Determined to expand workforce, develop technology and advance software.
Ready for principal roles in digital transformation consulting
Bluebik Group pcl debuts in the Market for Alternative Investment (mai) as the first listed consultancy on digital transformation in Thailand. With the listing and its outstanding achievements, the company confidently proceeds with its plans to expand its business in all dimensions, recruit more personnel, develop technology and digital operations and advance software to increase its potential.
Mr. Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited (BBIK), said its shares started trading in mai today (September 16, 2021) under the ticker symbol “BBIK”. Earlier it offered 25 million shares in its initial public offering (IPO) and received an unexpectedly warm welcome. The fundraising strengthens the financial status of the company which is thus able to expand its business in limitless dimensions for its healthier growth.
After the listing on mai, the company plans to grow its business in six areas: 1) the expansion of its workforce, the development of technological skills among staff members and the establishment of its Learning Academy Center; 2) Software as a Service (SaaS) development and the foundation of its Research and Development Center; 3) the improvement of internal management via software development to support its growth; 4) office expansion to accommodate a bigger workforce; 5) investment in related and potential business to spur growth and cope with market fluctuations; and 6) increase in its working capital.
The company is determined to be a leading and all-round consultancy on digital transformation. It applies its strengths which are the experiences and expertise of its executives and personnel who worked for world-class consultancies to offer advice on innovation and technology to meet the demand of its customers that want to see their organizations keeping up with developments in the digital era and unlock their growth potential for their competitive edge. Its services cover “Management Consulting” to identify factors for rapid growth, “Strategic PMO” for strategic project management, “Digital Excellence and Delivery” for the development of digital systems and technology consulting, “Big Data & Advanced Analytics” for big data management and data analyses with artificial intelligence and “IT Staff Augmentation” to deploy IT experts to help customers accomplish their projects.
From 2018 to 2020, the company recorded its annual revenue from its products and services at 132.76 million baht, 184.94 million baht and 200.53 million baht respectively. The compound annual growth rate (CAGR) of its revenue was at 22.90%. Its yearly net profits were at 19.22 million baht, 31.71 million baht and 44.29 million baht respectively, showing the CAGR of 51.8%. During the first six months of this year, the company generated income from sales and services at 126.92 million baht, up by 39.47% from a year earlier. The revenue resulted in its net profit of 30.06 million baht which represented the net profit margin of 23.67%.
From late 2021, Bluebik will recognize income from ORBIT Digital Company Limited (ORBIT), its joint venture with PTT Oil and Retail Business Public Company Limited (OR) which holds a 40% stake through a subsidiary. Bluebik has a 60% stake in the new company and plans to introduce innovations and digital technologies to create impressive user experiences, develop the capabilities of OR, increase business value and opportunities for the latter and make it a digital retail leader.
Mr. Phayuphat Mahaphon, Managing Director for Investment Banking at Yuanta Securities (Thailand) Co., Ltd. which is the financial advisor and lead underwriter, said that Bluebik Group pcl was an IPO with outstanding potential. It has a wide range of services which cover strategies and management based on technology and digital innovation. Therefore, it is able to serve the organizations that need digital transformation to enhance their competitiveness and unlock their growth potential. This is the reason why Bluebik serves a large number of leading companies in various industries, grows rapidly and has opportunities to continuously expand its customer base in the future according to the trend of worldwide digital transformation.
Mr. Pongsak Phrukpaisal, Managing Director of Kasikorn Securities pcl which is the co-lead underwriter, said Bluebik Group pcl was a leading company in the field of digital transformation consulting in Thailand and would benefit from the new era of digital driven business. The company is outstanding because its executives have experiences and expertise in consulting and strategy formulation and it has advanced technology to support its services for clients. The company can compete with foreign consultancies. Its revenue and profit show spectacular growth rates and prove the high growth potential of its business. Besides, it collaborates with OR through a joint venture and this will boost its growth.
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