ILM’s 2022 Net Profit Hits Record High of THB659 Million, Offering THB0.80 Dividend Payout

Miss Kridchanok Patamasatayasonthi, Managing Director of Index Living Mall Public Company Limited (ILM), Thailand’s leading integrated retailer of furniture and home furnishing products, revealed the Q4/2022 operating results that the company recorded total revenue of 2,470.2 million baht, increased by 4.3% YoY and 11.3% QoQ, despite the company’s termination of home electric sale under the brand of Power One since the beginning of 2022.

Net profit in Q4/2022 was 183.5 million baht, increased by 21.6% YoY and 20.3% QoQ. Total revenue in 2022 was 9,009.0 million baht, increased by 7.1% YoY, with a net profit of 659.1 million baht, increased by 45.4% YoY. The 2022 net profit made a record high since its establishment in 1994. Meanwhile, the recent opening of Index Living Mall and Little Walk Lat Krabang in December 2022 received good feedback, with sales of Index Living Mall reaching the target and Little Walk having a 100% occupancy rate.

Miss Kridchanok further clarified that the company’s 2022 net profit already surpassed 2019’s, the year before the COVID-19 outbreak, by 10.6%, after continuously adjusting sales strategies and introducing new products to match the behavior of consumers, together with effective cost management. The company also has been paying dividends to shareholders regularly and constantly since listing on the stock exchange of Thailand on 26 July 2019.

Lately, the company announced a dividend payment for the 2022 operating results at the rate of 0.80 baht per share, an increase from the 2021’s of 0.55 baht per share, representing the dividend payout ratio as high as 61.3%, the same rate as the previous year. As the company has already paid an interim dividend of 0.20 baht per share to shareholders, the remaining 0.60 baht per share will be proposed to the shareholders’ meeting for approval on 26 April 2023.

Despite the global economic slowdown risks, Thai economy in 2023 is likely to continue to expand. The main supporting factors include the government’s stimulus measures and significant recovery of foreign tourists, especially after China reopened the country on 8 January 2023, while domestic investment tends to expand decently. Several positive economic outlook indicators will help boost consumer confidence and increase domestic consumption.

Meanwhile, the company is committed to driving its future performance to grow continuously. The company’s store expansion plan includes a new community mall, Little Walk – Krungthep Kreetha, in Q3/2023 and 3 new stores of Index Living Mall during 2023 – 2024, which will help drive the company’s operating results in 2023 to grow as targeted, concluded Miss Kridchanok.