Mr. Sithidej Mayalarp, CEO of SKY ICT Public Company Limited (SET: SKY), revealed that the company will enhance its technology to support the businesses for sustainable growth, while revenue income looks stable with more than 20 billion baht of backlog.
SKY reported strong revenue and net profit in the first quarter of 2025, reaching THB 2.384 billion (72% YoY increase) and THB 205 million (86% YoY increase), respectively.
The company’s overall growth rate is primarily supported by new project development, system integration services (SI) that aligns with government economic stimulus, and the expansion of security management service and Metthier Company Limited’s real estate smart management, which saw significant growth from the same period last year.
Furthermore, the tourism industry is recovering despite the low Chinese tourists. This is supported by the increase of overall foreign tourists, supporting revenue of service business related to airline business, like the common use passenger processing systems (CUPPS) and the advanced passenger processing systems (APPS). Their growing rates continue to rise.
SKY also included the revenue of One to One Professional Company Limited (now known as SKY CC Company Limited) and the investment of subsidiaries and other potential companies into the full quarter financial statement. This combination has pushed SKY’s revenue and net profit significantly.
As for the plan for 2Q25, besides the ongoing development and creativity of aviation tech on several projects related to the airport, SKY aims to strengthen the organization by using various business operation models and revenue structures that cover long term concession, recurring revenue, and project based revenue to diversify the risk.
SKY also prepares to create a strong and sustainable income base and business structure to support the growth expansion of each business for further clarity. For example, its service that uses technology to assist the real estimate customer service is using Smart Facility Management through Metthier Company Limited.
Moreover, SKY’s contact center service is also using a large language model (LLM) and AI to increase its competitive capability through the investment in SKY CC. Meanwhile, its information and communication technology – system integration service (ICT – SI) is done by Pro Inside Public Company Limited (mai: PIS).
Mr. Sithidej added that at the end of 1Q25, SKY signed new agreements and has several backlogs totaling THB 22.01 billion, which will be gradually recognized in six to seven years. This lays a foundation that supports long term sustainable growth.
SKY is also looking for investment opportunities in potential business and continue preparing in both technology and personal to be ready for new potential and challenge. This readiness is to expand and fortify the customer base, both from government and private sector, and guarantee that this year, SKY can maintain its strong and sustainable growth.
