Index Living Mall Public Company Limited (SET: ILM) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
453.174 | 421.234 |
| Earning Per Share (Baht) | 0.90 | 0.83 |
| % Change | 7.6 | |
ILM reported a net profit of THB453.2 million in 2021, increased by 7.6% YoY, with the following key matters:
1) Higher operating revenue by 2.4%YoY, from an increase in both sales and revenue from rental and rendering of services, despite the worse situation of COVID-19 outbreak in 2021 than in 2020
2) Lower gross profit margin from sale mainly due to 1) a higher cost of particle board, which is a major raw material for furniture production; 2) lower proportion of retail sales which contributed to high-profit margin but a higher proportion of low-profit margin products, e.g., overseas OEM sales and clearance sale of slow-moving goods in early 2021; 3) clearance sale before closing Index Furniture Center -Fashion Island store due to the expiration of the lease agreement; 4) full-amount allowance for diminution in value of home electric inventories for preparation to transfer the rental spaces to COM7; 5) sales promotion during the year-end festive seasons. However, ILM has already increased selling prices since April 2021 to compensate for the higher cost of particle board.
3) Improved gross profit margin from rental and rendering of services supported by lower discounts given to tenants compared to last year. Plus, the company has been getting more diversified tenants and effective cost management.
4) Lower SG&A despite the higher operating revenue supported by continuous cost improvement, e.g., employee expenses.
5) Decreased finance costs by 16.7% YoY supported by continuous long-term loans prepayment.
