Advanced Information Technology Public Company Limited (AIT) has announced its financial results for the fiscal year 2023, reporting revenues of 7.198 billion baht, an 11% increase, setting a new record for the highest performance in the company's history. The net profit reached 573 million baht, up 15% from the same period last year, reaffirming its status as a strong Dividend Stock. The board has approved a dividend payment of 0.40 baht per share for the second half of the year, with an XD mark set for April 18. The company aims for stable growth, targeting revenues of 6.8 billion baht for 2024, with a conservative growth approach and a backlog exceeding 6 billion baht, while maintaining a net profit margin of 7-8%. This comes in response to Turnkey Communication Service Public Company Limited (TKC) seeking to acquire up to 10% of shares from existing shareholders, enhancing business collaboration.

Ms. Sasinetr Phaholyothin, Acting Chairman and CEO of AIT, a leader in comprehensive information and communication technology systems integration, discussed the company's performance for the fiscal year 2023, which saw revenues of 7.198 billion baht, an 11% increase compared to 6.514 billion baht in the previous year. This marks a new record since the company's inception, attributed to effective management and operations across all dimensions, with a net profit of 573 million baht, up 15% from 497 million baht last year.

Previously, the delayed approval of the government's budget for 2023 allowed several large projects that had been postponed to commence in 2023. Additionally, projects under the 2024 budget were approved by the House of Representatives in September 2023, with some funds already disbursed, leading to strong revenue growth from increased project recognition from the government.

Given the outstanding performance in 2023, the board has approved a proposal to distribute dividends from the company's net profit and retained earnings at a rate of 0.40 baht per share (40 satang), with an XD mark set for April 18, 2024, and payment scheduled for May 2, 2024. The right to receive this dividend is subject to approval at the annual general meeting on April 4, 2024. Including the interim dividend of 0.15 baht (15 satang) paid on September 6, 2023, the total dividend for 2023 amounts to 0.55 baht (55 satang), reinforcing AIT's reputation as a consistent Dividend Stock that delivers good returns to shareholders.

Simultaneously, the board has resolved to propose to the annual general meeting on April 4, 2024, the approval of a voluntary partial tender offer from TKC for up to 153,641,557 shares, representing 10.00% of the total issued and paid-up shares, at a price of 5.20 baht per share, totaling no more than 798,936,096.40 baht. If approved, this will allow TKC to hold up to 34.90% of AIT's shares (post-transaction), enhancing business collaboration as a strategic partner in providing comprehensive information and communication technology services, or as a System Integrator (SI), while increasing capabilities in delivering digital solutions and IT infrastructure to meet the growing demands of both public and private sectors in the era of AI and Digital Transformation. Management will remain under the existing team responsible for setting operational policies and management, aiming to become a leader in the information and communication technology industry in Thailand.

The Acting Chairman and CEO of AIT commented on the overall outlook for the information and communication technology industry in 2024, anticipating stable investment in the System Integrator (SI) business. However, significant growth opportunities will arise from government policies and ongoing technology development in both public and private sectors, particularly driven by the government's digital strategy focusing on developing Digital Government, Cloud infrastructure, and Cybersecurity, as well as investments in Smart Cities and AI to enhance public service efficiency. The government's Cloud First policy is also a crucial driver for state agencies to increasingly adopt Government Cloud, presenting opportunities for the company to secure more projects.

For 2024, the company aims to achieve revenues of 6.8 billion baht, setting a conservative revenue target while maintaining an average net profit margin of 7-8%. The business strategy will focus on five key areas: 1.) Expanding the customer base to drive revenue growth, 2.) Building strong relationships with business partners, 3.) Developing personnel to meet challenging work demands, 4.) Enhancing internal systems for improved efficiency, and 5.) Expanding businesses that create sustainable growth opportunities with short, medium, and long-term returns. Currently, AIT has a backlog of approximately 6 billion baht as of February 13, 2024, along with an additional 80 million baht in pending orders from clients, which is expected to significantly support achieving the set performance targets.