AIT has announced a 37% increase in net profit for Q1/2024, continuing to expand its customer base in both public and private sectors, supporting its revenue target of 6.8 billion baht for the year. The company is also venturing into carbon credit business to create a new S-curve and has invested in two companies to drive sustainable growth.

Advanced Information Technology Public Company Limited (AIT) reported a revenue of 1.684 billion baht for Q1/2024, a 30% increase from the same period last year, with a net profit of 133 million baht, up 37% from 97 million baht last year. This growth is attributed to revenue recognition from government and state enterprise projects, including the renovation of aging power stations and the expansion of IRIS Premium Cloud services.

Mr. Siripong Unthrapun, Chairman of the Executive Board and CEO of AIT, a leader in comprehensive information and communication systems contracting, stated that for Q1/2024 (January – March), the company achieved a revenue of 1.684 billion baht, a 30% increase compared to 1.297 billion baht in the same period last year, and a net profit of 133 million baht, up 37% from 97 million baht last year. The revenue growth is driven by projects from government and state enterprises, such as the construction of power station renovations and equipment purchases for expanding services.

As of May 2, 2024, the company has a backlog of 5.2 billion baht, with 150 million baht awaiting customer orders and projects in preparation for bidding worth no less than 9 billion baht. Following the government’s approval of a 3.48 trillion baht budget for 2024, part of which will be used for infrastructure development and management improvements, the opportunities for government project bids are expected to increase, supporting the company’s operational plans.

The CEO of AIT anticipates continuous growth in 2024, maintaining a revenue target of 6.8 billion baht, under key strategies to expand the customer base and foster good relationships with business partners, alongside developing personnel to meet challenges and improving internal systems for efficiency, which will help create new business opportunities for sustainable growth.

Additionally, the company recognizes the importance of addressing global warming, which increasingly affects lives worldwide. The mission to reduce greenhouse gas emissions requires collaboration from all sectors. AIT is focusing on environmental care, reducing global warming, and minimizing greenhouse gas emissions through investments in green businesses, including:

1.) Comprehensive Carbon Credit Business in Forestry - Recently, AIT invested in Zero Co2 Public Company Limited, holding a 50% stake with an investment of 10 million baht, to provide comprehensive carbon credit solutions in forestry, from sourcing special seedlings to project registration and carbon credit trading.

2.) Automated Carbon Footprint Reporting System using IoT and AI - AIT invested in Carbon Lead Company Limited, holding a 50% stake with an investment of 5 million baht. This business will be part of AIT’s New S-curve in green energy, enhancing investment opportunities for long-term sustainability.

“Regarding the progress of the economic teak plantation project covering approximately 1,000 rai in Khon Buri, Nakhon Ratchasima, we are now entering phase 2 to plant an additional 600 rai, expected to be completed by July 2024,” Mr. Siripong stated.