SABUY Records Triple-Digit Earnings Growth in 1Q22

SABUY Technology Public Company Limited (SET: SABUY) announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
107.28 33.68
Earning Per Share
0.0881 0.0335
% Change 218.5

SABUY reported net profit for 1Q22 (ending 31 Mar 2022) of THB107.3 million, an increase of THB73.6 million or 218.5% from the same period last year and an increase of THB30.5 million or 39.7% from the previous quarter. This increase in the net profit was in accordance with enhanced efficiency in cost management for administrative expenses and recognition of net profit of food court system management, vending machine business, drop-off services and TBSP Plc.

Sales and services revenue for the period was THB735.0 million, representing an increase of THB370.9 million or 101.9% from the same period last year and an increase of THB20.9 million or 2.9% from the previous quarter.

This revenue increase was due mainly to the company’s solutions and channels business. As of 31 March 2022, SABUY has around 12,100 drop-off locations nationwide via ShipSmile, The Letter Post, M Point Express, Paypost along with Speedy Express which are under SABUY SPEED’s management. From the previous quarter, the company has only 5,984 branches, with a dramatic increase of 6,116 branches. In retail pillar, SABUY invested in TBSP Plc. (which is now renamed to PLUS TECH Innovation Public Company Limited) and now begins to recognize revenue from plastic card production and personal data embedding. Moreover, financial transactions in the group’ ecosystem still have a strong growth, this reflects an effective and efficient management of the company.