Triple i Logistics Public Company Limited (III), a leading regional integrated logistics service provider in Thailand, announced its Q3/2025 operating results, reporting total revenue of THB 614 million and a net profit of THB 101.2 million, representing a robust 37.6% increase quarter-on-quarter (QoQ). The growth was driven by its core (organic) businesses, particularly the Integrated Logistics Management and Air Freight segments, with exceptional performance from Multimodal Warehouse and Airport Truck Link services, which exceeded expectations.
For the first nine months of 2025, III recorded total revenue of THB 1,788 million and net profit of THB 283.4 million, maintaining solid progress in its core operations and gearing up for further growth in the fourth quarter, supported by the high season. Meanwhile, AOT Ground Aviation Services Co., Ltd. (AOTGA) is expected to sign a concession agreement in Q4 after winning the bid to operate as the third ground handling and cargo warehouse service provider at Suvarnabhumi Airport.
Mr. Tipp Dalal, Chief Executive Officer of Triple i Logistics Public Company Limited (III), revealed that in Q3/2025, the Company generated total revenue of THB 614 million, a decline of 3.9% year-on-year (YoY) and 4.5% QoQ, due to lower cargo volumes in certain business units and a decrease in freight rates. Nevertheless, the Company achieved a net profit of THB 101.2 million, up 0.9% YoY and a strong 37.6% QoQ growth.
Key drivers of this quarter’s profit growth were the outstanding performance of III’s core (organic) businesses, which have been continuously developed to reduce dependency on external factors—particularly the Air Freight segment, which benefited from the Multimodal Warehouse (supporting multi-modal connectivity) and the Airport Truck Link that connects Thailand’s three major airports: Suvarnabhumi, Don Mueang, and Phuket. Both services performed beyond expectations, aligning with the Company’s mission to support Thailand’s vision of becoming the Aviation Hub of Asia.
In addition, the Logistics Management segment also delivered strong profitability, while the share of profit from associated companies (inorganic) increased 5.8% QoQ.
For the first nine months (January–September 2025), III recorded total revenue of THB 1,788 million, up 6.6% YoY, driven by growth across all core business segments. Net profit, however, declined 10.8% YoY, mainly due to reduced contributions from inorganic investments, including AOT Ground Aviation Services Co., Ltd. (AOTGA)—invested through SAL Group (Thailand) Co., Ltd. (SAL)—which faced a slowdown in the tourism sector, and Asia Network International Co., Ltd. (ANI), affected by a decrease in e-commerce cargo volume from China earlier in the year.
Looking ahead to Q4/2025, the Company expects to achieve continued growth supported by a solid base in its organic businesses, particularly the Multimodal Warehouse and Airport Truck Link, which are set to expand services into ASEAN markets such as Singapore, Myanmar, and Laos, following successful expansion into Malaysia.
In addition, the Chemical and Dangerous Goods Logistics segment has launched DGP Training, a certified provider of training programs in Air Dangerous Goods Handling, officially accredited by the Civil Aviation Authority of Thailand (CAAT).
These developments, coupled with the onset of the high season for logistics and tourism, are expected to positively contribute to both AOTGA and ANI.
At the same time, III continues to drive its Synergy 360° strategic framework, fostering collaboration across group companies and strategic partners to enhance efficiency, create business opportunities, and optimize cost management—toward achieving sustainable growth.
Furthermore, AOTGA, having won the concession to operate as the third ground handling and cargo warehouse provider at Suvarnabhumi Airport, is expected to sign the contract with Airports of Thailand (AOT) within Q4/2025, with plans to commence operations and begin revenue recognition in the second half of 2026.
Meanwhile, III is progressing with plans to establish its own Cargo Airline, targeting routes with strong demand and profitability potential, expected to begin operations by late 2026.
Triple i Donates Sports Equipment to Four Primary Schools under “Move More = Get More” Project (Year 2)
Continuing to Support Quality Growth for Children and Youth
Triple i continues its commitment to supporting the development of children and youth through ongoing social initiatives. Most recently, the Company donated sports equipment to four public primary schools located near its headquarters and warehouse facilities to encourage physical activity and promote both physical and mental well-being among children in surrounding communities.
The four recipient schools are:
1.Nonsi Primary School (Yan Nawa, Bangkok)
2.Wat Don Mueang School (Don Mueang, Bangkok)
3. Wat Bang Samak School (Chachoengsao)
4. Surao Bang Kasi School (Samut Prakan)
Now in its second consecutive year, the “Move More = Get More” project is filled with smiles and positive energy, made possible through the collective efforts of Triple i’s executives and employees, who share the goal of helping children grow with quality, happiness, and a brighter future.
Although floodwaters in Hat Yai and other southern provinces have begun to recede, information from relief teams on the ground indicates that many people are still facing hardship and remain in urgent need of assistance.
Following earlier donations of funds and essential items, Triple i employees from across all group companies once again joined forces to contribute necessary supplies, including dry food, canned food, milk, basic medicines, clothing, and daily necessities. These items were airlifted from Don Mueang Airport through the support of our partner Teleport for air transportation, and Mukda Air Cargo for local distribution to affected communities in the area.
In addition, drinking water was delivered to the Mirror Foundation to further support flood relief efforts.
We sincerely wish everyone strength during this difficult time and hope the situation returns to normal as soon as possible.
Asia Ground Service (AGS) and Triple i Air Express (TAX), two air cargo companies under the Triple i Group, jointly arranged essential relief supplies, including dry food, daily necessities, and basic medicines. The items were transported by air from Don Mueang to Hat Yai, with logistics support from Teleport, an AirAsia company, and local distribution support in Hat Yai from Mukda Air Cargo, our business partner, to assist those affected by the flooding.
We would like to extend our heartfelt support to everyone impacted and express our deepest condolences for all losses. We sincerely hope the situation will return to normal soon.
Mr. Tipp Dalal (third from right), Chief Executive Officer of Triple i Logistics Public Company Limited (III), received the Training Service Provider Certification from Air Chief Marshal Manat Chavanaprayoon (third from left), Director General of the Civil Aviation Authority of Thailand (CAAT). The certification recognizes DGP Training, a subsidiary of Triple i Group, as a certified provider of Dangerous Goods Training Programs and Competency-Based Assessments (CBTA).
This milestone represents an extension of DGP’s long-standing expertise in integrated hazardous and chemical logistics services, expanding into knowledge transfer and professional training for individuals and organizations involved in air transport of dangerous goods. All programs are designed to comply with international standards set by the International Civil Aviation Organization (ICAO), contributing to enhanced safety and efficiency in Thailand’s air transport sector.
DGP Training has launched its first CAAT-certified program, CBTA 7.1 – Personnel Responsible for Preparing Dangerous Goods Consignments, tailored for operators and personnel engaged in the preparation of dangerous goods for air transport. The next program, CBTA 7.3 – Personnel Responsible for Processing or Accepting Dangerous Goods Consignments, is currently under CAAT’s certification process and will be open for registration soon.
“Triple i” Achieves Highest AAA Rating in SET ESG Ratings by the Stock Exchange of Thailand
Triple i Logistics Public Company Limited has been awarded an AAA rating, the highest level, in the SET ESG Ratings 2025, marking a continued improvement from its AA rating in 2024.
This recognition reflects the Company’s strong commitment to elevating business standards with a comprehensive focus on sustainability across all dimensions — environmental, social, economic, and governance. The Company has also established clear goals and strategic plans to foster participation at every level of the organization, ensuring collective progress toward sustainable development.
Importantly, this achievement serves as a key driving force for Triple i in advancing toward its vision of becoming a leading regional logistics service provider with stable and sustainable growth.
Executives and employees of Triple i joined together to donate blood and platelets to help patients in need through the activity “iii Blood Donation – Giving Blood, Giving Life.” The mobile donation unit was provided by Rajavithi Hospital at our headquarters. This is a meaningful activity that we have continuously organized.
On this occasion, a total of 13,500 cc of blood was collected, which statistically can help up to approximately 90 patients (as each patient requires an average of about 150 cc of blood).
Rajavithi Hospital also noted that blood supplies remain in shortage. Those who are interested are encouraged to donate blood at nearby hospitals to help ensure sufficient reserves for patients in need.
Triple i Hosts Children’s Drawing Contest to Inspire Creativity and Imagination
Triple i organized the final round of a drawing contest for students representing seven public primary schools in the Yan Nawa district under the theme #TheFutureWorld.
This event was not about competing to win first place. Instead, Triple i aimed to provide a creative space where children could freely express their imagination and unleash their creativity. Therefore, there were no first- or second-place prizes—only Outstanding and Excellent awards, which every participating student received.
The activity was strongly supported by our senior leadership, led by Ms. Thipp Dalal, CEO, and Mr. Virach Nobnomtham, CFO, along with members of our Board of Directors, who joined in judging the artworks and presenting scholarships to the students.
Triple i Drawing Contest to Promote Creativity and Imagination – 1st Edition
The competition was conducted in school rounds among seven public primary schools in Yan Nawa, the community where our headquarters is located, to select representatives from each school for the final round held at Triple i’s headquarters.
During the preliminary rounds, more than 200 upper-primary students participated under the theme “My Livable World.” In the final round, 14 student representatives from the seven schools once again showcased their imagination and creative power under the theme “The Future World.”
Triple i is proud to play a role in encouraging creativity and providing a platform for children to express their potential. We remain committed to supporting the quality growth and development of young people in our community.
Participating schools:
Wat Chong Nonsi School, Wat Chong Lom School, Wat Khlong Phum School, Wat Khlong Mai School, Wat Dokmai School, Wat Pariwat School, and Prathom Nonsi School.
HazChem Logistics Management, a Leading Provider of Integrated Hazardous Goods and Chemical Transportation Services under Triple i Logistics (III), Receives the Prime Minister’s Export Award 2025 for Best Service Enterprise – Trade Logistics