1. Operate the complete furniture and home furnishing retail business in Thailand. under the brand "Index Living Mall" stores and other retail store brands, including distributing products through both online and offline channels that covers both domestic and overseas customers.
2. Operate retail rental space business under the form of a community mall under the brands "The Walk", "Little Walk" and "Index Mall", including rental space in Index Living Mall branches.
| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 9,412.85 | 8,996.01 | 8,410.57 | 8,192.58 |
| Expenses | 8,337.84 | 8,013.63 | 7,638.29 | 7,419.73 |
| Net Profit (Loss) | 725.98 | 659.06 | 453.17 | 421.23 |
| Assets | 12,324.47 | 12,031.55 | 12,356.00 | 12,951.05 |
| Liabilities | 6,345.94 | 6,363.57 | 7,044.89 | 7,871.41 |
| Shareholders' Equity | 5,964.70 | 5,667.97 | 5,309.82 | 5,078.35 |
| Operating | 1,669.85 | 1,777.74 | 1,808.82 | 2,085.38 |
| Investing | -541.59 | -400.15 | -149.74 | -332.57 |
| Financing | -931.96 | -1,409.88 | -1,658.44 | -2,171.34 |
| EPS (Baht) | 1.44 | 1.31 | 0.90 | 0.83 |
| GP Margin (%) | 46.01 | 45.13 | 43.20 | 45.73 |
| NP Margin (%) | 7.68 | 7.33 | 5.39 | 5.14 |
| D/E Ratio (x) | 1.06 | 1.12 | 1.33 | 1.55 |
| ROE (%) | 12.48 | 12.01 | 8.72 | 8.39 |
| ROA (%) | 8.86 | 8.16 | 6.13 | 6.19 |
· The Company plans to continuously expand the Index Living Mall branches, the current 31 branches and expects to open the new 1-2 branches within 2024.
· Increase rental spaces by 5,000 - 8,000 sqm per year and plan to open the new rental space 1-2 branches within 2024.
· Collaborate with more business partners to create new products and services and expand distribution channels.
· Improve and develop efficiently including expanding online platforms, collaborating with platform partners and marketplace, together with the right marketing campaigns for online channel to response to the customers’ needs and to boost sales.
The Company operates the business under sustainable development guidelines covering the dimensions of corporate governance and economy, social, and environmental. The Company formulates the 3G sustainability strategy as a framework, consisting of Great Experience (creating good experiences from products and services), Grow Together (creating happiness and good quality of life together with responsibility), and Green Planet (caring and passing on the sustainable environment to society).
The Company is one of the leading retailers of furniture and home furnishing products in Thailand, which has an integrated supply chain from its production plant to various distribution channels covering nationwide. The Company has its own in-house product development team and production plant, allowing it to manage product quality and costs effectively, including the flexibility to develop, produce new products, and create innovative products without limitations.
At the end of 2023, the Company currently had 31 Index Living Mall stores, covering major cities throughout Thailand, plus other retail store brands, and dealer stores in secondary cities across the country. The Company also has overseas Index Living Mall franchise stores in 8 countries, including Vietnam, Indonesia, Cambodia, Laos, Myanmar, Nepal, Maldives, and Pakistan.
For the retail rental space business, the Company had 3 medium-sized community mall “The Walk” and 4 small-sized community mall “Little Walk”, plus rental spaces in Index Living Mall stores.
In 2023, the Company recorded a profit for the Company of Baht 726.0 million, an increase of 10.2% YoY. The revenue from sales of products in 2023 was divided by distribution channels as follows.
1. Retail 79.2%
2. Online 12.3%
3. Domestic Project 6.0%
4. Dealers 1.0%
5. Overseas (franchise, project, and OEM) 1.5%
1994: Founded and registered on 15 February 1994 under the name “Bangkok Franchise Co., Ltd”.
2004: Renamed to Index Living Mall Co., Ltd.
2009: Expanded overseas business
2012: Expanded business to rental business providing rental spaces
2019: Listed on the Stock Exchange of Thailand on 26 July 2019
2023: Established a new joint venture company "Bulk Bulk Co., Ltd.", to provide delivery, assembling, and installation services of furniture, electric appliances, and other products in Thailand.
The Company places importance on risk management by closely monitoring the situation and analyzing business trends regularly to manage and adjust business operations in a timely manner. The Company also focuses on collaboration with business partners to enhance the potential to create new products and expand distribution channels, along with the Company’s product development strategies that create differentiation and deliver value to customers responsibly.
Furthermore, the Company broadened the scope of its risk assessment to cover environmental, social, and corporate governance (ESG) risks at the corporate level as the starting point for the organization’s journey toward sustainable business development.
The company was selected as one of the sustainable stocks or SET ESG Ratings for the year 2023.
Received a 5-star rating or 'Excellent' CG Scoring in 2023, for the fourth consecutive year.
The Company received the Outstanding Investor Relations Awards 2022 from SET Awards 2022 from the group of listed companies on the Stock Exchange of Thailand, with a market capitalization of more than 3,000 million baht but not more than 10,000 million baht.
| as of 28/12/23 | ILM | COMM | SET |
|---|---|---|---|
| P/E (X) | 16.93 | 27.98 | 18.42 |
| P/BV (X) | 2.09 | 2.06 | 1.36 |
| Dividend yield (%) | 3.35 | 1.87 | 3.32 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 12,069.50 | 9,393.00 | 9,393.00 |
| Price (B/Share) | 23.90 | 18.60 | 18.60 |
| P/E (X) | 16.93 | 14.99 | 21.10 |
| P/BV (X) | 2.09 | 1.71 | 1.82 |
