SKY ICT Public Company Limited (SET: SKY) recently presented its Q1 2025 performance and business direction at the SET Opportunity Day event. CEO Sithidej Mayalarp and CFO Kulnada Oranraktham highlighted the company’s strong financial growth and future expansion plans, particularly in aviation technology and related services. SKY Group aims to be a key driving force transforming society through intelligent technological solutions.
For Q1 2025, SKY ICT reported revenue of 2,379 million baht, a significant 73% increase compared to 1,379 million baht in the same period last year. Net profit also saw substantial growth, rising by 86% year-on-year to 205 million baht. The main drivers for this impressive performance included continuous project wins in the System Integrator (SI) segment, expansion of security guard and cleaning services following the Samco acquisition, the recovery in international tourism, and the consolidation of SKY CC (formerly One to One Professional) into the group’s financials. Revenue segmentation in Q1 2025 comprised 54% from Service, 24% from SI, and 22% from Aviation Service.
SKY ICT also saw a notable increase in its share of profit from associated companies, totaling 107 million baht in Q1 2025, up from 82 million baht in Q1 2024. This growth was largely driven by the performance of SAL (holding in AOTGA), TKC and GSV (Rajadamnern boxing stadium management), with GSV’s Q1 profit share alone matching its full-year 2024 figure. The company’s financial health improved, with Return on Assets and Return on Equity increasing, and the Debt-to-Equity ratio decreasing to 1.16 in Q1 2025 from 1.34 in 2024.
Looking ahead, SKY ICT holds a robust backlog of 22,015 million baht. Aviation Service projects, such as the CUPPS (Common Use Passenger Processing Systems) system at 13 airports and APPS (Advance Passenger Processing System) at 11 airports, constitute the largest portion at 70%. The Service segment accounts for 24% of the backlog (5,210 million baht), and SI represents 6% (1,335 million baht).
The company plans to expand its footprint as an “Aviation as a Service” provider, increasing its service coverage across Thailand’s airports. Key expansion areas include enhancing passenger experience through technologies like Biometrics and developing the Sawasdee Airport Application into an “All-In-One Passenger Companion.”
SKY ICT is also aligning its growth with Airports of Thailand’s (AOT) expansion plans, such as the East Expansion and future South Terminal projects, positioning itself to support Thailand’s ambition to become an Aviation Hub for both passengers and cargo in Asia. The group is also committed to sustainability, focusing on developing Smart and Green Airports.
