SABUY Reports 1Q21 Net Profit of ฿33.7Mn, Increasing 15% YoY

Sabuy Technology Public Company Limited (SABUY) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

SABUY’s net profit for Q1/2021 amounted to THB 33.7 million, an increase of 14.5% from the same period last year. This increase in the net profit was following the growth in gross profit together with enhanced efficiency in cost management for administrative expenses.

 

Sales and services revenue of the Company for Q1(ended March 31st), 2021 rose by THB 3.7 million, or 1.0%, from the same period last year. This revenue increase showed strong performance despite the adverse impact from the COVID-19 pandemic outbreak since March 2020, causing a decrease in beverage sales in vending machines due to traveling restrictions across the nation.

 

The revenue from services rose slightly from the previous year from banking transaction fees, as the Company’s top-up machines are spreading nationwide and become easily reachable to customers, while people are taking higher precautions against making direct contact with banking agents during this COVID-19 pandemic. Moreover, the Company generated revenue from mass media services through media sticker wrapping on the Company’s vending machines, which has become more visible with the increasing number of vending machines.