Financial Highlights

Consolidated Financial Results

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2017 2016 2015
Service revenues1/ (Million Baht) 97,025 88,058 74,803
Total revenues (Million Baht) 141,290 124,719 118,781
EBITDA (Million Baht) 39,912 25,071 22,109
Operating profit (Million Baht) 6,440 (492) 4,608
Net profit (loss) to shareholder (Million Baht) 2,323 (2,814) 4,412

Consolidated Balance Sheets

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2017 2016 2015
Total assets (Million Baht) 465,311 448,960 283,525
Total liabilities (Million Baht) 331,108 317,233 208,318
Total shareholders' equity (Million Baht) 134,203 131,728 75,207

Liquidity Ratios

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2017 2016 2015
Current Ratio (Times) 0.60 0.76 0.69
Quick Ratio-Accrual Basis (Times) 0.34 0.52 0.39

Activity Ratios 2/

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2017 2016 2015
Receivable Turnover Ratio (Times) 3.67 3.80 3.44
Average Collection Period (Days) 98 95 105
Inventory Turnover Ratio (Times) 2.23 2.97 3.50
Average Inventory Turnover Period (Days) 162 121 103
Payable Turnover Ratio (Times) 1.54 1.82 2.26
Average Payment Period (Days) 234 198 160
Cash Cycle (Days) 26 18 48

Leverage Ratios

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2017 2016 2015
Net Debt to EBITDA 3/ (Times) 2.54 2.45 3.67
Net Debt to Equity 3/ (Times) 0.75 0.47 1.08
Total Liabilities to Total Equity Ratio (Times) 2.47 2.41 2.77
Interest coverage ratio 4/ (Times) 6.61 5.25 7.27

Profitability Ratios

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2017 2016 2015
Gross Profit Margin (%) 27.90 23.35 23.74
Net Profit Margin (%) 1.64 (2.26) 3.71
Return on Equity 5/ (%) 1.76 (2.74) 6.10

Growth Ratios

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2017 2016 2015
Total Assets (%) 3.64 58.35 21.11
Total Liabilities (%) 4.37 52.28 27.51
Total Revenues (%) 13.29 5.00 8.76
Total Operating Expenses 6/ (%) 7.70 9.67 7.41

Per Share Data and Others

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2017 2016 2015
Profit (loss) per share (Baht) 0.07 (0.10) 0.18
Book value per share (Baht) 4.02 3.95 3.06
Share price at the end of period (Baht) 6.20 7.15 6.70
No. of outstanding shares at year end (Million Shares) 33,368 33,368 24,608
Market capitalization (Million Baht) 206,883 238,583 164,873

1/ Revenues from telephone and other services excluding interconnection (IC) revenue and network rental revenue

2/ Activity ratios exclude contribution from asset sale to DIF to reflect cash cycle of the Company

3/ Debt comprises short-term and long-term borrowings excluding liabilities under finance leases

4/ Interest coverage ratio is derived from EBITDA/ (interest expenses and other financial fee) during the period
By calculating Interest coverage ratio using information from cash flows statement (Net cash flows generated from operating activities + interest paid + income tax paid)/ interest paid),
this ratio was 3.1 times in 2017, 3.8 times in 2016 and 4.2 times in 2015

5/ Return on Equity = Net profit to shareholders of the parent company /Average total parent’s shareholders’ equity

6/ Total Operating Expenses include Costs of Providing Services, Cost of Sales and Selling and Administrative Expenses