TRIS Rating Co., Ltd.Private± Mixed
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TNL reports Q2 2026 profit surge of 97.2%, boosted by lending and distressed debt management
EarningsCorporate Action
Thanulux Public Company Limited reported second-quarter 2026 net profit of 135 million baht, up 97.2% from the same period last year, with a net profit margin of 46.1%, reflecting growth in its secured lending and distressed asset management businesses, as well as a significant reduction in share of loss from the property business. For the first six months of 2026, net profit stood at 250 million baht, up 28.1%, with a net profit margin of 45.8%. The lending business under Oxygen Asset posted second-quarter 2026 revenue of 154 million baht, up 20.3%, and total loans outstanding rose to 6.635 billion baht. Meanwhile, the distressed asset management business under Oxygen Asset Management recorded revenue of 59 million baht, up 25.5%, and won auctions for three corporate non-performing loan portfolios with total outstanding debt of 930 million baht, bringing total portfolio debt to 7.722 billion baht. The property business under TNL Alliance generated revenue of 62 million baht, and the share of loss from joint ventures narrowed to 3 million baht from 56 million baht in the second quarter of last year. In addition, the company received its first corporate credit rating from TRIS Rating at BBB- with a stable outlook, and approved a dividend payment from 2025 earnings of 0.60 baht per share, totaling 183 million baht, up 50% from the previous year.