SKY ICT Public Company Limited (SET: SKY), a leading player in Thailand’s information and communication technology (ICT) sector, delivered a strong performance for the second quarter ended 30 June 2025, posting substantial growth in both revenue and net profit.
Total revenue rose 61.5% year-on-year to THB 2,636 million, up from THB 1,632 million in 2Q2024. This surge was driven by new System Integration (SI) projects aligned with government economic stimulus policies, strong expansion in the Smart Security and Facility Management Services segment, and the consolidation of revenue from SKY CC Company Limited (formerly One to One Professional Co., Ltd.) following its acquisition in August 2024. As a result, net profit jumped 81.8% to THB 200 million from THB 110 million in the same period last year, with the net profit margin edging up from 6.8% to 7.6%.
However, the gross profit margin contracted from 20.2% to 16.7%, reflecting a proportionally higher rise in service costs—particularly in labor-intensive operations such as smart property management and customer service management (SKY CC). Rising minimum wages in these segments could not always be passed on to clients due to fixed-price contracts.
Total expenses increased 7.5% to THB 272 million. Selling expenses declined slightly thanks to stricter marketing cost control and SKY CC’s business model, but administrative expenses rose 16.7% following the consolidation of new subsidiaries, including SKY CC and SKY AI. Finance costs fell 4.1% on reduced long-term borrowings and effective financial management. Other income surged 300.0%, shifting from a loss to a gain, mainly from higher fair value adjustments on equity investments. Conversely, the share of profit from associates and joint ventures dropped 26.4% due to slower tourism activity impacting ground handling services.
