| Unit: million Baht | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019(1) | 2020(2) | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Total cost | 88,050 | 88,936 | 83,548 | 84,819 | 82,992 | 92,259 | 103,456 | 139,640 | 135,179 | 143,154 | 148,525 | 125,387 |
| EBITDA(3) | 61,437 | 63,691 | 66,427 | 70,776 | 60,741 | 70,498 | 73,792 | 78,710 | 89,398 | 91,383 | 89,711 | 93,371 |
| Operating profit | 46,920 | 50,366 | 39,382 | 40,385 | 40,105 | 41,254 | 37,711 | 38,179 | 36,960 | 40,646 | ||
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| Reported Tax Rate | 24% | 22% | 22% | 20% | 14% | 16% | 17% | 17% | 15.6% | 18.2% | 19.2% | 19.2% |
| 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 |
| Cash Tax Rate | 24% | 20% | 20% | 17% | 28% | 15% | 19% | 18% | 20% | 18% | 20% | 19% |
| 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% |
| 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% |
| 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% |
| 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% |
| Financial ratios | ||||||||||||
| EBITDA margin | 42.0% | 42.0% | 44.0% | 45.6% | 39.90% | 44.7% | 43.4% | 43.5% | 51.7% | 50.4% | 48.4% | 49.4% |
| 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% |
| 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 |
| 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 |
| 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 |
| 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) |
| 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 | 1.23 |
| Interest coverage (x) | 45 | 50 | 34 | 30 | 14 | 13 | 12 | 13.3 | 13.5 | 15.5 | 17.2 | 15.2 |
| ROA | 37% | 34% | 31% | 25% | 13% | 10% | 10% | 11% | 8.6% | 7.6% | 7.5% | 7.3% |
| ROE | 84% | 82% | 79% | 82% | 67% | 65% | 55% | 49% | 38% | 34% | 31% | 33% |
| 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 | ||
| Other countries | - | - | - | - | - | - | - | - | - | - | - | |
| Total Revenue | 149,329 | 155,276 | 152,150 | 157,722 | 169,856 | 180,894 | 172,890 | 181,333 | 185,485 | 188,873 | ||
| % Breakdown revenue by country | ||||||||||||
| Thailand | 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% |
(1) Post-TFRS 15
(2) Post-TFRS 16
(3) EBITDA restated since 2021
(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 | Operating Profit / Interest Expense |
| 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 |