Financial Highlights

Summary of Financial Position, Income Statement, Cash Flows Statement, and the significant financial ratios of the Company

And its subsidiaries for the year ended 31 December 2017 to 31 December 2020

Summary of Financial Position, Income Statement, and Cash Flows Statement	3Q2021		2020		2019		2018		2017
	THB (mn)	%	THB (mn)	%	THB (mn)	%	THB (mn)	%	THB (mn)	%
Financial Position
Total assets	43,614	100	42,037	100	22,652	100	20,939	100	17,985	100
Total liabilities	35,329	81	34,057	81	15,945	70	15,463	74	12,867	72
Total shareholders' equity	8,285	19	7,980	19	6,707	30	5,476	26	5,119	28
Income Statement
Revenue from sales and services	30,585	100	104,423	100	120,027	100	107,829	100	84,625	100
Gross profit	2,391	7.8	10,599	10.1	9,900	8.2	7,443	6.9	6,254	7.4
EBITDA	1,155	3.8	6,315	6.0	5,268	4.4	3,508	3.3	3,067	3.6
Net profit	65	0.2	1,906	1.8	1,563	1.3	624	0.6	913	1.1

	3Q2021	2020	2019	2018	2017
Cash Flows Statement
Cash receipts from operating activities	2,769	2,811	3,683	4,923	2,790
Cash payments in investing activities	-1,666	-1,924	-4,225	5,347	5,698
Cash payments in financing activities	-779	-982	584	508	3,182
Net increase (decrease) in cash and cash equivalents	324	(95)	41	85	274
Beginning balance	942	1,037	996	911	637
Ending balance	1266	942	1,037	996	911

The Summary of Significant Financial Ratios of the Company and Its Subsidiaries

Financial Ratios		3Q2021	2020	2019	2018	2017
Liquidity Ratio
Current ratio	Times	0.42	0.45	0.42	0.36	0.47
Quick ratio	Times	0.20	0.21	0.23	0.20	0.23
Cash flows ratio	Times	0.45	0.28	0.33	0.51	0.42
Account receivable turnover	Times	307.92	341.64	408.81	436.89	623.37
Average collection period	Days	9.20	1.07	0.89	0.84	0.59
Inventory turnover	Times	54.42	45.35	57.04	54.78	46.45
Inventory days	Days	6.71	8.05	6.40	6.66	7.86
Account payable turnover	Times	39.67	24.52	21.96	22.07	22.75
Account payable days	Days	9.20	14.89	16.62	16.54	16.05
Cash Cycle	Days	-1.31	(5.77)	(9.33)	(9.04)	(7.60)
Profitability Ratio
Gross profit margin	%	7.82	10.15	8.25	6.90	7.39
Operating profit margin	%	1.27	3.29	1.88	0.96	1.48
Other profit margin	%	0.16	0.62	0.22	0.28	0.33
Net profit margin	%	0.21	1.83	1.30	0.58	1.08
Return on equity	%	27.56	25.96	25.66	11.77	18.81
Efficiency Ratio
Return on assets	%	27.56	5.89	7.17	3.20	5.99
Return on fixed assets^/1	%	0.66	6.81	32.09	24.71	29.65
Assets turnover	Times	4.57	3.23	5.51	5.54	5.55
Financial Ratio
Debt to equity ratio	Times	4.26	4.27	2.38	2.82	2.51
Interest bearing debt to equity ratio	Times	3.70	3.70	1.46	1.62	1.58
Interest coverage ratio	Times	14.30	5.72	13.10	18.62	17.74
Debt service coverage ratio	Times	0.15	0.11	0.10	0.15	0.10
Dividend payout ratio as a percentage of net profit according to the separate financial statements^/2	%	1,291.07	44.09^/3	42.82	50.55	40.84
Stock Information
Earnings per share	Baht per share	0.04	1.14	0.94	0.37	0.55
Annual average closing price	Baht per share	16.20	14.05	15.80	15.18	22.88
Annual dividend payment	Baht per share	0.50	0.50^/3	0.40	0.20	0.17

Source: the Company

Remarks:

^/1 Return on fixed assets was calculated from property, plant and equipment, and prepaid leasehold right and land rental.

^/2 Dividend payout ratio as a percentage of net profit according to the separate financial statement was calculated from the total amount of dividends paid out during the operating year.

^/3 Including the interim dividend for 2016 first-half results at the rate of Baht 0.10 per share and the dividend for 2016 second-half result at the rate of Baht 0.20 per share.

^/4 The dividend for the year 2018 result at the rate of Baht 0.20 per share which will be proposed to the 2019 Annual General Meeting of Shareholders' approval on 19 April 2018.

Revenue

Unit : Million Baht

Gross Profit

Unit : Million Baht

EBITDA

Unit : Million Baht

Net Profit

Unit : Million Baht

Profitability

Unit : %

Leverage Ratios

Unit : Time

Operating Cash Cycle

Unit : Day

Cash Flow

Assets

Unit : Million Baht

Liabilities and Equity

Unit : Million Baht