Demco revenue rises amid green growth
Firm chased more projects in Q4
SET-listed Demco, a contractor and engineering service provider, is continuing to rack up revenue in the final quarter, helped by a recent contract to build electricity transmission systems worth 270 million baht.
The contract, awarded by Siam Power Generation in Rayong, includes the construction of a 230/115 kilovolt (kV) substation with 230kV underground systems and a 115kV transmission line.
Construction is scheduled for completion in early 2026, said Pongsak Sirikupt, chief executive and managing director of Demco.
The contract is part of Demco’s plan to increase revenue in the fourth quarter this year.
“We have to drive growth in the fourth quarter by bidding for new projects in the state and private sectors,” said Mr Pongsak.
He said the company has an opportunity to grow more revenue in the final quarter, following an outstanding performance in the third quarter.
From July to September, the company posted a net profit of 62.5 million baht, an increase of 248% year-on-year, said Mr Pongsak.
For the first nine months of this year, Demco’s net profit was 20.5 million baht, a year-on-year increase of 311%.
The company is committed to clearing a backlog worth 3.15 billion baht, with 3 billion baht coming from electrical engineering work and the remainder from jobs related to communication and signalling, as well as renewable energy.
He said Demco is seeking new opportunities in businesses related to smart grids, energy storage systems, battery-powered vehicles and carbon credit trade.
Carbon credits refer to the amount of carbon dioxide emissions reduced by environmental projects, including clean energy development and environmentally friendly businesses. The credits can be sold to other companies to offset the carbon dioxide they release into the air.
Demco announced earlier it plans to diversify into digital technology businesses and continue to grow its renewable energy portfolio.
The company is keen to diversify into new energy businesses, especially those applying digital technology such as smart grid development.
Source: https://www.bangkokpost.com/business/general/2918260/demco-revenue-rises-amid-green-growth
