FORTH expects revenue in 2023 to grow in all businesses, offering for more than 6.8 billion baht, expanding the flying turtle cabinet to double the size of 10,000 cabinets, with the aim of expanding more overseas markets.
Mr Chatchawin Pipatchotham Assistant Chairman of the Executive Board, Forth Corporation Public Company Limited or FORTH revealed at the Opportunity Day event that the company has set its 2023 revenue growth target for all businesses. The electronic components procurement and assembly (EMS) business expects revenue of 5,550 million baht, an increase of 4,000 million baht from the previous year million US dollars. an increase of almost 10%.
As for the Enterprise Solutions business, this year there will be additional project proposals from the government sector. There are works the company will bid for this year with a total value of about 6,887 million baht, expecting to receive work this year and next year. It will add value to the company’s backlog from the current backlog of approximately 1,634 million baht, gradually recognizing 80-90% of revenue this year, with the rest being realized next year.
The automatic cafe vending machine business, the “Flying Turtle” brand, is still the business that drives the company’s performance this year, with a profit of 216 million baht in 2022. By the end of 2023 there will be an additional 5,000 cabinets from the end 2022 with 4,942 flying turtle cabinets in service and will increase the number of cabinets to 20,000 in the future.
Currently, the average sales volume is 46 glasses / day / container, the average price of drinks is 32 baht / glass / container, confirming plans to expand the flying turtle market to foreign countries as well. The first country to be launched is Malaysia, Singapore, followed by Indonesia and Australia. is in the process of looking for a partner
However, full expansion will have to wait until two new factories are completed in April and production can begin in May 2023.
“Still see the opportunity and believe in the flying turtle business. Therefore, additional investments will be made to support the expansion of the flying turtles,” said Mr Chatchawin.
