G-Able PCL

GABLE is transforming its business with an SI plus Solution model to ride the AI and cybersecurity wave, while carrying a record-high backlog of 7.318 billion baht. Chief Executive Officer Dr. Chaiyuth Chunnahacha said the company focuses on delivering solutions that offer value for money and has its own intellectual property software platforms in the medical and financial sectors, which generate gross margins as high as 50 to 60 percent, and has begun pilot expansion into Malaysia. The company is also benefiting from AWS setting up data centers in Thailand, which is supporting domestic demand for cloud migration, and is focusing on proactive cybersecurity under CyberGenics Company Limited, which partners with a Singapore-based ally while negotiating partnerships in Singapore and Israel to develop next-generation security systems. Chief Financial and Strategy Officer Ms. Raweerat Satchavarodom said that in the first half of 2026, the company posted revenue of 3.117 billion baht, up 10.2 percent, and backlog grew 12 percent from the same period last year. The company targets full-year revenue growth of 5 to 15 percent and is confident it will meet the goal because recurring revenue accounts for about 50 percent of total revenue.

GABLE maintains its 2026 revenue growth target of 5-15%, while keeping gross margin at 18-20% and expecting second-half growth to outperform the first half. Its current backlog stands at 7.318 billion baht, the highest on record and the first time it has reached the 7 billion baht level. More than 55% of the backlog is awaiting delivery in the second half, and the company needs additional sales of around 45% to achieve its full-year revenue target. Ms. Raweerat Satchawarodom, Executive President of Finance and Strategy, said the company targets recurring revenue at 40-50% of total revenue and selling and administrative expenses to revenue at 13-15%. First-half gross margin was around 13.1%, pressured by some customers in a tech refresh cycle investing in hardware, which carries lower margins than services, and by short-term increases in raw material prices. After installation, the company expects higher-margin revenue from installation and maintenance services to provide support. The company continues to seek growth opportunities through acquisitions or M&A, considering synergy, investment value, and technology trends with growth potential and low disruption risk. It sees momentum from investment in AI, data centers, and AI security, which are key components of cloud modernization, while infrastructure investment by financial institutions remains a supporting factor, as more than 40% of the company's customers are in the financial institution segment.

DITTO and GABLE are in agreement that the cybersecurity business is seeing high demand and is becoming the new heart of the digital era. Mr. Thakorn Rattanakamonporn, Chief Executive Officer of DITTO, revealed that the company is fully pursuing this business through its investment in Growpro, which operates a 24-hour CSOC monitoring center and provides end-to-end services for both public and private sectors. He views cybersecurity systems as becoming a fundamental requirement for every organization, no different from accounting systems, and the arrival of AI is further accelerating the need for continuous improvements in defense systems. Meanwhile, Dr. Chaiyuth Chunnahacha, Chief Executive Officer of GABLE, stated that cybersecurity is one of the company's five core portfolios, with this business unit spun off under CyberGenic to create advanced solutions covering monitoring, consulting, and AI-driven penetration testing. Key clients are financial institutions and banks, which are subject to regulations from the Bank of Thailand. This business generates recurring revenue and has a higher profit margin than GABLE's average, which will help lift the company's overall margin as it grows in proportion.