Bluebik Group Pcl (SET: BBIK) debuted September 16 on the Stock Exchange of Thailand (SET) MAI (Market for Alternative Investments), highlighting its strength as the first digitalization consultancy stock to be listed and its intention to expand the business in every dimension – to strengthen personnel, advance technology and improve software – to empower organizations and to reinforce its outstanding performance.
|Mr. Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group (SET: BBIK), speaking on First Trading Day | Sept 16 (MAI/SET).
Mr Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Pcl (BBIK), said that the Company was offering its shares on the SET’s MAI under the symbol “BBIK” after offering 25 million shares for subscription in the initial public offering (IPO), enthusiastically received beyond expectation. This fund-raising will help to promote financial strength to support business expansion in many dimensions and generate even stronger growth.
The plan to expand the business will be carried out in six dimensions, namely:
1. To enlarge personnel and enhance technological skills as well as establish the Learning Academy Center;
2. To provide Software-as-a-Service (SaaS) over the Internet and establish a Research and Development Center;
3. To enhance internal management through upgrading the software system to support organizational growth;
4. To expand office space to accommodate the additional personnel;
5. To invest in other related and high-potential businesses to build growth and to cope with market volatility; and
6. To enhance working capital potential.
The Company aims to be a leading integrated digital transformation consulting organization. It brings together the strengths of experience and expertise of executives and personnel who have worked with the world’s leading consulting firms, providing innovation and technology consulting services that meet the demand of customers who want to upgrade their organizations to keep pace with the changes in the digital era, unlock growth potential and build business advantage. This covers strategic planning and management (Management Consulting) to identify success factors that will create growth; Strategic Project Management Office (PMO); Digital Excellence and Delivery; Big Data & Advanced Analytics consulting; and offering IT Staff for customers to complete their projects.
As for BBIK’s 2018-2020 performance, revenue from sales and services were THB 132.76 million, 184.94 million and 200.53 million, respectively. The compound annual growth rate (CAGR) was 22.90%, and the net profits were THB 19.22 million, 31.71 million and 44.29 million, with the CAGR of 51.8% for the first six months of this year. Revenue from sales and services was THB 126.92 million, an increase of 39.47% from the same period of the previous year, and a net profit of THB 30.06 million, representing a net profit margin of 23.67%.
From the end of 2021, the Company will recognize revenue from Orbit Digital Co Ltd (ORBIT), a joint venture between PTT Oil and Retail Business Plc. (OR), with a 40% share held through a subsidiary, and the Company, with a 60% share, to leverage the digital innovation and potential to create the optimum experience for customers, as well as to enhance the organization’s technological and innovative capabilities to add value and create new business opportunities and to become the digital leader in the retail industry.
Mr. Payupat Mahabhol, Managing Director for Investment Banking, Yuanta Securities (Thailand) Co Ltd, as financial advisor and lead underwriter, said Bluebik Group Plc. is an IPO with outstanding potential. The Company offers a wide range of services covering strategy, and technological and digital management, thus can meet the needs of corporate customers who want to engage in digital transformation in order to increase competitiveness and unlock the growth potential. In the past, the Company has gained the trust of many leading companies in various industries to avail of the services and have attained rapid growth performances. This also includes the opportunity to expand the customer base into the future, in line with the digital transformation occurring around the world.
Mr. Pongsak Phrukpaisal, Managing Director of Kasikorn Securities Pcl, joint lead underwriter, said that Bluebik Group Plc. is considered to be a leading company in the digital transformation consultancy business in Thailand which will benefit from the new era of digital-driven businesses. The strength of the Company is that it has an experienced management team with expertise in consultancy and strategic planning while possessing modern digital technology to provide services to customers and the ability to compete with foreign consultancy companies. The operating results have shown outstanding growth in both revenue and profit reinforcing the strong business potential. In addition, the partnership with OR through a joint venture company will support Company growth.
Released by Public Relations Dept., MT Multimedia Co., Ltd. for Bluebik Group Plc.
For additional information, please contact: Thiyaporn (Dah) Sriadunphan.
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Topic: Press release summary