Dexon TechnologyRayong, Thailand – February 19, 2024 – Dexon Technology plc announced the results of a strong 2024.
For 2024, Dexon reported:
A total revenue of 757 million Baht, an increase of 110 million Baht or 17% over last year.
An increase of in-line inspection revenue to 335 million Baht, increasing 37% in part due to expanded operations overseas.
An increase of 88 million Baht in revenue from RDE—a 104% increase from the previous year.
These results mark the highest revenue in the company’s history and signal the success of the company’s strategy over the last year.
Multiple Streams Boost Revenue
Dexon’s outstanding revenue showings came from multiple sources:
Expansion Into International Markets: Dexon has established multiple subsidiaries throughout the globe, including Singapore, Europe, and America. International operations, supported by agents in Argentina, the Phillipines, and Indonesia, brought additional revenue streams through greater market reach and flattened fluctuations caused by seasonality.
Research and Development: Dexon collaborated with the global leading energy suppliers to research and produce the latest generation of inspection technology, with t e main partners located in the Middle East and America. Dexon also won the award for the Best Innovative Company from the Stock Exchange of Thailand for the second year in a row, demonstrating the company’s strength in innovation.
Dexon Aims for 900 Million Baht Revenue in 2025
Moving forward, Dexon will continue to pursue its long-term goal of diversifying revenue streams and reducing seasonality.
The main driver of the increase will be Dexon’s core business: ILI, NDT, and RDE.
Dexon will push further into international markets to expand reach, increase revenues, and decrease seasonality.
The company’s primary client, oil and gas operators throughout the supply chain, will continue to regularly inspect their infrastructure, as required by law and company policy.
In addition, Dexon has secured a three-year, three-month contract valued at over 300 million Baht with one of Thailand’s largest energy providers.
With increased assets, stronger presences in global regions, and a large, long-term contract with a domestic operator, Dexon will be better positioned offer more clients more services. The company is confident that it will reach its target of 900 million Baht by 2025.