G-Able Public Company Limited (SET: GABLE) has released its consolidated financial statement for the second quarter ended 30 June 2025, reporting a mixed performance with lower revenue but stronger profitability.
Total revenue for 2Q2025 was Baht 1,459.77 million, down 25.17% from Baht 1,950.88 million in the same period last year. The decline was primarily due to revenue recognition from a large-scale hardware project in 2Q2024, which had significantly boosted the prior year’s figures. Sales and service income, GABLE’s core revenue stream, fell 25.32% to Baht 1,447.27 million. Within this, Enterprise Solution and Services revenue dropped 36.66% to Baht 1,023.75 million, now accounting for 70.74% of total sales and service income. By contrast, the newly launched Business Application Business contributed Baht 105.26 million, or 7.27% of sales and service income, a segment that did not exist in the prior year’s comparable period.
Despite the revenue contraction, net profit rose 28.34% year-on-year to Baht 80.88 million, driven by a stronger gross profit margin of 20.41% (up from 15.72% in 2Q2024), reflecting more efficient cost control. Cost of sales and services totaled Baht 1,151.86 million, representing 79.59% of total sales and service income. Finance costs fell to Baht 1.79 million, down Baht 2.61 million from last year, due to loan repayments. Selling and distribution expenses were Baht 101.34 million (6.94% of total revenue), while administrative and other expenses were Baht 111.43 million (7.63% of total revenue).
A major strategic milestone was the integration of the Business Application Business, stemming from G-Able’s acquisition of a 75% stake in Round Two Solutions Co., Ltd. on 1 August 2024. This move aims to position the Group as a leading Smart Business Application Provider in Thailand, offering world-class ERP and CRM solutions.
Although topline revenue fell due to last year’s one-off project, G-Able demonstrated resilience through improved margins and strategic diversification, setting the stage for sustainable growth in the evolving tech solutions market.
