Financial Highlights

Unit: million Baht 2012 2013 2014 2015 2016 2017 2018 9M2019
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 30,183.1
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) (28,956.8)
Gross profit 2,084.7 3,556.7 1,647.9 4,192.2 5,739.8 4,974.1 2,480.9 1,226.3
Other income
(incl. net gain on exchange rates)
453.1 928.8 919.8 956.3 702.7 1,279.5 1,295.4 1,036.2
Profit before expenses 17,214.5 4,485.5 2,567.6 5,148.5 6,442.6 6,253.6 3,776.3 2,262.5
Selling and administrative expenses (884.7) (1,755.7) (1,924.9) (2,377.4) (2,636.1) (2,949.7) (3,116.1) (2,404.8)
Net loss on exchange rates - - - (204.8) (79.5) - - -
Profit before finance costs and income tax (EBIT) 16,329.7 2,729.8 642.8 2,566.4 3,727.0 3,303.9 660.1 (142.2)
Finance costs (17.4) (171.0) (312.8) (457.1) (520.9) (653.2) (743.7) (569.8)
Income tax (435.5) (651.2) 1.3 (151.1) 191.5 34.1 210.9 (21.5)
Profit for the period 15,876.8 1,907.7 331.3 1,958.3 3,397.6 2,684.8 127.4 (733.5)
Non-controlling interests of a subsidiary 363.9 864.9 148.1 879.8 1,528.1 1,207.3 57.4 (331.6)
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 (401.9)
Earnings per share (Baht) 3.1985 0.2150 0.0378 0.2224 0.3855 0.3046 0.0144 -0.0829
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 2,566.1
Total current assets 7,149.0 7,816.8 7,492.5 8,829.2 8,759.6 9,049.0 6,365.5 6,202.3
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 54,864.0
Total assets 34,609.4 44,935.3 49,501.8 52,826.5 56,599.4 62,773.6 61,746.7 61,066.3
Total Debt (Interest Bearing Debt)* 1,920.3 8,160.8 12,077.0 14,036.8 15,455.2 17,863.4 20,802.4 21,072.7
Net debt (Total debt - Total cash) (1,932.6) 6,202.2 7,287.9 7,914.0 10,793.9 12,525.4 16,679.8 18,506.7
Total current liabilities 4,962.5 10,988.4 7,864.8 8,296.5 9,270.1 10,910.1 11,022.2 12,856.4
Total liabilities 9,891.6 18,260.0 22,485.9 24,743.3 26,479.2 31,320.5 33,123.9 33,310.5
Equity attributable to owners of the parent 18,259.1 19,345.9 19,534.2 20,142.4 21,270.5 22,005.9 20,455.4 19,980.0
Total equity 24,717.8 26,675.3 27,015.9 28,083.2 30,120.2 31,453.1 28,622.8 27,755.8

* Total debt = borrowings from financial institutions + finance lease liabilities

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 (738.1)
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) (761.6)
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) 68.7
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) (1,431.0)
Return on total assets 84.0% 2.6% 0.4% 2.1% 3.4% 2.5% 0.1% -1.1%
Return on equity 169.0% 5.5% 0.9% 5.4% 9.0% 6.8% 0.3% -3.3%
EBIT margin 101.4% 11.6% 2.5% 8.7% 11.5% 9.2% 1.7% -0.5%
Net profit margin 96.3% 4.4% 0.7% 3.7% 5.8% 4.1% 0.2% -1.3%
IBD/Equity Ratio 0.11 0.42 0.62 0.70 0.73 0.81 1.02 1.05
Gearing Ratio Net Cash 0.32 0.37 0.39 0.51 0.57 0.82 0.93
Passengers carried (million) 8.3 10.5 12.2 14.8 17.2 19.8 21.6 16.7
Capacity (million seats) 10.1 12.6 15.3 18.2 20.5 22.7 25.2 19.8
Load factor (%) 82% 83% 80% 81% 84% 87% 85% 84%
RPK (million) 8,618 10,829 12,420 14,872 17,285 19,523 21,243 17,237
ASK (million) 10,499 12,951 15,419 18,116 20,629 22,379 25,019 20,542
Aircraft utilisation (hours per day) 11.5 11.7 10.9 11.5 11.7 11.9 12.0 12.4
Average fare (Baht) - including fuel surcharge 1,977 1,885 1,726 1,667 1,565 1,500 1,477 1,469
Revenue per ASK (Baht) 1.84 1.81 1.64 1.63 1.57 1.61 1.56 1.47
Cost per ASK (Baht) 1.69 1.67 1.66 1.53 1.42 1.52 1.58 1.53
Cost per ASK - excluding fuel (Baht) 0.94 0.95 0.93 0.98 1.02 1.05 1.00 1.00
Number of stages 56,067 70,149 85,074 101,231 113,776 126,083 139,848 109,678
Average stage length (km) 1,040 1,026 1,008 995 1,007 986 991 1,037
Size of fleet at year end 27 35 40 45 51 56 62 62