SKY Expects Higher Performance in 4Q23 from Peak Season with THB 22 Billion Backlog on Hands

Mr. Sithidej Mayalarp, CEO of SKY ICT PCL (SET: SKY) revealed the company Q3 net profit at THB 130 million, a reverse from the loss of THB 35 million in last year, as SKY made a total revenue of THB 1,080 million, representing a 59% YoY growth.

The CEO said as the Q4 is a high season for Thailand tourism, SKY will benefit from increasing tourism, as the company revenues are attributable from airport related projects such as an aviation tech and airport services, namely; Common Use Passenger Processing System (CUPPS) and Advance Passenger Processing System (APPS), that will recognize the revenue as the number of passengers will increase.


These projects were delivered as planned and SKY still has the undelivered projects or the “backlog”, that has a total worth of THB 22.1 billion at the end of Q3. Moreover, SKY also gained some revenues from the investment in subsidiaries, such as the Metthier ltd. that focuses on “Smart Facility Management” for the private real estate sector.

Furthermore, SKY also has an “Employee Joint Investment Programs” (EJIP) which allows its employees to invest in the company and its subsidiary project with a fraction of their salary around 3% to 8%, and can later sell their stock into the market within 1 to 3 years, depending on which program they invest in.