Samart Corporation Public Company Limited has disclosed its consolidated financial statements for the year 2023, showing a significant recovery and a strong readiness to fully rebound this year. The company recorded a total revenue of 10,297 million baht, increasing by 1,276 million baht, or nearly 10%, compared to the corresponding period of the previous year. Moreover, the net loss decreased by more than half compared to the same period of the previous year, which is attributed to the recovery of the company within the group. There is confidence that all business segments will continue to show promising trends this year, especially in the ICT and aviation sectors, which are ready for continuous expansion.

Mr. Watchai Vilailuck, Deputy Chairman of the Board of Directors, Strategy and New Business Development Division of Samart Corporation PCL (SAMART), stated, “In the year 2023, the SAMART Group demonstrated significantly improved performance. SAMART Corporation had a consolidated revenue of 1,390 million baht, a 77% growth, and a net profit increase of 118% to 631 million baht, resulting in a net profit margin of 45%. Among the group’s subsidiaries, Samart Aviation Solutions PCL (SAV), the leading radio aviation business in Cambodia, achieved a consolidated revenue of 1,647.8 million baht, up by 35%, with a net profit of 271.6 million baht, an increase of 72 million baht or 36% compared to the same period of the previous year. Meanwhile, Samart Telecommunications PCL (SAMTEL) recorded a consolidated revenue of 4,588 million baht, a decrease of 12.9%, with a net profit attributable to shareholders of the company at 72 million baht, down by 189 million baht or 72.5%. Samart Digital PCL (SDC) reported a consolidated revenue of 1,965 million baht, a growth of 205%, with a net loss attributable to shareholders at 754 million baht. The net loss decreased by 422 million baht, representing an improvement of almost 40%.”

When combining the performance of all subsidiary companies, Samart Corporation PCL (SAMART) achieved a total revenue of 10,297 million baht, an increase of 1,276 million baht or approximately 10%. However, there was a net loss of approximately 390 million baht, representing a decrease of around 59% compared to the same period of the previous year. This decrease is attributed to the recognition of the net loss of SDC.

“For the year 2024, SAMART aims for a revenue growth of 30% or higher than 13,000 million baht. The primary revenue sources will come from the Digital ICT Solutions business group, led by Samart Telecommunications PCL (SAMTEL), and the Utilities and Transportation business group, which includes the rapidly growing aviation business, with Samart Aviation Solutions PCL (SAV) being the main company in this group. The Digital Communications business group is also expected to experience significant growth. SAMART will focus on an outsourcing business model strategy for government clients, aiming to reduce budget burdens and enhance service efficiency. This strategy will help the company achieve sustainable recurring revenue in the long term. This can be seen from projects such as Direct Coding or projects to enhance efficiency in tax management for alcoholic beverages, particularly beer, with a production and distribution value of over 8,000 million baht within a 7-year project timeframe. Revenue recognition from these projects has reached approximately 1,000 million baht in the past year. Furthermore, the company aims to increase the proportion of recurring income to 40-50% of total revenue.”

At the same time, the company also emphasizes expanding Strategic Partners to enhance competitiveness and business opportunities. This includes expanding technology services to serve new customers both domestically and internationally. This year, the company plans to allocate an investment budget of approximately 4,000 – 5,000 million baht for new projects.

“This year is expected to be a year of even better growth for companies within the group. Currently, Samart Telecommunications PCL (SAMTEL) has a backlog of projects worth 5,000 million baht. We aim to sign new project contracts worth 7,000 million baht this year to promote revenue growth of no less than 30%. Meanwhile, Samart Aviation Solutions PCL (SAV) aims for revenue growth in Cambodia of approximately 22-25% and is in negotiations to expand the aviation business in Laos, which will significantly impact revenue and business growth. As for Samart Digital Corporation PLC (SDC), it will recognize revenue from the Digital Trunk Radio business for the entire year, which is expected to contribute to a positive turnaround in operational results. Additionally, in the past quarter, SDC has halted the reserve investment in network infrastructure, resulting in reduced accounting costs. We are confident that the company will continue to expand its user base for the Digital Trunk Radio Service network nationwide continuously, Mr. Watchai concluded.

Samart Corporation Public Company Limited (SAMART) is a holding company that operates businesses through its subsidiaries and joint ventures. These subsidiaries are engaged in telecommunications infrastructure systems and provide comprehensive information technology services through various telecommunications networks to both government and private organizations. SAMART has three main business groups:

1. Digital ICT Solutions Business Group: Operated through Samart Telecommunications Public Company Limited (SAMTEL), this group focuses on telecommunications network infrastructure, ICT technology application services, and application development support businesses.
2. Utilities & Transportations Business Group: Operated through Samart Aviation Solutions Public Company Limited (SAV), this group provides comprehensive air traffic management services nationwide in Cambodia under Cambo Air Traffic Services Co., Ltd. (CATS). It also engages in power construction and services related to high-voltage power stations and transmission lines.
3. Digital Communications Business Group: Operated through Samart Digital Corporation Public Company Limited (SDC), this group engages in digital network, digital content, and digital trunk services. Additionally, it operates the Lucky Heng Heng platform, a new trend in the gaming industry expected to experience significant growth this year.

These businesses aim to expand their operations and revenue by investing in new projects and forming strategic partnerships.