Samart Aviation Solutions Public Company Limited (SAV) reported a strong third-quarter performance, posting revenue of Bt437 million and a profit of Bt126 million. This solid performance helped drive a year-to-date total revenue of Bt1,285 million and a profit of Bt337 million for the first nine months of the year, reflecting a 64 per cent increase compared to the same period in 2023.

Mr. Teerachai Phongphanangam, President of SAV, highlighted the company’s sustained growth, with Q3 revenue rising by Bt35 million, or over 8 per cent, compared to the same quarter last year. Profit for the quarter also increased by Bt35 million, or approximately 39 per cent, compared to Q3 2023.

SAV operates as a holding company with a primary focus on investments in air traffic and aviation-related services. The company holds significant stakes in Cambodia Air Traffic Services Co., Ltd. (CATS), the exclusive provider of air traffic and navigation services in Cambodia. Over the years, SAV has consistently demonstrated strong, sustained growth in its performance.

This growth is primarily fueled by a rise in flight volumes, which are approaching pre-pandemic levels. Despite the appreciation of the Thai baht against the US dollar, the company’s operating currency, revenue continued to increase, driven by the increased flight activity.

In Q3 2024, the total number of flights serviced across all categories reached 25,900, an increase of 1,688 flights, or 7 per cent, compared to the same quarter last year.

SAV’s Q3 revenue is segmented into three main categories as follows:

• Domestic landing and take-off services: Bt8 million, reflecting a 284 per cent increase compared to the same quarter last year.
• International landing and take-off services: Bt133 million, marking a nearly 10 per cent increase compared to Q3 2023.
• Overflight services in Cambodian airspace: Bt292 million, representing a 6 per cent increase compared to the same period last year.

For the first nine months of 2024, SAV reported total revenue of Bt1,285 million, an increase of Bt173 million, or 16 per cent. The company also recorded a profit of Bt337 million, up by Bt132 million, or 64 per cent, compared to the same period in 2023.

SAV was officially listed and began trading on the Stock Exchange of Thailand on September 26, 2023 under the Transportation and Logistics category. Since its listing and fundraising, SAV has shown consistent growth in its financial performance.

“Looking ahead to the final quarter of the year, which aligns with the high season, we anticipate a growth of at least 15 per cent compared to the same period last year. The Christmas and New Year holidays are likely to drive a surge in tourism to Thailand and Vietnam, resulting in increased flight volumes through Cambodian airspace. Furthermore, the expected reduction in airfare prices should lead to a rise in both international flights to Cambodia and domestic flights, providing an additional boost to the tourism sector,” Mr. Teerachai concluded.