G-Able Public Company Limited, a leading “Tech Enabler” that helps businesses embrace every aspect of the digital era, has revealed its 2024 business strategy, focusing on developing digital solutions and capabilities while enhancing businesses’ readiness to address various challenges on the path to becoming AI-ready organizations. GABLE plans to expand its Business Application segment through global HCM partnerships, offering full-suite digital solutions across five portfolios to meet business needs. This expansion aligns with the core strategy of “Sustain = Smart + Secure,” enabling clients’ businesses to navigate the AI-First era towards sustainable success.
Dr. Chaiyuth Chunnahacha, CEO of G-Able Public Company Limited, stated, “As a SET-listed digital tech giant equipped with technologies and capital, our main aim is to tap into our modern and smart technologies and digital solutions to serve future business needs, secure organizational data, increase profitability, and ensure sustainable growth of our clients in the AI-First era, in alignment with the strategy of ‘Sustain = Smart + Secure.'”
In 2023, GABLE achieved huge success in its initial public offering and SET-listing as G-Able Public Company Limited. This has enhanced its readiness in terms of its capital for investment in its capacity and capabilities in line with its plan to drive strong and sustainable growth. GABLE’s own software platform has served as a key growth engine propelling the Group’s solid business expansion across many segments. The five affiliated companies have been key in generating the Group’s income, using its Value-Added Distribution to further its growth. The Group’s recurring income exceeded one half of the total income, and its backlog portion climbed up to an unprecedented level of over Baht 4.5 billion.
With its extensive experience of over 35 years in helping businesses gain a competitive edge through technologies, GABLE has seen opportunities to steer its growth by capitalizing on the AI trend that plays an increasingly important role in organizations. All businesses need to develop their systems to become AI-ready organizations. In doing so, Cloud-based IT infrastructures, data analytics systems through big data platforms, and 24-hour cybersecurity systems should be established to ensure that front-office and back-office systems are ready to work synchronously with AI in the future.
Apart from the AI trend that is bringing more growth opportunities for GABLE, building ‘Smart Organizations’ through business applications such as human capital management software is another key growth driver because one crucial asset of an organization is “human.” According to Gartner, the HCM market is expected to see an average growth rate over the next three years at 18%. As organizations need to improve their competitiveness through building up a pool of talents, software platforms can help them do so through the use of big data and AI in talent analytics, skill management, and productivity and efficiency enhancement of employees across sections.
GABLE’s 2024 strategy is originated from the adoption of the concept of “Smart + Secure” to ensure clients’ business sustainability. This consists of the following 3 main guidelines:
- To integrate GABLE’s Enterprise Solutions and Services core business comprising 5 portfolios, namely Data Analytics, Cloud, Cybersecurity, Application Development, and Managed Tech Services, with its IP platforms to support the preparation of AI-ready data and AI-ready security, as higher demands for AI and cybersecurity will boost GABLE’s growth.
- To expand the Group’s capabilities through potential business applications in HCM and ERP through partnering with global entities with expertise across various fields and selecting other interesting smart business applications to provide continued support for its clients.
- To focus on investment in businesses that are aligned with GABLE’s business concept to secure more opportunities and satisfying rates of return; and to gain competitive edge by using its funds from its IPO worth around Baht 600 million to propel business growth under the investment framework covering three main areas: Right Product, Right Technology; Win-Win business Synergy; and Right Price, Right Value.
Ms. Raveeratana Satchavarodom, Chief Finance & Strategy Officer of G-Able Public Company Limited stated that in 2023, GABLE’s operating income reached Baht 5,338 million, 13% up from 2022. Despite external factors and fluctuations at macro and industrial levels leading to stronger competition, GABLE was able to navigate these challenges, achieving steadfast expansion and double-digit growth rates in income across all segments, including Enterprise Solution, Valued Added Distribution, and Software Platform, from its clients.
Moreover, after its IPO, GABLE was able to generate a gross profit of Baht 1,099 million in 2023, growing 10% year-on-year, or a gross profit margin of 21%, about the same level as last year.
GABLE’s net profit for 2023 stayed at Baht 253 million, and the backlog portion reached an all-time high at Baht 4,544 million, up 16% from Q3 of 2023, ready to support future income recognition. The backlog level is set to support future income generation in 2024 of over Baht 2,753 million, accounting for nearly one-half of the target income in 2024. Furthermore, the Company’s opportunities to further grow its business come from the accelerated demand for the creation of AI-ready organizations, the need to set up data analytics and cybersecurity, its partnerships in developing business applications, and inorganic investment through M&As.
By adopting the strategy of “Sustain = Smart + Secure,” in 2024 GABLE will continue to operate its business based on the 3 guidelines, namely Smart Finance, Secure Finance, and Sustain Finance. Smart Finance is to create more financial returns from organic investment and inorganic investment. Secure Finance is to maintain financial discipline through secure operations and secure investment, focusing on sustainable investment within the so-called Investment Framework to ensure secure and sustainable business growth in the long term. And Sustain Finance is to establish sustainable financial growth, including mitigating risks to be within acceptable levels.
The above strategy will lead to GABLE’s growing backlog and its move towards reaching another all-time high this year at around Baht 4.5-5.5 billion. GABLE will expectedly continue to maintain its gross profit margin at 20-22% with its recurring income of more than 50% of the total income, to support risk management for investors. With its sound financial discipline and available capital of more than Baht 600 million from the IPO along with its capacity and capabilities, GABLE is ready to grow further in line with the upcoming trend in 2024.
