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Financial Highlights
Unit : Baht 2015 2016 2017
Balance Sheet as of 31 December
Total Assets 821,010,256 695,477,264 533,167,185
Total Liabilities 568,664,261 572,140,702 499,783,106
Total Shareholders’ Equity 252,345,995 123,336,562 33,384,079
Statement of Comprehensive Income
Revenues
Revenues from sales 2,132,710,536 2,054,342,330 1,833,056,354
Other income 32,998,152 14,169,173 14,823,930
Total revenues 2,165,708,688 2,068,511,503 1,847,880,284
Expenses
Cost of sales 1,007,007,226 1,000,240,640 899,617,754
Selling expenses 1,075,106,748 1,013,256,979 976,865,818
Administration expenses 152,811,107 142,303,343 91,078,378
Impairment loss on assets 13,767,444 9,752,225 32,289,802
Other expense 1,442,280 11,418,195 53,447,419
Finance costs 14,113,443 16,408,097 13,372,661
Total expenses 2,262,805,968 2,193,379,479 2,066,671,832
Profit (loss) before income tax expenses (tax income) (97,097,280) (124,867,976) (218,791,548)
Tax expenses (tax income) (2,104,754) 23,359,000 3,512,566
Profit (loss) for the year (94,992,526) (148,226,976) (222,304,114)
Other comprehensive income - 19,217,543 3,844,760
Total comprehensive income (expense) for the year (94,992,526) (129,009,433) (218,459,354)
Par value (Baht) 0.25 0.25 0.25
The weight average no of common share (share) 406,000,000 406,000,000 421,906,302
Basic earning (loss) per share (Baht) calculated at the par value of Baht 0.25 (0.23) (0.37) (0.53)
Statement of Cash Flows
Net cash provided by (used in) operating activities 89,891,203 60,539,479 (47,111,264)
Net cash provided by (used in) investing activities (45,595,582) (33,342,396) (43,863,930)
Net cash provided by (used in) financing activities (50,575,374) (28,054,702) 85,635,825
Cash and cash equivalents at beginning of year 23,182,730 16,902,977 16,045,358
Cash and cash equivalents at the end of year 16,902,977 16,045,358 23,182,730
Supplementary disclosures of cash flows information:
The Company acquired fixed assets by means of
Liabilities under finance lease agreements 8,817,339 1,495,024 725,234
Key Financial Ratio
Liquidity Ratio
Current ratio (times) 0.21 0.21 0.22
Cash flow current ratio (times) 0.18 0.13 (0.11)
Inventory turnover period (times) 16.53 18.08 18.44
Payable turnover period (times) 6.18 6.10 6.07
Average collection period (days) 59.07 59.85 60.08
Profitability Ratio
Gross profit margin (%) 52.78 51.31 50.92
Net profit margin (%) -4.39 -7.17 -12.03
Return on equity (%) -31.68 -78.91 -283.69
Efficiency Ratio
Return on assets (%) -10.52 -36.19
Return on fixed assets (%) 9.86 -2.01 -20.75
Total asset turnover (times) 2.40 2.73 3.01
Financial Policy Ratio
Debt/equity ratio (times) 2.25 4.64 1.84
Debt/equity ratio (times)1/ 1.96 4.64 1.65
Debt service coverage ratio (times)2/ 1.25 0.54 0.82
Debt service coverage ratio (times)3/ 1.39 0.93 1.06
Debt service coverage ratio (times)4/ 1.25 1.23 1.44
Dividend per share (%) n/a n/a n/a

1/ Loan from Directors or shareholders is calculated as equity

2/ Calculated from Earnings before interest, tax, depreciation and amortization (EBITDA)

3/ Calculated from Earnings before interest, tax, depreciation and amortization (EBITDA) deducting non-cash items of loss from branch closing and loss on impairment of assets

4/ Calculated from cash flow from operating activities