AOT Plans to Launch AOTGA IPO in 2025 to Facilitate Groundwork Projects

Airports of Thailand Public Company Limited (SET: AOT) has announced that AOT Ground Aviation Services Co., Ltd. (AOTGA), a joint venture between SAL and AOT, is expected to go public and be traded in the Thai stock exchange in 2025.

The move is to facilitate its mega project for ground services over 67 billion baht in value that will require funding if the bidding goes through.

Mr. Kerati Kijmanawat, President of AOT, stated that there is a high growth potential for AOTGA if the company wins the bidding for groundwork services.

AOTGA is a joint venture between AOT and SAL Group (Thailand) Company Limited in which the former holds 49% of the shares and the latter holds 51%.

SAL Group (Thailand) Company Limited comprises SKY ICT Public Company Limited (46.8%), Triple I Logistics Public Company Limited (SET: III) (33.20%) and My Boxes Company Limited (13.60%).

As of 2023, AOTGA recorded a revenue of 2,515 million baht with a net profit of 627 million baht, representing a net profit margin of 24.94% and a D/E ratio of 0.71x.