SABUY Records 150% Increase in 3Q21 Net Profit over Higher Revenue

Sabuy Technology Public Company Limited (SABUY) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

SABUY reported a net profit of 56 million baht in 3Q21, increased 148% from a net profit of 22.54 million baht in 3Q20. The increase in the net profit was in accordance with enhanced efficiency in cost management for administrative expenses and recognition of net profit of A.T.P. Friend Service Co., Ltd and TBSP Plc.

The revenue in 3Q21 was 674.6 million baht, increased 69.5% from the same period of last year. This is due mainly to, the service expansion of company’s top-up machines spreading throughout nationwide with more reachable than bank branches and ATM, while people are taking more precautions against making direct human contact during this COVID-19 pandemic and with increasing revenue from additional rollout of ePayment services through 14 additional food courts tenants in the third quarter.

Moreover, the company generated higher revenue from selling higher-value products such as facemasks and telephone chargers through vending machines. In the meantime, the number of new vending machines and petrol vending machines installed in factories, offices, shops, and local community areas rose steadily even though with some difficulties in refilling products into vending machines located in department stores and some factories due to traveling restrictions or closure across the nation. In this quarter, the number of ShipSmile branches rose almost double to 4,040 branches. In addition, the company fully recognized (through financial consolidation) additional revenue from investment in subsidiary companies, A.T.P. Friend Service Co., Ltd and TBSP Plc.