SKY ICT Public Company Limited (SET: SKY) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
112.69 | 123.22 |
| Earning Per Share (Baht) |
0.1600 | 0.1700 |
| % Change | -8.54 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
336.79 | 324.34 |
| Earning Per Share (Baht) | 0.1700 | 0.4700 |
| % Change | 3.84 | |
The company ported total revenue of 1,715 million baht in Q3/2024, an increase of 631 million baht or 58.2% compared to the same quarter last year. The primary reason for this growth is the consolidation of revenue from The Siam Administrative Management Co., Ltd. (“SAMCO”), in which Metthier Co., Ltd., a subsidiary of the Company, acquired a 100% investment on September 19, 2023. Additionally, the recovery in the tourism sector also contributed to an increase in service revenue compared to the same quarter last year. Additionally, the Group invested in OTP during Q3/2024 on August 30, 2024, allowing OTP’s revenue to be consolidated and presented in the Group’s financial statements for Q3/2024 for the first time. However, the profit margins of SAMCO and OTP are not as high compared to other businesses within the Group. Additionally, the Group incurred higher selling and administrative expenses from SAMCO due to business expansion. As a result, the Group’s net profit for Q3/2024 decreased by 17 million baht, or 13.3% YoY to record at 112 million baht.
Revenue from system integration services in Q3/2024 amounted to 330 million baht, accounting for approximately 19.3% of total revenue. This represents an increase of 37 million baht, or 12.6%, compared to the same quarter last year. The increase was driven by the delivery and revenue recognition of higher-value projects in Q3/2024 compared to Q3/2023.
Revenue from sales in Q3/2024 amounted to 1 million baht, accounting for approximately 0.1% of total revenue. Revenue from sales is not a primary source of income for the Group, resulting in a decrease of 29 million baht, or 96.7%, compared to the same quarter last year. The decline was because, in Q3/2023, the Group had revenue from the sale of computer equipment to only a few private sector clients.
Revenue from services in Q3/2024 amounted to 1,378 million baht, accounting for approximately 80.6% of total revenue, an increase of 621 million baht, or 82.0%, compared to the same quarter last year.
Total expenses for the Group in Q3/2024 amounted to 229 million baht, an increase of 40 million baht, or 21.2%, compared to the same quarter last year. This increase was primarily due to higher expenses arising from investments made by the Group in 2023, including investments in Astro Solutions Co., Ltd. (“ASTRO”), which became a subsidiary on October 2, 2023, and SAMCO under Metthier Co., Ltd. (“METTHIER”), which the Group invested in on September 19, 2023.
In Q3/2024, the Group recognized a total share of profit from associates and joint venture of 63 million baht, an increase of 17 million baht compared to the 46 million baht recorded in the same quarter of the previous year.
