G-Able Public Company Limited (SET: GABLE) has announced its Q3/2024 business performance, showing continued strength and growth. The Company reported revenue from sales and services of Baht 1,383 million, marking an increase of 3% compared to Q3/2023. Gross profit reached Baht 275 million, similar to the same period last year. The sales backlog stood at a robust Baht 5,321 million, up by 6% from the previous quarter and by 35% from the same quarter last year, supporting future revenue recognition. GABLE posted a net profit of Baht 56 million for the quarter, a decline of 16% compared to the same period last year. Excluding other expenses and income, GABLE’s core operating profit remained close to the previous year’s levels.
Dr. Chaiyuth Chunnahacha, Chief Executive Officer of G-Able Public Company Limited (GABLE), revealed that GABLE’s Q3/2024 performance remains satisfactory, with revenue and backlog growing compared to the same quarter last year. GABLE continues its business expansion strategy by acquiring a 75% stake in Round 2 Solutions Co., Ltd. on August 1, 2024, to advance its strategic plan of becoming a leading smart business application provider in Thailand. This direction leverages strengths in digitalization-related consulting services and world-class software technology innovations, offering end-to-end ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) solutions to meet the strategic needs of corporate clients across various industrial sectors.
Ms. Raveeratana Satchavarodom, Chief Finance & Strategy Officer of G-Able Public Company Limited (GABLE), highlighted GABLE’s Q3/2024 financial results, with revenue from sales and services amounting to Baht 1,383 million, an increase of 3% from the same quarter last year. Gross profit reached Baht 275 million, similar to the same period last year, and net profit for the quarter was Baht 56 million, down by 16% from the same quarter last year. Excluding other expenses and income, GABLE’s core operating profit was close to the previous year’s levels. The Group reported strong levels of backlog and sales. At the end of Q3/2024, the Group maintained a solid backlog, with sales awaiting recognition totaling Baht 5,321 million, an increase of 6% from the previous quarter and 35% from the same quarter last year, supporting future revenue recognition. The Group expects to recognize backlog revenue of Baht 1,334 million in 2024, representing 80-90% of the revenue target for the remaining period of the year.
GABLE’s continuous profitability and financial discipline are reflected in its low interest-bearing debt-to-equity ratio, which dropped to 0.09 from 0.58 in the previous quarter, and its strong cash flow of over Baht 800 million, which is set to support future growth.
GABLE has achieved the highest rating of 5 stars, or “Excellent,” in corporate governance (CG) scoring for 2024 from the Corporate Governance Report of Thai Listed Companies 2024 (CGR), conducted by the Thai Institute of Directors (IOD) with support from the Stock Exchange of Thailand (SET) and the Office of the Securities and Exchange Commission (SEC). This evaluation covers five main criteria: shareholder rights, equitable treatment of shareholders, stakeholder roles, information disclosure transparency, and board responsibilities.
“In addition, GABLE scored 99 points in the AGM Checklist, part of the quality assessment program for annual general meetings of listed companies conducted by the Thai Investors Association (TIA) and the Federation of Thai Capital Market Organizations (FETCO). This program emphasizes equitable treatment of shareholders, including comprehensive Thai and English information on the website, suitable meeting times, and dedicated participation by board members and executives in shareholder meetings.
This commitment to corporate governance and sustainable ESG-driven management reflects GABLE’s vision of accountability to all stakeholders and builds investor confidence. “The Company will use these assessment results as a guideline for corporate governance development to foster stable and sustainable growth,” concluded Dr. Chaiyuth.
