Mr. Chookiat Rujjanapornpajee, CEO of SABUY Technology Public Company Limited, announced that "The company is pleased to report that SABUY has achieved significant growth in line with our previously announced targets. In the first quarter of 2023, the company's total revenue reached 2,533.7 million baht, an increase of 1,698.3 million baht or 203.3% compared to the same period last year. The net profit was 167 million baht, up from 59.7 million baht in the previous year, representing a remarkable increase of 55.6%. The normalized core profit stood at 215.3 million baht."

The substantial revenue growth came from the Connext business segment at 58.2%, the Enterprise segment at 31.3%, the Payment segment at 6.4%, the Financial Inclusion segment at 3.6%, and the Innotainment segment at 0.5%. The company also has a stronger revenue structure, with total revenue growing by 42.1 million baht compared to the fourth quarter of 2022. Furthermore, the company will adjust its sales structure to be more comprehensive in line with the 7 SMART business plan, reflecting SABUY's potential for high revenue growth and readiness to become a regional player. Currently, SABUY has a strong financial position with assets of 21,467 million baht, shareholders' equity of 13,156 million baht, a liquidity ratio of 1.14 times, and a low debt-to-equity ratio (D/E) of only 0.64 times, allowing for continuous investment in business expansion.

For 2023, SABUY has set a challenging growth target of 20,000 million baht, aiming for a 400% increase from total revenue of 5,325.4 million baht in 2022. While SABUY continues to generate profits, the company is not resting on its laurels and will push for even better performance through three main strategies:

  1. Continuously increase revenue across all products and sales channels, seek new markets, and restructure the sales organization to focus on solution-based sales in line with the 7 SMART approach.
  2. Reduce costs in all areas, eliminate redundancies, and enhance efficiency by taking proactive measures before they become significant issues in the future.
  3. Restructure the company's business segments to be more streamlined and efficient, using SBNEXT, PTECH, and AS as the core of the three main businesses: Connext, Enterprise & Life, and InnoTainment. This may include selling parts of the business (such as SABUYSPEED) to partners to enhance value, as well as divesting non-synergistic businesses within the SABUY ecosystem.

This year, the company expects to invest in 2-3 additional deals, with an investment of around 5,000 million baht. Funding sources will include the sale of some assets from SABUY SPEED, a subsidiary in which SABUY holds an 82% stake, and the sale of land from SBNEXT (formerly known as TSR), valued at 1,000 million baht, along with other funding sources.

SABUY is committed to continuously expanding its various businesses, with a strategy to expand overseas, focusing on growing its customer base in the ASEAN region to become a regional player. Alongside sustainable growth, the company is strengthening its capabilities in personnel development, integrating technology and innovation into operations, improving processes, managing risks, ensuring good corporate governance, and conducting internal audits. All of these efforts will be crucial in helping SABUY achieve stable and sustainable growth in the future.