Unit: million Baht 2011 2012 2013 2014 2015 2016 2017 2018
Total revenue 126,437 145,649 150,578 149,329 155,276 152,150 157,722 169,856
Total cost 76,220 88,050 88,936 83,548 84,819 82,992 92,259 103,456
EBITDA 56,622 61,437 63,691 66,427 70,776 60,741 70,498 73,792
Net profit 22,218 34,884 36,274 36,033 39,152 30,667 30,077 29,682
Total asset 86,672 100,968 112,026 126,351 181,761 257,670 284,067 290,505
Total liabilities 47,209 57,426 66,133 79,486 133,268 232,962 233,641 232,836
Total equity 39,464 43,542 45,893 46,865 48,493 42,708 50,427 57,669
Operating cash flow 58,417 62,242 60,553 72,174 69,924 71,538 71,061 75,894
CAPEX 5,707 9,598 28,460 32,562 32,255 47,554 41,108 20,198
Effective tax rate
Earnings before Tax 36,709 45,613 46,237 46,082 49,154 35,864 35,921 35,637
Reported Taxes 14,364 10,714 10,007 10,079 9,999 5,175 5,843 5,923
Reported Tax Rate 39% 24% 22% 22% 20% 14% 16% 17%
Cash Taxes Paid 10,201 11,109 9,224 9,353 8,294 9,902 5,533 6,763
Cash Tax Rate 28% 24% 20% 20% 17% 28% 15% 19%
Growth of revenue and profit (YoY)
Service revenue growth 11.4% 14.8% 3.7% 1.2% 2.2% 1.60% 4.9% 3.8%
Total revenue growth 13.6% 15.2% 3.4% -0.8% 4.0% -2.00% 3.7% 7.7%
EBITDA growth 9.0% 9.0% 4.0% 4.0% 6.5% -14.00% 16% 4.7%
Net profit growth 8.0% 57.0% 4.0% -1.0% 8.5% -22.00% -1.9% -1.3%
Financial ratios
EBITDA margin 45.0% 42.0% 42.0% 44.0% 45.6% 39.90% 44.7% 43.4%
Net profit margin 18.0% 24.0% 24.0% 24.0% 25.2% 20.20% 19.1% 17.5%
EPS (Baht/share) 7.47 11.73 12.20 12.12 13.17 10.31 10.12 9.98
DPS (Baht/share) 8.43 10.90 12.15 12.00 12.99 10.08 7.08 7.08
Current ratio (x) 1.12 1.05 0.77 0.88 0.66 0.46 0.5 0.5
Net debt to EBITDA (x) 0.01 Net cash 0.15 0.29 0.70 1.38 1.4 1.3
Debt to equity (x) 0.56 0.47 0.54 0.79 1.32 2.3 2.2 1.9
Interest coverage (x) 24 45 50 34 30 14 13 12
ROA 31% 37% 34% 31% 25% 13% 10% 10%
ROE 67% 84% 82% 79% 82% 67% 65% 55%

Glossary

  • Operational Data
  • Financial Data
Subscriber Number of registered SIM at ending period whose status is not defined as churn
Postpaid churn Subscribers whose payment status is overdue more than 45 days from due date
Prepaid churn Subscribers who do not refill to extend their validity within 45 days or subscribers who are inactive more than 90 days
Net additions Change of number of subscribers from beginning period to ending period
ARPU excl. IC Consolidated service revenue excluding inbound international roaming and interconnect revenues divided by average of subscriber at the beginning and ending period
ARPU incl.IC Consolidated service revenue excluding inbound international roaming but including net interconnect revenues divided by average of subscriber at the beginning and ending period
MOU Number of billed outgoing minutes generated from voice call including international call usage divided by average subscriber
Churn rate Number of subscriber disconnections in the period divided by the sum of gross new subscribers in the period and the subscribers at the beginning period
Non-voice (data) Services apart from voice i.e. mobile data, contents, messaging and other non-voice services
EBITDA margin EBITDA / Total Revenues
ROE Net Income / Average Equity Between Beginning and Ending Period
Interest Coverage EBIT / Interest Expense
DSCR EBITDA * (1 - Tax Rate) / (One Year Debt and Interest Payment)
Net Debt / EBITDA (Interest Bearing Debt - Cash) / EBITDA
Net Debt / Equity (Interest Bearing Debt - Cash) / Ending Equity
Interest-bearing Debt to Equity Interest Bearing Debt / Ending Equity
Total Liabilities to Equity Ending Total Liabilities / Ending Equity
Free Cash Flow (FCF) Net Cash Flow From Operating Activities - CAPEX
Free Cash Flow Yield Free Cash Flow / (Market Capitalization + Net Debt)