Bluebik Group Public Company Limited (“the Company”) and its subsidiaries, associates and joint ventures, is an end-to-end digital transformation partner providing services for strategic and digital technology consulting and other related services for various business sectors. Main active businesses are in 4 pillars including;
- Digital Transformation Consulting Services
- Digital Platform
- Joint venture i.e. Orbit Digital Co., Ltd. (“Orbit”), Sauce Skills Company Limited (“Sauce Skills”) and EcoX Company Limited (“EcoX”)
- Global business in multiple countries i.e. Indonesia, Singapore, United Kingdom and Vietnam
| 2024 | 2023 | 2022 | 2021 |
|---|
| Revenues | 1,516.45 | 1,321.27 | 567.53 | 306.36 |
| Expenses | 1,227.60 | 1,033.98 | 437.17 | 229.27 |
| Net Profit (Loss) | 301.11 | 278.56 | 127.09 | 66.49 |
| Assets | 2,501.94 | 2,436.53 | 805.85 | 651.00 |
| Liabilities | 496.08 | 470.44 | 169.69 | 107.11 |
| Shareholders' Equity | 1,978.16 | 1,928.05 | 631.52 | 543.88 |
| Operating | 305.19 | 48.27 | 48.65 | 80.62 |
| Investing | -263.32 | -939.72 | 161.34 | -249.43 |
| Financing | -54.39 | 1,004.27 | -35.51 | 360.83 |
| EPS (Baht) | 1.51 | 2.59 | 1.27 | 0.89 |
| GP Margin (%) | 47.81 | 49.89 | 52.78 | 60.94 |
| NP Margin (%) | 20.70 | 22.93 | 23.01 | 21.71 |
| D/E Ratio (x) | 0.25 | 0.24 | 0.27 | 0.20 |
| ROE (%) | 15.42 | 21.77 | 21.62 | 20.34 |
| ROA (%) | 14.40 | 21.10 | 20.58 | 19.75 |
The Company aims to become a leading integrated digital transformation partner by bringing the strengths of experience and expertise of executives and staff who have worked with world-class consulting firms to meet customers who want to improve their organization to keep pace with changes in the digital age and unlock unlimited growth potential to create a competitive advantage. The Company provide services covering management consulting (MC) to find success factors that will create exponential growth, Strategic Project Management (PMO), Digital Excellence and Delivery (DX), Big Data & Advanced Analytics (AI) as well as providing digital platform services.
The Company has realized the importance of business operation for sustainable growth with Corporate Social Responsibility (CSR) by focusing on conducting business with care for stakeholders, economy, society, and environment morally and ethically. In this regard, this will bring benefit to public and create sustainability in long-term investment along with the growth of the Company in parallel.
Despite the continuous negative factors in year 2024 and the uncertainty regarding the economic deceleration that caused to the slow down of investment of multiple industries, the Group still delivered as planned and grew stably and continually effecting to the new high record for both revenue and net profit for the year.
For 2024, total revenues of the Group amounted to 1,506.66 MB, increased by 193.37 MB or 14.72% from 2023 mainly due to the needs for the technology adoption and digital transformation from the economic recovery after the resume of industries spending and acceleration of government budget disbursement in 2H2024. Also, the Group performed well in terms of project delivery that caused the growth of revenue especially from the DX, ERP and Corporate training services. The decreasing of MC, PMO and AI revenues was mainly due to the shift of these services to be integrated into the implementation of systems which is our strengths for the end-to-end digital transformation partner, so the standalone service for MC, PMO and AI is appeared to be decreasing. The growth of revenue derived from the expansion to new customers and the new projects from the existing customers, especially in financial institution, manufacturing, retail, insurance and technology sector.
The net profits of the Group amounted to 313.83 MB or increased by 10.80 MB or 3.56% from 2023. In addition, the net profit for the parent company amounted to 301.11 MB or increased by 22.55 MB or 8.09% from 2023. The net profit margin was at 21% from total revenue which decreased a bit from 2023 due to the temporary slow down of Q2/2024 performance from the drop of revenue, together with the short term cost and expenses in first half of the year from outsource cost for few of projects which require resources in urgency needs, and one-time charge for prior year’s tax expense of the Group. However, the net profit margin for 2024 increased from net profit margin of 9M2024 which reported at 19% which represent the capability of the Group to recover the performance back continuously in 2H2024.
Bluebik Group Co., Ltd. incorporated since 12 September 2013 with the registered capital of 1 MB to provide services for strategic and digital technology consulting. Later, registered for conversion to Public Company Limited in the name of Bluebik Group PLC. and listed in "mai" with the security symbol "BBIK" on 16 September 2021 with registered capital of 50 MB and incresed its registerd capital and paid up capital to 100 MB in later. In order to serve the position of Truly End-to-End Digital Transformation Partner according to the Group strategic plan, the Company expands investment through subsidiarirs, joint ventures and associates both domestically and oversea.
The Company has set a risk management policy that all executives and employees must comply with and also cultivated risk management as a corporate culture. CEO is the chairman of the risk management working team and supervises operations for risk management of the Company. The quarterly risk management reports are presented to the RPC, AC and BOD to be acknowledged in order to closely manage and monitor the risks and ensure that they are at an acceptable level. The Company has assessed risks that may affect operations along with the adequacy of the existing internal control systems to find the solutions to improve operation for more efficient performance. The scope covers management and administration of various tasks in the Company to ensure that the operation risk are at a controllable and acceptable level.
The Company scored 100/100 in the AGM Checklist of 2024 and received "Very Good" scoring in 2024 CGR project.
| as of 30/12/24 | BBIK | TECH | mai |
|---|---|---|---|
| P/E (X) | 28.28 | 23.30 | 41.84 |
| P/BV (X) | 4.16 | 1.85 | 1.55 |
| Dividend yield (%) | 0.53 | 2.56 | 2.47 |
| 30/12/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 7,800.60 | 10,289.39 | 13,350.00 |
| Price (B/Share) | 39.00 | 94.50 | 133.50 |
| P/E (X) | 28.28 | 44.45 | 113.51 |
| P/BV (X) | 4.16 | 5.56 | 22.14 |
