WICE Logistics Public Company Limited (WICE) has reported strong 9-month performance, with revenue growth of 8.8% despite challenges in the Cross-Border business. The company’s core businesses, including sea and air transport, continue to show positive trends, with revenue from international expansion boosting overall performance. WICE expects full-year revenue growth to reach at least 20%.

Mr. Chudet Kongsoonthorn, Group Managing Director of Business Development at WICE Logistics, a leading provider of integrated international logistics services, announced that the company’s total revenue for the first nine months of the year was 3,168 million baht, reflecting a 8.8% increase. Net profit reached 131 million baht, decrease 12.7%. For Q3/2024, WICE reported revenue of 1,131 million baht and net profit of 18 million baht.

Q3 performance saw a slight decline, primarily due to the Cross-Border business, which was affected by the strengthened baht and rising fuel prices in Malaysia, impacting costs significantly. However, WICE’s core business remains on a positive trajectory, with import and export volumes for sea and air transport close to last year’s levels. Shipping rates have decreased but are expected to remain stable through the end of 2024, in line with company projections.

For the 2024 full-year performance, WICE is confident it will achieve no less than 20% growth, supported by increased import/export volumes and better shipping rates than in 2023. Although external factors may arise, the company remains committed to its strategic plan and its ongoing international network expansion, aiming to create a comprehensive logistics system that spans the region and provides solutions that meet evolving customer needs.

Mr. Chudet added, “We expect this year’s results to meet our targets, and we anticipate additional growth in 2025. This growth will be driven by the progress of projects already generating revenue and by expanding into promising new international markets with high growth potential and attractive margins.”

This expansion and commitment to seamless logistics solutions reflect WICE’s strategy of sustained growth and customer-focused innovation across the region.