Takorn Rattanakamolporn, CEO of DITTO (THAILAND) Public Company Limited (SET: DITTO), disclosed the company’s overall performance on Opportunity Day, hosted by the Stock Exchange of Thailand (SET) on 25 November 2024, that in 9M24 the company had a net profit of THB 368 million or 36.36% increase from the same period previous year of THB 269 million. Meanwhile, total revenue surged 30% to THB 1,828 million compared to the same period last year of THB 1,409 million.
The gain is mainly attributed to revenue from the technological engineering subcontract for the first phase of Klong Hok’s new zoo, other government projects, bureaucracy, and cybersecurity services for customers in the public and private sectors.
The CEO noted that the mangrove reforestation project to generate carbon credit would encompass an area of 175,354.25 rai (280,566.80 sq. km.), segmented into local project 154,838.02 rai (247,740.83 sq. km.), and reforestation project 20,516.23 rai (32,825.96 sq. km.), of which 1,749.96 rai (2,799.93 sq. km.) was registered on Premium T-VER, and 16,521.19 rai (26,433.90 sq. km.) was registered on Standard T-VER, in total 18,271.15 rai (29,233.84 sq. km.).
After the land was registered on both Standard T-VER and Premium T-VER, DITTO would prepare a filing to SET within 4Q24 and release a carbon credit token in the ICO portal, token X, covering the mangrove forest area of 17,531.04 rai (28,049.66 sq. km.). When the token generation is complete, the company will set a price and evaluate the risk and reward, with (Validation and Verification Body) VVB acting as a verifier of the process.
The token would be used to develop and maintain the mangrove reforestation project, while also supporting the local community. For the carbon credit business, the company plans to expand the mangrove project area, or other ecosystem that revolves around the renewed and reevaluated carbon credit.
Currently, DITTO has a backlog project with a total value of THB 4,658 million, including a solution for data and document management at THB 2,075 million and technological engineering innovation at THB 2,583 million. These projects will be gradually recognized through 2027, although the contract is set to expire in 2025.
