Reporters reported that today (3 Aug 65) the share price of Index Living Mall Public Company Limited or ILM at 11:44 am at 17.50 baht, plus 0.50 baht or 2.94%, the highest price. Level 17.70 baht, the lowest price is 16.80 baht, with a trading value of 50.78 million baht.
Phillip Securities (Thailand) Public Company Limited stated that it recommends “buy” ILM shares with a target price of 2022 at 21.50 baht. 1/2565 with a net profit of 161 million baht and a growth of 57.6% from the same period of 2021 with a net profit of 101 million baht, which is in line with a 13% growth in same-store sales (SSSG) from the same period of 2021 ( not including electrical appliance business)
At the same time, there is still an increase in rental income from the fact that there is no discount to tenants. Including rental income from Com7 Public Company Limited or COM7 and renting more space to shopee, resulting in revenue growth of 4.4% from the same period of 2021, but stable from Q1/22 after the period. June 2022 sales slowdown
Gross profit margin (GPM) rose to 46.1% from Q1/22 due to the continuation of the second increase in raw material costs starting at the end of May 2022 and stockpiling. Raw materials 2 months in advance
However, GPM increased compared to the same period of 2021 due to the termination of the electrical appliance business. which has low margin The selling price has been adjusted by about 10% since January 2022, and the proportion of rental income has increased to offset the higher SG&A/Sales expenses. Compared to the same period of 2021 and compared to the first quarter of 2022, the cost of employees, transportation costs and the cost of automatic variable electricity (Ft) rose to 36.1%.
Previously, Mrs. Kanokwanrat Srimaneesiri, Senior Executive Vice President Accounting and Finance Department and ILM Secretary revealed that in 2022, the company has set a target of double-digit growth from 2021 with sales revenue of 8,317 million baht, in line with same-store sales. that will grow to double digits due to the recovery of consumer purchasing power following the economic conditions and no branch closures like in 2021
Meanwhile, rental income (Rental Income) will grow to double digits, supported by the rental of COM7’s branches that have delivered all the areas according to the contract at the end of January 2022 to replace the Power One area. (Power One) downgraded Plus rents for other areas that have returned after a lot of economic activity is loosened.
For the year 2022, the company has set a total investment budget of approximately 500 million baht, which will be used to invest in increasing the efficiency of machinery in production plants and distribution centers. Renovation of the old branch and opened a new branch: Lat Krabang branch By the end of 2022 with a mixed-use branch format (50% leased), which has been studied as a growth zone. The cost of production can still be controlled at an appropriate level. because it has its own factory