Samart Telcoms Public Company Limited

Portalnet Company Limited, a subsidiary of Samart Telcoms Public Company Limited, or SAMTEL, has won the bidding and received a letter of notification to sign a contract to develop, install, improve, service and maintain an enterprise resource planning, or ERP, system for the Government Lottery Office, with a total project value of 695 million baht including value-added tax. Watthachai Wilailak, Chief Executive Officer of SAMTEL, disclosed that the Government Lottery Office is a new customer and an important opportunity to expand the customer base and grow the Enterprise Solution business, especially ERP solutions. Winning this job has raised the Samart Telcoms group's backlog to 8,692 million baht, which will be gradually recognized as revenue according to the project timeline. The company continues to pursue and join new bids, focusing on projects in Enterprise Solution, ERP, AI, Digital Infrastructure and Cybersecurity, and if things go according to plan, the group's backlog is expected to potentially reach 10,000 million baht by the end of 2026.

SAMART's backlog has increased to approximately 16 billion baht after TEDA secured a high-voltage power station construction project worth 1.1 billion baht. Meanwhile, broker Yuanta maintains its normal profit forecast for 2026 at 730 million baht and keeps a Buy recommendation with a target price of 8.70 baht. The backlog at the end of Q2/2026 stood at 14.9 billion baht, up 3% from the previous quarter, comprising about 8 billion baht from SAMTEL, 6.7 billion baht from the Utility & Transport group, and 154 million baht from SDC. The company aims to increase its year-end backlog to 20 billion baht, with a total of 10 billion baht worth of projects pending bidding in the second half of the year. It also expects SAV to recover seasonally, while TEDA remains a key growth driver.

SAMART is confident that second-half 2026 performance will accelerate sharply after first-half net profit of about 280 million baht. The company is moving ahead with new bidding worth a combined ten billion baht, lifting backlog from the current sixteen billion baht toward a target of twenty billion baht by the end of 2026. Meanwhile, SAV is poised to rebound in the third quarter of 2026 on lower fuel costs and recovering flights. SAMTEL is preparing to compete for new work worth nearly seven billion baht, while TEDA's strong performance gives profit a chance to beat its target.