SISB Public Company Limited (SET: SISB) has announced its financial performance for the second quarter ended 30 June 2025, reporting significant increases in both revenue and net profit compared to the previous year.
The company recorded total revenue of THB 623.14 million for Q2 2025, marking a 9.47% increase from THB 569.22 million in Q2 2024. This growth was primarily driven by a higher number of students, both Thai and foreign, as well as increased tuition fees for the Academic Year 2024/2025. Net profit for the quarter reached THB 223.76 million, up 6.69% from THB 209.73 million in the same period last year. However, the net profit margin edged down from 36.85% to 35.91%.
A breakdown of revenue shows tuition fees and service income as the main driver, rising 9.44% to THB 608.31 million. This was supported by a student headcount increase from 3,959 to 4,203 (excluding Singapore International School Chiang Mai) and an average tuition fee increase of 3.03% per student. Application and enrollment fees also contributed to the growth.
On the cost side, total costs and expenses grew 11.91% to THB 405.12 million. Tuition and service costs rose 12.32% to THB 277.34 million, largely due to adjustments in academic staff remuneration and an increase in academic staff numbers, which lowered the student-to-teacher ratio. Administrative expenses climbed 11.02% to THB 127.78 million, reflecting a rise in overall staff numbers. The slight decline in net profit margin was also linked to higher depreciation from new constructions—such as Thonburi School (Phase 3.1) and Prachauthit School (Phase 3)—alongside increased finance costs related to right-of-use assets.
Other income, mainly from advisory and management fees, rose 18.52%, while the company’s share of profit from joint ventures increased by 18%. Looking ahead, SISB has revised its 2025 student target to 4,700 across six campuses, slightly below its original goal, citing the global economic slowdown. Strategic expansion plans remain on track, with a new Bangkok phase scheduled to open in Q1 2026 and a seventh school in Pathum Thani planned for Q3 2027.