| Unit: million Baht | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019(1) | 2020(2) | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 145,649 | 150,578 | 149,329 | 155,276 | 152,150 | 157,722 | 169,856 | 180,894 | 172,890 | 181,333 | 185,485 | 188,873 | 213,569 |
| Total cost | 100,008 | 103,812 | 102,409 | 104,910 | 112,768 | 117,336 | 129,751 | 139,640 | 135,179 | 143,154 | 148,525 | 148,365 | 163,185 |
| EBITDA(3) | 61,437 | 63,691 | 66,427 | 70,776 | 60,741 | 70,498 | 73,792 | 78,710 | 89,398 | 91,383 | 90,351 | 94,404 | 113,243 |
| Operating profit | 46,920 | 50,366 | 39,382 | 40,385 | 40,105 | 41,254 | 37,711 | 38,179 | 36,960 | 40,508 | 50,385 | ||
| Net profit | 34,884 | 36,274 | 36,033 | 39,152 | 30,667 | 30,077 | 29,682 | 31,190 | 27,434 | 26,922 | 26,011 | 29,086 | 35,075 |
| Total asset | 100,968 | 112,026 | 126,351 | 181,761 | 275,670 | 284,067 | 290,505 | 289,669 | 350,171 | 356,222 | 337,044 | 454,439 | 431,432 |
| Total liabilities | 57,426 | 66,133 | 79,486 | 133,268 | 232,962 | 233,641 | 232,836 | 220,275 | 274,481 | 274,397 | 251,227 | 363,761 | 334,108 |
| Total equity | 43,542 | 45,893 | 46,865 | 48,493 | 42,708 | 50,427 | 57,669 | 69,394 | 75,689 | 81,825 | 85,816 | 90,678 | 97,324 |
| Debt to Equity (x) | 1.32 | 1.44 | 1.70 | 2.75 | 5.45 | 4.63 | 4.04 | 3.17 | 3.63 | 3.35 | 2.93 | 4.01 | 3.43 |
| Operating cash flow | 62,242 | 60,553 | 72,174 | 69,924 | 71,538 | 71,061 | 75,894 | 83,349 | 92,104 | 92,415 | 87,762 | 94,637 | 125,036 |
| CAPEX | 9,598 | 28,460 | 32,562 | 32,255 | 47,554 | 41,108 | 20,198 | 23,029 | 28,057 | 25,786 | 32,319 | 37,088 | 25,262 |
| Effective tax rate | |||||||||||||
| Earnings before Tax | 45,613 | 46,237 | 46,082 | 49,154 | 35,864 | 35,921 | 35,637 | 37,402 | 32,526 | 32,894 | 32,182 | 35,998 | 43,069 |
| Reported Taxes | 10,714 | 10,007 | 10,079 | 9,999 | 5,175 | 5,843 | 5,923 | 6,209 | 5,089 | 5,970 | 6,168 | 6,909 | 7,992 |
| Reported Tax Rate | 24% | 22% | 22% | 20% | 14% | 16% | 17% | 17% | 15.6% | 18.1% | 19.2% | 19.3% | 19.0% |
| Cash Taxes Paid | 11,109 | 9,224 | 9,353 | 8,294 | 9,902 | 5,533 | 6,763 | 6,721 | 6,474 | 5,781 | 6,357 | 6,997 | 8,414 |
| Cash Tax Rate | 24% | 20% | 20% | 17% | 28% | 15% | 19% | 18% | 20% | 18% | 20% | 19% | 20% |
| Growth of revenue and profit (YoY) | |||||||||||||
| Service revenue growth | 14.8% | 3.7% | 1.2% | 2.2% | 1.60% | 4.9% | 3.8% | 5.7% | -4.5% | 1.0% | 0.8% | 4.2% | 17% |
| Total revenue growth | 15.2% | 3.4% | -0.8% | 4.0% | -2.00% | 3.7% | 7.7% | 8.3% | -4.4% | 4.9% | 2.3% | 1.8% | 13% |
| EBITDA growth | 9.0% | 4.0% | 4.0% | 6.5% | -14.00% | 16% | 4.7% | 5.6% | 13.6%(1) | 2.2% | -1.8% | 4.1% | 20% |
| Net profit growth | 57.0% | 4.0% | -1.0% | 8.5% | -22.00% | -1.9% | -1.3% | 2.7% | -12.0%(2) | -1.9% | -3.4% | 12% | 21% |
| Financial ratios | |||||||||||||
| EBITDA margin | 42.0% | 42.0% | 44.0% | 45.6% | 39.90% | 44.7% | 43.4% | 43.5% | 51.7% | 50.4% | 48.7% | 50.0% | 53.0% |
| Net profit margin | 24.0% | 24.0% | 24.0% | 25.2% | 20.20% | 19.1% | 17.5% | 17.2% | 15.9% | 14.8% | 14.0% | 15% | 16% |
| EPS (Baht/share) | 11.73 | 12.20 | 12.12 | 13.17 | 10.31 | 10.12 | 9.98 | 10.49 | 9.23 | 9.05 | 8.75 | 9.78 | 11.79 |
| DPS (Baht/share) | 10.90 | 12.15 | 12.00 | 12.99 | 10.08 | 7.08 | 7.08 | 7.34 | 6.92 | 7.69 | 7.69 | 8.61 | 10.61 |
| Current ratio (x) | 1.05 | 0.77 | 0.88 | 0.66 | 0.46 | 0.5 | 0.5 | 0.45 | 0.45 | 0.39 | 0.36 | 0.31 | 0.48 |
| Net debt to EBITDA (x) | Net cash | 0.2 | 0.3 | 0.7 | 1.4 | 1.4 | 1.3 | 0.9 | 0.9 | 0.8 | 0.8 | 1.1(4) | 0.8 |
| Net debt to equity | 0.47 | 0.54 | 0.79 | 1.32 | 2.3 | 2.2 | 1.9 | 1.36 | 1.0 | 0.9 | 0.9 | 1.2 | 0.9 |
| Interest coverage (x) | 15.3 | 16.4 | 17.3 | 15.4 | 12.3 | ||||||||
| ROA | 37% | 34% | 31% | 25% | 13% | 10% | 10% | 11% | 8.6% | 7.6% | 7.5% | 7.3% | 7.9% |
| ROE | 84% | 82% | 79% | 82% | 67% | 65% | 55% | 49% | 38% | 34% | 31% | 33% | 37% |
| Breakdown revenue by country | |||||||||||||
| Thailand | 149,329 | 155,276 | 152,150 | 157,722 | 169,856 | 180,894 | 172,890 | 181,333 | 185,485 | 188,873 | 213,569 | ||
| Other countries | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Revenue | 149,329 | 155,276 | 152,150 | 157,722 | 169,856 | 180,894 | 172,890 | 181,333 | 185,485 | 188,873 | 213,569 | ||
| % Breakdown revenue by country | |||||||||||||
| Thailand | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | ||
| Other countries | - | - | - | - | - | - | - | - | - | 0% | 0% | 0% | - |
| Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
(1) Post-TFRS 15
(2) Post-TFRS 16
(3) EBITDA definition is revised to include other income, finance income, and share of profit. Hence, the previous reported numbers have been restated from 2022 with the new definition.
(4) EBITDA in ratio is annualized from 46 days of 3BB EBITDA
Glossary
| 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 60 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 |
| 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 |
| ARPU | Consolidated service revenue excluding inbound international roaming and 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 |
| VOU | Number of billed gigabytes generated from subscriber divided by average subscriber |
| EBITDA margin | EBITDA / Total Revenues |
| Interest-Bearing Debt to Equity | Interest Bearing Debt / Ending Equity |
| Net Debt to Equity | (Interest Bearing Debt - Cash) / Ending Equity |
| Net Debt to EBITDA | (Interest Bearing Debt - Cash) / EBITDA |
| Net Debt to EBITDA (Incl. lease liability and spectrum license payable) | (Interest Bearing Debt + Lease Liability + Spectrum License Payable - Cash) / EBITDA |
| Interest Coverage | EBITDA / Finance cost |
| DSCR | EBITDA * (1 - Tax Rate) / (Debt Repayment in 1 Year + Interest expense annualized) |
| ROA | Net Profit / Average Asset Between Beginning and Ending Period |
| ROE | Net Profit / Average Equity Between Beginning and Ending Period |
| Free Cash Flow (FCF) | Net Cash Flow From Operating Activities - CAPEX - Lease Liability Paid |
| Debt to Equity Ratio (x) | Total Liability / Total Equity |