Unit: million Baht 2011 2012 2013 2014 2015 2016 2017 2018 2019 * 1Q20 **
Total revenue 126,437 145,649 150,578 149,329 155,276 152,150 157,722 169,856 180,894 42,845
Total cost 76,220 88,050 88,936 83,548 84,819 82,992 92,259 103,456 139,640 33,092
EBITDA 56,622 61,437 63,691 66,427 70,776 60,741 70,498 73,792 78,710 22,777
Operating profit       46,920 50,366 39,382 40,385 40,105 41,254 9,815
Net profit 22,218 34,884 36,274 36,033 39,152 30,667 30,077 29,682 31,190 6,756
Total asset 86,672 100,968 112,026 126,351 181,761 275,670 284,067 290,505 289,669 374,715
Total liabilities 47,209 57,426 66,133 79,486 133,268 232,962 233,641 232,836 220,275 309,944
Total equity 39,464 43,542 45,893 46,865 48,493 42,708 50,427 57,669 69,394 64,772
Operating cash flow 58,417 62,242 60,553 72,174 69,924 71,538 71,061 75,894 83,394 23,059
CAPEX 5,707 9,598 28,460 32,562 32,255 47,554 41,108 20,198 23,029 5,896
Effective tax rate
Earnings before Tax 36,709 45,613 46,237 46,082 49,154 35,864 35,921 35,637 37,402 8,091
Reported Taxes 14,364 10,714 10,007 10,079 9,999 5,175 5,843 5,923 6,209 1,335
Reported Tax Rate 39% 24% 22% 22% 20% 14% 16% 17% 17% 16%
Cash Taxes Paid 10,201 11,109 9,224 9,353 8,294 9,902 5,533 6,763 6,721 469
Cash Tax Rate 28% 24% 20% 20% 17% 28% 15% 19% 18% 6%
Growth of revenue and profit (YoY) YoY growth
Service revenue growth 11.4% 14.8% 3.7% 1.2% 2.2% 1.60% 4.9% 3.8% 5.7% 0.9%
Total revenue growth 13.6% 15.2% 3.4% -0.8% 4.0% -2.00% 3.7% 7.7% 8.3% -1.0%
EBITDA growth 9.0% 9.0% 4.0% 4.0% 6.5% -14.00% 16% 4.7% 5.6% 21.0%**
Net profit growth 8.0% 57.0% 4.0% -1.0% 8.5% -22.00% -1.9% -1.3% 2.7% -11.0%**
Financial ratios
EBITDA margin 45.0% 42.0% 42.0% 44.0% 45.6% 39.90% 44.7% 43.4% 43.5% 53.2%
Net profit margin 18.0% 24.0% 24.0% 24.0% 25.2% 20.20% 19.1% 17.5% 17.2% 15.8%
EPS (Baht/share) 7.47 11.73 12.20 12.12 13.17 10.31 10.12 9.98 10.49 2.27
DPS (Baht/share) 8.43 10.90 12.15 12.00 12.99 10.08 7.08 7.08 7.34 -
Current ratio (x) 1.12 1.05 0.77 0.88 0.66 0.46 0.5 0.5 0.45 0.44
Net debt to EBITDA (x) 0.01 Net cash 0.15 0.29 0.70 1.38 1.4 1.3 0.92 0.8
Debt to equity (x) 0.56 0.47 0.54 0.79 1.32 2.3 2.2 1.9 1.36 1.0
Interest coverage (x) 24 45 50 34 30 14 13 12 13.3 13.7
ROA 31% 37% 34% 31% 25% 13% 10% 10% 11% 8%
ROE 67% 84% 82% 79% 82% 67% 65% 55% 49% 42%
Breakdown revenue by country
Thailand       149,329 155,276 152,150 157,722 169,856 180,894 42,845
Other countries - - - - - - - - - -
Total Revenue       149,329 155,276 152,150 157,722 169,856 180,894 42,845
% Breakdown revenue by country
Thailand       100% 100% 100% 100% 100% 100% 100%
Other countries - - - - - - - - - -
Total       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
ARPU incl.IC Consolidated service revenue excluding inbound international roaming but including net 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)