TEAM Consulting Engineering and Management Public Company Limited (SET: TEAMG) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
154.46 | 129.27 |
| Earning Per Share (Baht) |
0.1900 | 0.1600 |
| % Change | 19.48 | |
In 2024, TEAMG achieved a net profit of THB 154.45 million, an increase of THB 25.18 million from the previous year (equivalent to 19.48% growth), marking a new all- time high profit for the Company.
The primary factors behind this growth include higher revenue and gross profit, coupled with efficient expense management, which kept administrative costs near last year’s levels, thus enabling the Company to sustain continuous profit growth.
In addition, the company has expanded its engineering services into Related Business since late 2023. This includes Engineering, Procurement, and Construction Contract (EPC) services, emphasizing the use of technology in project work to boost efficiency and modernization. The major projects undertaken in 2024 are the construction of the new zoo and the construction of the precious wood knowledge museum on the auspicious occasion of the grand coronation ceremony (the construction of the precious wood knowledge museum), reflecting the Company’s capability in managing large-scale engineering projects and representing a significant milestone in the expansion of its business scope.
Meanwhile, TEAMG’s total service revenue reached THB 1.872 billion, an increase of THB 198.43 million or 11.86% over the prior year. This growth was primarily driven by the execution of large-scale projects during the year, covering both the Company’s core businesses and its continuously expanding related business.
Throughout 2024, the Company provided services for over 550 projects, spanning multiple areas of engineering and project management and construction supervision expertise. These services can be categorized according to the Company’s core engineering proficiencies, as follows:
- Building and Infrastructure (40%): THB 746.45 million
- Water Resources (29%): THB 551.66 million
- Transportation and Logistics (22%): THB 409.54 million
- Environmental Management (4%): THB 73.35 million
- Energy and Power (4%): THB 69.96 million
- Others (1%): THB 21.14 million
TEAMG’s cost of services was THB 1.368 billion, increasing by THB 187.40 million or 15.87% from the previous year. The main reason is the cost associated with providing engineering services in the Company’s related business of Engineering, Procurement, and Construction Contract (EPC) services.
Administrative expenses were THB 342.38 million, decreasing by THB 9.17 million or 2.61%. TEAMG managed to keep these costs close to last year’s levels. Notably, administrative expenses decreased compared to the previous year because, in the previous year, the Company incurred THB 5.90 million in share-based payment expenses for employee stock awards.
