- SKY Group Achieves New High Record with Nine–Month Revenue Surpassing 4.73 Billion Baht
- Marking a 66% Robust Growth; Confident in Sustained Business Momentum as Year–End Approaches
- Showcases Full Biometric System to Serve Tourists During Peak Season
SKY Group has reported an outstanding financial performance for the first nine months of 2024, with total revenue reaching 4.73 billion baht, representing a significant 66% year–over–year (YOY) growth. The company achieved a net profit of 331 million baht, driven by the robust recovery of the tourism sector and a substantial increase in airport passenger traffic. Following this success, SKY Group is set to fully roll out its biometric system to accommodate the high volume of tourists expected during the upcoming peak season. The company’s strong project backlog of 23 billion baht reinforces its long–term growth prospects.
Mr. Sithidej Mayalarp, CEO of SKY ICT Public Company Limited or SKY Group, highlighted that the company’s performance for the first nine months of 2024 (January-September) showcased total revenue of 4.73 billion baht, marking a 66% increase compared to the same period last year (YOY). The net profit for this period stood at 331 million baht. Specifically, in the third quarter of 2024 (July-September), the company posted total revenue of 1.715 billion baht, with a net profit of 111 million baht, reflecting an impressive 58% YOY growth.
SKY Group achieved significant business growth in the first nine months of 2024, showcasing a continued upward trajectory. This performance was primarily driven by the full recovery of the tourism market. Last year, Thailand welcomed approximately 100 million inbound and outbound travelers while this year the number is expected to increase by an additional 20%. This surge has contributed to substantial revenue from airport-related projects, which remain a core revenue stream for the company. Furthermore, SKY Group benefited from revenue recognition from subsidiaries, including Metthier Co., Ltd. and Pro Inside Public Company Limited, as well as strategic investments in high-potential companies such as One To One Professional Co., Ltd. (OTP), resulting in significant overall revenue growth.
Mr. Sithidej, stated that as of the end of Q3/2024, the company secured new contracts and maintained a project backlog of approximately 23 billion baht, set to be realized over the next 6-7 years. This backlog forms a solid foundation for sustainable long-term growth. In addition, SKY Group continues to seek investment opportunities in high-potential businesses that leverage technology, aiming to expand its client base across public and private sectors. These strategic moves are expected to bolster the company’s long-term strength and stability. As a result, SKY Group remains confident in achieving stable growth for the full year.
