Unit: million Baht 2012 2013 2014 2015 2016 2017 2018 2019* 2020** 1Q21
Total revenue 145,649 150,578 149,329 155,276 152,150 157,722 169,856 180,894 172,890 45,861
Total cost 88,050 88,936 83,548 84,819 82,992 92,259 103,456 139,640 135,179 36,249
EBITDA 61,437 63,691 66,427 70,776 60,741 70,498 73,792 78,710 89,398 22,580
Operating profit     46,920 50,366 39,382 40,385 40,105 41,254 37,711 9,613
Net profit 34,884 36,274 36,033 39,152 30,667 30,077 29,682 31,190 27,434 6,644
Total asset 100,968 112,026 126,351 181,761 275,670 284,067 290,505 289,669 350,171 363,733
Total liabilities 57,426 66,133 79,486 133,268 232,962 233,641 232,836 220,275 274,481 292,076
Total equity 43,542 45,893 46,865 48,493 42,708 50,427 57,669 69,394 75,689 71,657
Operating cash flow 62,242 60,553 72,174 69,924 71,538 71,061 75,894 83,394 92,104 21,246
CAPEX 9,598 28,460 32,562 32,255 47,554 41,108 20,198 23,029 28,057 5,304
Effective tax rate
Earnings before Tax 45,613 46,237 46,082 49,154 35,864 35,921 35,637 37,402 32,526 8,121
Reported Taxes 10,714 10,007 10,079 9,999 5,175 5,843 5,923 6,209 5,089 1,477
Reported Tax Rate 24% 22% 22% 20% 14% 16% 17% 17% 15.6% 18.2%
Cash Taxes Paid 11,109 9,224 9,353 8,294 9,902 5,533 6,763 6,721 6,474 481
Cash Tax Rate 24% 20% 20% 17% 28% 15% 19% 18% 20% 5.9%
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% -2.0%
Total revenue growth 15.2% 3.4% -0.8% 4.0% -2.00% 3.7% 7.7% 8.3% -4.4% 7.0%
EBITDA growth 9.0% 4.0% 4.0% 6.5% -14.00% 16% 4.7% 5.6% 13.6%** -0.9%
Net profit growth 57.0% 4.0% -1.0% 8.5% -22.00% -1.9% -1.3% 2.7% -12.0%** -1.7%
Financial ratios
EBITDA margin 42.0% 42.0% 44.0% 45.6% 39.90% 44.7% 43.4% 43.5% 51.7% 49.2%
Net profit margin 24.0% 24.0% 24.0% 25.2% 20.20% 19.1% 17.5% 17.2% 15.9% 14.5%
EPS (Baht/share) 11.73 12.20 12.12 13.17 10.31 10.12 9.98 10.49 9.23 2.23
DPS (Baht/share) 10.90 12.15 12.00 12.99 10.08 7.08 7.08 7.34 6.92 -
Current ratio (x) 1.05 0.77 0.88 0.66 0.46 0.5 0.5 0.45 0.4 0.4
Net debt to EBITDA (x) Net cash 0.15 0.29 0.70 1.38 1.4 1.3 0.92 0.9 0.83
Debt to equity (x) 0.47 0.54 0.79 1.32 2.3 2.2 1.9 1.36 1.0 1.0
Interest coverage (x) 45 50 34 30 14 13 12 13.3 14 16
ROA 37% 34% 31% 25% 13% 10% 10% 11% 8.6% 7%
ROE 84% 82% 79% 82% 67% 65% 55% 49% 40% 36%
Breakdown revenue by country
Thailand     149,329 155,276 152,150 157,722 169,856 180,894 172,890 45,861
Other countries - - - - - - - - - 0
Total Revenue     149,329 155,276 152,150 157,722 169,856 180,894 172,890 45,861
% Breakdown revenue by country
Thailand     100% 100% 100% 100% 100% 100% 100% 100%
Other countries - - - - - - - - - 0%
Total     100% 100% 100% 100% 100% 100% 100% 100%

* Post-TFRS 15

** Post-TFRS 16

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 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
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)