Advanced Information Technology Public Company Limited (AIT) has announced its operational results for the second quarter of 2024, reporting revenue from its core business of 1.867 billion baht and a net profit of 139 million baht. This supports the first half of 2024 results with total revenue of 3.551 billion baht, an 18% increase, and a net profit of 271 million baht, up 23%. The board has approved an interim dividend of 0.15 baht per share, reinforcing its position as a reliable Dividend Stock. The company is confident it will achieve its revenue target of 6.8 billion baht for 2024 and has also provided updates on its carbon credit business.

Mr. Siripong Unthapan, Chairman of the Executive Board and CEO of AIT, a leader in comprehensive information and communication systems contracting, revealed that for the second quarter of 2024 (April-June), the company generated revenue from its core business of 1.867 billion baht, a 10% increase compared to 1.703 billion baht in the same period last year, with a net profit of 139 million baht, up 13% from 123 million baht last year. For the first half of 2024 (January-June), the company reported revenue of 3.551 billion baht, an 18% increase from 3 billion baht in the same period last year, and a net profit of 271 million baht, a 23% increase from 220 million baht last year.

The growth in performance is attributed to revenue recognition from large-scale projects. Significant projects delivered in the second quarter of 2024 include the construction and renovation of the deteriorating power station in Bangsamak, Chachoengsao, for the Provincial Electricity Authority, procurement of equipment to enhance the efficiency of internet network management and email intrusion prevention for the Social Security Office, and maintenance contracts for information technology and communication services for the House of Representatives Secretariat. Additionally, the increase in revenue from projects with higher numbers and values has allowed for better coverage of fixed costs, resulting in improved net profit.

To emphasize AIT's status as a Dividend Stock, the board of directors has approved the payment of an interim dividend for the first half of 2024 (January-June) at a rate of 0.15 baht per share, with the XD sign set for August 22, 2024, and the dividend payment scheduled for September 6, 2024.

The Chairman and CEO of AIT stated that for 2024, the company expects continuous growth, maintaining its revenue target of 6.8 billion baht. In the second half of the year, the company sees opportunities for growth in the technology and communication sectors, especially after the government approved the 2024 budget, particularly for the digital government integration plan. It is anticipated that the government will accelerate efforts to ensure the continuous development of the country's digital government, thus increasing opportunities for public sector project bids, which will help drive the company's performance in line with its plans.

As of August 2, 2024, the company has a backlog of 5.3 billion baht, with 55 million baht worth of projects awaiting customer orders, and is preparing to bid for public and private sector projects valued at no less than 6 billion baht.

Meanwhile, regarding the progress of investment plans in green business to create a New S-curve through two joint ventures, the company is advancing its carbon credit business in the forestry sector through Zero Co2 Public Company Limited, providing carbon credit solutions for forestry. Currently, the company is in the process of registration for automated carbon footprint reporting services using IoT and AI technology (Automate Carbon Footprint Report) through Carbon Lead Co., Ltd. The platform for managing greenhouse gases has been completed and is ready for customer service.

Additionally, regarding the progress of the reforestation project covering approximately 1,000 rai, the company has successfully planted 100% of the planned area, with a total of 223,600 teak saplings planted. However, it is currently in the process of replanting the first phase of teak saplings due to a mortality rate of about 20-30% among previously planted saplings. The project has also been renamed from “Carbon Credit Trading and Economic Teak Planting Project” to “Teak Forest for Carbon Credit Project.”