Triple i Logistics Management

Management criteria checks 2/4

Triple i Logistics' CEO is Tipp Dalal, appointed in Mar 2017, has a tenure of 7.75 years. directly owns 18.92% of the company’s shares, worth THB762.55M. The average tenure of the management team and the board of directors is 7.9 years and 8.1 years respectively.

Key information

Tipp Dalal

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	7.8yrs
CEO ownership	18.9%
Management average tenure	7.9yrs
Board average tenure	8.1yrs

Recent management updates

Recent updates

CEO

Tipp Dalal (57 yo)

7.8yrs

Tenure

Mr. Tipp Dalal is Executive Director of Asia Network International Public Company Limited from 2009. Mr. Dalal co-founded Triple i Logistics Public Company Limited in 1991 and serves as its Chief Executive...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Tipp Dalal	CEO & Director	7.8yrs	no data	18.92% THB 762.6m
Viraj Nobnomtham	CFO & Director	7.9yrs	no data	19.08% THB 769.0m
Thanut Thatayanon	Executive Director	no data	no data	1.6% THB 64.5m
Jirod Panacharas	Executive Director	no data	no data	3.44% THB 138.8m
Chalermsak Karnchanawarin	Executive Director	no data	no data	3.71% THB 149.6m
Darunee Rakpongpiboon	Company Secretary & Director	8.1yrs	no data	1.02% THB 41.2m

7.9yrs

Average Tenure

53.5yo

Average Age

Experienced Management: III's management team is seasoned and experienced (7.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Tipp Dalal	CEO & Director	16.9yrs	no data	18.92% THB 762.6m
Viraj Nobnomtham	CFO & Director	16.9yrs	no data	19.08% THB 769.0m
Thanut Thatayanon	Executive Director	16.9yrs	no data	1.6% THB 64.5m
Jirod Panacharas	Executive Director	8.5yrs	no data	3.44% THB 138.8m
Chalermsak Karnchanawarin	Executive Director	6.7yrs	no data	3.71% THB 149.6m
Darunee Rakpongpiboon	Company Secretary & Director	16.9yrs	no data	1.02% THB 41.2m
Apichart Chirabandhu	Independent Director	7.8yrs	฿839.00k	no data
Woodtipong Moleechad	Independent Vice Chairman	7.8yrs	฿1.58m	no data
Vipoota Trakulhoon	Independent Director	7.8yrs	฿829.00k	no data
Krirkkrai Jirapaet	Independent Chairman of the Board	7.8yrs	฿2.09m	no data

8.1yrs

Average Tenure

57.5yo

Average Age

Experienced Board: III's board of directors are considered experienced (8.1 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/21 03:59
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Triple i Logistics Public Company Limited is covered by 6 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Wasu Mattanapotchanart	CGS International
Naruedom Mujjalinkool	Krungsri Securities Public Company Limited
Suwat Saeung	Macquarie Research

Triple i Logistics Management

Management criteria checks 2/4

Key information

Recent management updates

Triple I Logistics Public Company Limited Announces Appointment of Directors of Sub-Committees

Triple i Logistics Public Company Limited, Annual General Meeting, Apr 23, 2024

Less than half of directors are independent

Less than half of directors are independent

Triple i Logistics Public Company Limited, Annual General Meeting, Apr 19, 2022

Triple i Logistics Public Company Limited Announces Resignation of Teeranit Isarangkul Na Ayudhaya as Director

Recent updates

Third quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat

Consensus revenue estimates increase by 13%, EPS downgraded

First half dividend reduced to ฿0.12

Second quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.20 in 2Q 2023)

Triple I Logistics Public Company Limited Announces Interim Cash Dividend for Operating Period from January 1, 2024 to June 30, 2024, Payable on September 5, 2024

New minor risk - Share price stability

Investor sentiment deteriorates as stock falls 15%

First quarter 2024 earnings released: EPS: ฿0.15 (vs ฿0.20 in 1Q 2023)

Triple I Logistics Public Company Limited Announces Appointment of Directors of Sub-Committees

Upcoming dividend of ฿0.18 per share

Consensus revenue estimates fall by 21%

Price target decreased by 7.3% to ฿13.22

Final dividend reduced to ฿0.18

Triple i Logistics Public Company Limited, Annual General Meeting, Apr 23, 2024

Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Triple i Logistics Public Company Limited Proposes Dividend for the Year 2023, Payable on May 16, 2024

Price target decreased by 8.1% to ฿13.92

Third quarter 2023 earnings released: EPS: ฿0.20 (vs ฿0.23 in 3Q 2022)

Now 24% undervalued after recent price drop

Upcoming dividend of ฿0.20 per share at 4.6% yield

Triple i Logistics Public Company Limited (SET:III) announces an Equity Buyback for 25,000,000 shares, representing 3.1% for THB 300 million.

New major risk - Earnings quality

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

New major risk - Revenue and earnings growth

Price target decreased by 12% to ฿15.10

First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Consensus revenue estimates decrease by 16%

Upcoming dividend of ฿0.40 per share at 4.0% yield

Full year 2022 earnings released: EPS: ฿1.25 (vs ฿0.62 in FY 2021)

Less than half of directors are independent

Third quarter 2022 earnings released: EPS: ฿0.23 (vs ฿0.16 in 3Q 2021)

Price target decreased to ฿18.30

Now 20% undervalued after recent price drop

Upcoming dividend of ฿0.15 per share

Triple i Logistics Public Company Limited Announces Interim Dividend For Operating Period from 01 January 2022 to 30 June 2022, Payable on 09 September 2022

Second quarter 2022 earnings: EPS and revenues miss analyst expectations

Now 20% undervalued after recent price drop

Now 20% undervalued after recent price drop

First quarter 2022 earnings: EPS and revenues miss analyst expectations

Less than half of directors are independent

Triple I Logistics Public Company Limited Approves Payment of Dividend for the Year 2021, Payable on May 17, 2022

Upcoming dividend of ฿0.30 per share

Triple i Logistics Public Company Limited, Annual General Meeting, Apr 19, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Triple i Logistics Public Company Limited Proposes Annual Dividend Payment for the Year 2021, Payable on 17 May 2022

Triple i Logistics Public Company Limited Announces Resignation of Teeranit Isarangkul Na Ayudhaya as Director

Third quarter 2021 earnings released: EPS ฿0.17 (vs ฿0.096 in 3Q 2020)

Upcoming dividend of ฿0.10 per share

Price target increased to ฿14.48

Consensus revenue estimates increase to ฿2.53b

Price target increased to ฿11.47

Triple i Logistics Public Company Limited (SET:III) entered into information memorandum to acquire additional 8% stake in A.T.P. Friend Services Co., Ltd. from Thaweechok Saetang, Patcharatorn Thewarit, Satheranat Lapkaiwan and Ekkalak Pintafai for THB 28 million.

Second quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.057 in 2Q 2020)

Investor sentiment improved over the past week

Price target increased to ฿9.58

Consensus revenue estimates increase to ฿2.14b

First quarter 2021 earnings released: EPS ฿0.13 (vs ฿0.037 in 1Q 2020)

Upcoming dividend of ฿0.10 per share

Price target increased to ฿8.20

Analysts increase EPS estimates to ฿0.29

New 90-day high: ฿7.40

Triple i Logistics Public Company Limited, Annual General Meeting, Apr 20, 2021

Full year 2020 earnings released: EPS ฿0.27 (vs ฿0.27 in FY 2019)

Revenue and earnings beat expectations

New 90-day high: ฿6.80

Price target raised to ฿6.40

New 90-day high: ฿6.65

Market bids up stock over the past week

New 90-day high: ฿5.05