SABUY Reports 110% Growth in 2021 Earnings from Higher Revenue and Efficient Cost Management

Sabuy Technology Public Company Limited (SET: SABUY) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;

Yearly 2021 2020
Net Profit (Loss)
Million Baht
213.61 102.06
Earning Per Share (Baht) 0.20 0.11
% Change 109.30

SABUY reported a net profit of 213 million baht in 2021, increased 109% compared to a net profit of 102 million baht in 2020. The increase in the net profit was in accordance with enhanced efficiency in cost management for administrative expenses and recognition of net profit of A.T.P. Friend Service Co., Ltd and TBSP Plc.

Sales and services revenue of the company for the 12 months of 2021 (ending 31-Dec-2021) was THB 2126.8 million, representing an increase of THB 666.0 million or 45.6% from the same period last year. This is due mainly to the service expansion of Company’s top-up machines spreading nationwide with more reach than bank branches and ATM.

The company has also recognized a revenue from the investment in subsidiary company TBSP Plc. which is a provider of plastic card and data recording services for 73.54% in the third quarter.

In addition, the company generated higher revenue from selling higher-value products such as facemasks and telephone chargers through vending machines. In the meantime, the number of new vending machines and petrol vending machines installed in factories, offices, shops, and local community areas rose steadily even though with some difficulties in refilling products into vending machines located in department stores and some factories due to traveling restrictions or closure across the nation. In this period, the number of ShipSmile branches rose six times from 750 to 4,640 branches, together with Plus Express total drop-off branches will reach 5,984.