Financial Highlights

Unit: million Baht 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 9M2022
INCOME STATEMENT
Revenues from sales and services 16,103.0 23,485.0 25,355.5 29,507.3 32,427.6 36,002.8 38,904.8 40,180.7 13,633.9 3,828.5 9,289.4
Cost of sales and services (14,018.2) (19,928.4) (23,707.7) (25,315.1) (26,687.8) (31,028.7) (36,424.0) (38,358.5) (20,484.2) (11,223.3) (15,941.6)
Gross profit 2,084.7 3,556.7 1,647.9 4,192.2 5,739.8 4,974.1 2,480.9 1,822.1 (6,850.3) (7,394.8) (6,652.2)
Other income
(incl. net gain on exchange rates)
15,129.7 928.8 919.8 956.3 702.7 1,279.5 1,295.4 1,350.3 2,603.5 679.8 214.4
Selling and administrative expenses (884.7) (1,755.7) (1,924.9) (2,377.4) (2,636.1) (2,949.7) (3,116.1) (3,294.6) (1,665.4) (1,235.6) (1,155.5)
Other expenses (incl. loss on exchange rates) - - - (204.8) (79.5) - - - (1,638.6) (3,900.0) (5,163.1)
Profit (Loss) from operating activities 16,329.7 2,729.8 642.8 2,566.4 3,727.0 3,303.9 660.1 (122.2) (7,550.7) (11,850.6) (12,756.4)
Finance income - - - - - - - 22.2 23.6 50.4 21.5
Finance costs (17.4) (171.0) (312.8) (457.1) (520.9) (653.2) (743.7) (765.5) (1,799.8) (1,898.8) (1,735.3)
Income tax revenue (expense) (435.5) (651.2) 1.3 (151.1) 191.5 34.1 210.9 (0.6) 660.0 1,741.1 3,141.5
Profit for the period 15,876.8 1,907.7 331.3 1,958.3 3,397.6 2,684.8 127.4 (866.2) (8,666.9) (11,957.9) (11,328.8)
Profit attributable to equity holders of the Company 15,512.9 1,042.8 183.2 1,078.5 1,869.5 1,477.5 70.0 (474.0) (4,764.1) (6,647.5) (11,144.4)
Non-controlling interests of a subsidiary 363.9 864.9 148.1 879.8 1,528.1 1,207.3 57.4 (392.2) (3,902.8) (5,310.5) (184.4)
Earnings (Loss) per share (Baht) 3.1985 0.2150 0.0378 0.2224 0.3855 0.3046 0.0144 (0.0977) (0.9823) (1.2985) (0.9661)
Total current assets 7,149.0 7,816.8 7,492.5 8,829.2 8,759.6 9,049.0 6,365.5 7,426.9 2,760.2 7,672.9 5,184.7
Total non-current assets 27,460.3 37,118.4 42,009.3 43,997.3 47,839.8 53,724.6 55,381.2 55,475.7 65,217.5 63,535.4 61,486.1
Total assets 34,609.4 44,935.3 49,501.8 52,826.5 56,599.4 62,773.6 61,746.7 62,902.6 67,977.7 71,208.3 66,670.8
Total current liabilities 4,962.5 10,988.4 7,864.8 8,296.5 9,270.1 10,910.1 11,022.2 13,959.0 17,823.3 17,560.3 22,898.9
Total non-current liabilities 4,929.1 7,271.6 14,621.1 16,446.9 17,209.1 20,410.3 22,101.8 21,255.1 32,794.1 36,819.3 39,057.1
Total liabilities 9,891.6 18,260.0 22,485.9 24,743.3 26,479.2 31,320.5 33,123.9 35,214.1 50,617.4 54,379.5 61,956.0
Equity attributable to owners of the Company 18,259.1 19,345.9 19,534.2 20,142.4 21,270.5 22,005.9 20,455.4 19,943.9 14,266.1 20,201.1 4,714.8
Total equity 24,717.8 26,675.3 27,015.9 28,083.2 30,120.2 31,453.1 28,622.8 27,688.5 17,360.3 16,828.8 4,714.8
Cash and cash equivalents 3,852.8 1,958.6 4,789.1 6,122.8 4,661.4 5,338.0 4,122.6 3,982.2 1,110.4 5,359.6 1,456.3
Interest bearing debt * 1,920.3 8,160.8 12,077.0 14,036.8 15,455.2 17,863.4 20,802.4 21,979.8 41,718.7 45,139.5 49,295.4
Net debt ** (1,932.6) 6,202.2 7,287.9 7,914.0 10,793.9 12,525.4 16,679.8 17,997.6 40,608.3 39,779.9 47,839.1

* Interest bearing debt = borrowings from financial institutions + lease liabilities
** Net debt = interest bearing debt - cash and cash equivalents

Net cash generated from (used in) operating activities 2,643.0 3,692.4 1,849.0 4,073.7 4,381.6 5,133.1 2,869.3 965.7 (897.9) (4,347.0) (1,319.4)
Net cash generated from (used in) investing activities (1,830.4) (5,237.7) 2,025.4 (183.6) (2,785.6) (2,846.9) (1,733.3) (1,793.9) 12,064.4 1,283.7 (240.7)
Net cash generated from (used in) financing activities 2,296.0 (436.2) (1,030.8) (2,529.1) (3,098.1) (1,563.4) (2,288.3) 828.8 (14,031.4) 7,313.6 (2,351.9)
Net increase (decrease) in cash and cash equivalents 3,108.7 (1,981.5) 2,843.6 1,361.0 (1,502.1) 722.9 (1,152.3) 0.6 (2,864.9) 4,250.3 (3,912.0)
Return on total assets 84.0% 2.6% 0.4% 2.1% 3.4% 2.5% 0.1% -0.8% -7.3% -9.6% -17.0%
Return on equity 169.0% 5.5% 0.9% 5.4% 9.0% 6.8% 0.3% -2.3% -27.9% -38.6% -165.6%
EBIT margin 101.4% 11.6% 2.5% 8.7% 11.5% 9.2% 1.7% -0.3% -55.4% -309.5% -137.3%
Net profit margin 96.3% 4.4% 0.7% 3.7% 5.8% 4.1% 0.2% -1.2% -34.9% -173.6% -120.0%
IBD/Equity ratio 0.11 0.42 0.62 0.70 0.73 0.81 1.02 1.10 2.92 2.23 10.46
Net debt/Equity ratio (Net Gearing) Net Cash 0.32 0.37 0.39 0.51 0.57 0.82 0.90 2.85 1.97 10.15
Passengers carried (million) 8.3 10.5 12.2 14.8 17.2 19.8 21.6 22.1 9.5 2.9 5.9
Capacity (million seats) 10.1 12.6 15.3 18.2 20.5 22.7 25.2 26.1 12.6 4.3 7.4
Load factor (%) 82% 83% 80% 81% 84% 87% 85% 85% 75% 68% 80%
RPK (million) 8,618 10,829 12,420 14,872 17,285 19,523 21,243 22,670 7,735 2,083 4,854
ASK (million) 10,499 12,951 15,419 18,116 20,629 22,379 25,019 26,940 10,174 3,002 6,062
Aircraft utilisation (hours per day) 11.5 11.7 10.9 11.5 11.7 11.9 12.0 12.3 7.4 5.6 8.6
Average fare (Baht) - including fuel surcharge 1,977 1,885 1,726 1,667 1,565 1,500 1,477 1,478 1,199 1,090 1,284
Revenue per ASK (Baht) 1.84 1.81 1.64 1.63 1.57 1.61 1.56 1.49 1.34 1.28 1.53
Cost per ASK (Baht) 1.69 1.67 1.66 1.53 1.42 1.52 1.58 1.55 2.29 4.51 3.03
Cost per ASK - excluding fuel (Baht) 0.94 0.95 0.93 0.98 1.02 1.05 1.00 1.03 1.66 4.04 2.22
Number of stages 56,067 70,149 85,074 101,231 113,776 126,083 139,848 144,421 69,368 24,011 40,597
Average stage length (km) 1,040 1,026 1,008 995 1,007 986 991 1,033 804 688 2,415
Size of fleet at year end 27 35 40 45 51 56 62 63 62 60 58