Bluebik Group Public Company Limited (BBIK), a leading consultancy on end-to-end digital transformation and AI-led enterprise digital transformation, reports its performance in the first quarter of 2025. The parent company generated 72 million baht in net profit, up by 5% year-on-year, and 347 million baht in total revenue, down by 6% from a year earlier. The revenue declined due to reorganization in the group as parts of employees were transferred to joint ventures, yet operating revenue grew continuously, by 3% year-on-year. The reorganization has raised the gross profit margin of the group from 46% to 52% and will be beneficial to the margin in the long run.

The performance in the first quarter of 2025 slowed down from the fourth quarter of 2024 naturally due to the group’s preparation for new bidding contests and the seasonal effect which caused revenue in the late quarter to grow faster than that of other quarters because project implementation was quickly delivered in accordance with the annual budget expenditure of clients. However, BBIK is confident that its business will grow strongly in the second quarter because project delivery will increase according to plans. There are also other positive factors that are supporting the planned business expansion of the group. They include virtual bank development, growing markets in the government sector and results from the new bidding contests that will raise the revenue  backlogfrom the second quarter onwards. As of March 2025, the revenue backlog of the group of companies (including joint ventures) rose to 1,063 million baht. Of it, 866 million baht will be recognized within this year, comprising 683 million baht from the parent company and its subsidiaries and 183 million baht from joint ventures. The remainder will be gradually recognized from 2026 to 2029.

Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited (BBIK), said the performance of BBIK turned out as expected in the first quarter. Normally the first quarter is the time for preparation for new bidding contests and the revision of operation plans and strategies in accordance with the overall economic circumstance. This year businesses face challenges at unprecedented degrees worldwide. However, BBIK is still confident that investment in technology and innovation remains crucial for business organizations, especially for leading players in such industries as banking, finance, retail, insurance and health. They need to cope with the rapid changes of technology development, consumers’ behaviors and business trends.

“Economic uncertainty may cause some organizations to delay or carefully plan their investment. Thus, Bluebik has adjusted its operation plans and service strategies. We focus on changing the strategies of sales and service departments so that the organizations of their clients can create business opportunities, cope with the rapid changes of technology and global contexts and increase efficiency in their own management,” Mr. Pochara said.

The adjusted operation plans and strategies concern the 2 main areas as follows.

1) Service and sales strategies have been adjusted for BBIK to break into new markets and expand services for existing clients.

• Sales personnel enhance their efficiency and seriously approach clients with growth potential in the government sector. BBIK expects to raise revenue contribution from the government sector to more than 8% this year from 5% last year and expand services for existing clients by introducing tailor-made services.
• Excellence in end-to-end digital transformation services is highlighted. It ranges from the formulation of business strategies to expertise in technology and innovation. BBIK emphasizes AI-led enterprise digital transformation which concerns the application of artificial intelligence to support thorough business transformation. This is to help clients deal with business operations in the future when AI is a major component. BBIK supports clients in preparing their technology and business strategies and developing IT infrastructures, applications, advanced AI models and personnel.

2) Intra-organizational management is upgraded for cost reduction and efficiency 

• The management of Bluebik’s IT personnel is improved systematically to keep a balance between the number of IT experts and long-term demand for digital transformation in Thailand and other countries.
• Efficiency has been boosted when it comes to collaboration between the parent company and subsidiaries. This happens through the reorganization of business units and the increase in the utilization rate of subsidiaries. 
• Employees participate in upskilling and reskilling programs to reduce the cost of outsourcing. 

To achieve its long-term growth, BBIK will enhance its capacities to implement largescale projects, expand services and grow its customer bases through collaboration with the business partners that have networks in many countries. In addition, BBIK is preparing for its listing on the Stock Exchange of Thailand (SET) in the middle of this year.

“Regarding its strong growth over the past 11 years, the group is confident that it can successfully handle economic challenges this year as it has always done. For this year, the group is continuously determined to develop its end-to-end services concerning digital transformation and AI-led enterprise digital transformation to meet the technology demand that will eventually return to normal. This is because steady technology development is crucial especially as the world of business is reaching a turning point where AI significantly drives it,” Mr. Pochara concluded.

For more information about Bluebik, please visit www.bluebik.com. The group also shares updates through its “Bluebik Group” account on Facebook and LinkedIn.