TIDLOR is a leading non-bank financial services provider. Our
products and services are broadly divided into two types (1)
Lending: a full suite of vehicle title loans (motorcycles, cars, and
trucks), and (2) Insurance brokerage services.
| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 18,972.13 | 15,274.41 | 12,047.13 | 10,558.86 |
| Expenses | 12,386.55 | 9,505.91 | 6,973.06 | 5,770.29 |
| Net Profit (Loss) | 3,790.43 | 3,640.17 | 3,168.91 | 2,416.14 |
| Assets | 100,147.94 | 84,727.05 | 66,525.40 | 53,335.52 |
| Liabilities | 71,724.42 | 59,305.09 | 44,120.44 | 41,586.99 |
| Shareholders' Equity | 28,423.52 | 25,421.96 | 22,404.96 | 11,748.54 |
| Operating | -10,710.69 | -14,674.89 | -5,892.80 | -234.97 |
| Investing | -750.04 | -363.08 | -498.57 | -443.06 |
| Financing | 10,925.49 | 13,234.42 | 9,120.88 | 1,496.85 |
| EPS (Baht) | 1.40 | 1.50 | 1.41 | 1.15 |
| GP Margin (%) | ||||
| NP Margin (%) | 19.98 | 23.83 | 26.30 | 22.88 |
| D/E Ratio (x) | 2.52 | 2.33 | 1.97 | 3.54 |
| ROE (%) | 14.08 | 15.22 | 18.56 | 20.57 |
| ROA (%) | 7.12 | 7.63 | 8.47 | 7.88 |
We have created a scalable and flexible distribution and financial
service platform that combines an innovative digital infrastructure
and omnichannel customer experiences. We believe that we have
a different philosophy and approach to our business than our peers
in Thailand. Our approach is focused on forward-looking investments in our (i) Ngern Tid Lor brand, (ii) Technology platform, and (iii) Customer experience, all of which are critical factors to our longer-term success. In order to capture the benefits of digitization in our industry, we have focused our investment on information technology, and believe that this investment will differentiate us from other service providers in this industry.
2024 Guidance: loan portfolio growth rate increased to +10-20%, non-life insurance premium growth rate at +10-20%, NPL target expected to be in the range 1.4-1.8%, and continue expanding and developing both online and offline channels
The Company set its sustainable development goals in line with the UN’s Sustainable Development Goals (SDGs) by adhering to the principles of good corporate governance and placing importance on all stakeholders. Moreover, the Company takes into account the changing contexts covering economic, social, and environmental issues. Thus, the Company identifies and prioritizes economic, social, environmental, and corporate governance issues that affect it, its stakeholders, and its goals, all of which are considered the bases for determining the Company’s business practices and improving its operational potential.
The Company’s sustainability strategy is to develop new technologies and services, such as Ngern Tidlor Application, the Revolving Cash Card (TIDLOR Card), and Areegator platform as well as ESG sustainability management such as recognizing and placing importance on the mitigation of environmental impacts arising from business and service operations, efficient resource utilization, and community and social responsibility.
TIDLOR is continuing to grow strongly to become a market leader
in the vehicle title loan market, and is the rank 1st as a face-to-face retail-focuses insurance broker, under the brand 'PRAKAN TIDLOR'. We have focused and emphasized on technology investment which will differentiate our products and services from others.
2023 performance was in line with the direction of the set targets
- Net profit new high recorded 3,790.4 million baht (+4% YoY), with total revenue of 18,972.1 million baht (+24.2% YoY), driven by the expansion of its 2 main businesses. At the end of 2023, the outstanding loan portfolio amounted to 97,456.5 million baht (+19.9% YoY), while the non-life insurance brokerage continued to grow with a total non-life premium of 8,743.3 million baht (+25.3% YoY)
- Loan portfolio quality was well-controlled. The Non-Performing Loan ratio (%NPL) stood at 1.45%, with an NPL Coverage Ratio at a high level of 282.1%
- Cost-to-income ratio was 54.9%
- 1,678 branches across all 74 provinces nationwide
• TIDLOR CARD, the revolving cash card for existing motorcycle and car title loan customers. This will be a convenient disbursement channel with 24/7 availability for customers to access their loans and financial services via ATMs. The card's adoption continues to increase steadily
• PRAKAN TIDLOR, the insurance brokerage brand is an advanced InsurTech platform that provides insurance products with 0% cash installment for up to 10 months from 16 leading insurance companies via branches and online channels.
• Areegator, an online insurance marketplace platform that
was utilized by individual insurance brokers to offer insurance to
their clients conveniently and swiftly.
• Feature 'Auto insurance renewal' via NTL application.
• Provided technology platform service and invested not over 10% of shares in Somjai 2559 Company Limited, the motorcycle leasing operator and provider of motorcycle dealer services platform
• Newly launched 'heygoody' the self-service digital broker with complete all types of non-life insurance and being Thailand’s
#1 telesales-free brokerage (without telesales call)
• Feature 'E-withdraw', customers can transfer the unused credit line to their bank account via NTL application, without any fees.
• Newly launched 'Land Title Loan'
The Company has focused on creating mechanisms and risk culture to add value and generate sustainable returns to stakeholders under a balance between risks and returns. Thus, the
Company has established policies, and processes, and set a risk management framework that covers all related risks including
controlling and monitoring processes to ensure that they are at an
acceptable level. The Company has clearly separated duties and
responsibilities, and defined risks of each reporting line as well as
emphasized the accuracy and completeness of report and risk management disclosure. There are three key risks as follows:
1. Credit risk management 2. Operational risk management
3. Financial risk management
Awards in the year 2023
- Participated in 'Financial Inclusion in Post-COVID Southeast Asia: Accelerating Impact Beyond Access', with CIIP by Temasek Trust
- Best Insurance Technology
- Best Employer Brand Awards
For more details, please visit: https://www.tidlor.com/en
| as of 28/12/23 | TIDLOR | FIN | SET |
|---|---|---|---|
| P/E (X) | 17.05 | 17.37 | 18.42 |
| P/BV (X) | 2.29 | 1.69 | 1.36 |
| Dividend yield (%) | 1.15 | 3.43 | 3.32 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 63,213.31 | 73,671.41 | 84,642.94 |
| Price (B/Share) | 22.50 | 29.50 | 36.50 |
| P/E (X) | 17.05 | 20.36 | 28.24 |
| P/BV (X) | 2.29 | 2.99 | 3.92 |
