward. SBNEXT’s business, which involves the sale of water purifiers and electrical appliances under hire-purchase agreements, represented a significant portion of SABUY’s sales revenue, resulting in a substantial decline in sales revenue compared to the previous year and the first quarter.
For the three-month period in the second quarter, the company recorded THB 1,403 million of loss from losing control on investment in subsidiaries and associates, compared to none in the second quarter of last year.
