BE8 Profit Growth +80% for FY2023 with Revenues Exceeding 2.4 Billion THB

Beryl 8 Plus announces FY2023 results with 80% profit growth and revenues exceeding 2.4 Billion THB, showing continuously strong business growth driven by increasing demand for Digital Transformation from businesses and organizations seeking to invest in innovation to increase competitive advantage and prevent cyber security threats

Mr. Apisek Tewinpagti, Chief Executive Officer of Beryl 8 Plus PCL, shared that in FY2023 the company and its group companies have a net profit of 250.24 Million THB which is an increase of 111.63 Million THB from the previous year or an 80.53% growth from the previous year’s net profit of 138.61 Million THB. The profit growth was driven by the increase in revenues as well as the decrease in cost from synergies across the group companies. The group’s total revenues for FY2023 is 2.409 Billion THB, an increase of 1.605 Billion THB or 199.40% compared to previous year with a total revenues of 810.97 Million THB.

He also shared that the growth in revenues from both the technology consulting and technology services are reflective of the growing demand from customers to undergo Digital Transformation where many organizations prioritize investment in innovation to increase competitive advantage by utilizing technology, Digital Marketing, Data Analytics, and Cyber Security. Moreover, BE8 Group has also invested in many companies to expand services to address the demand of customers with end-to-end Digital Transformation.

The total revenues from BE8 group are comprised of 1.099 Billion THB revenues from Strategy & Technology Consulting Services, which has increased 697.96 Million THB or 174.26% from previous year while 740 Million THB of total revenues come from Technology Service and Licensing and Subscription, which increased by 506.97 Million THB or 217.11% compared to previous year. Managed Services and Staff Augmentation generated 570.37 Million THB in revenues, an increase of 399.70 Million THB or 234.19% from previous year.

At the end of 2023, the company and its subsidiaries have a total assets of 3.988 Billion THB, an in crease of 65.84 Million THB compared to at the end of 2022 with a total assets of 3.922.79 Billion THB while the group has a total liability of 1.189 Billion THB, a decrease of 180.75 Million THB from previous year due to the interim debt repayment from its subsidiary company.