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 2021 to 31 December 2023
| Summary of Financial Position, Income Statement, and Cash Flows Statement | 2023 | 2022 | 2021 | |||
|---|---|---|---|---|---|---|
| MB | % | MB | % | MB | % | |
| Financial Position | ||||||
| Total Assets | 46,932 | 100.0% | 45,135 | 100.0% | 44,384 | 100.0% |
| Total Liabilities | 38,006 | 81.0% | 36,860 | 81.7% | 36,184 | 81.5% |
| Total Shareholders' Equity | 8,926 | 19.0% | 8,275 | 18.3% | 8,200 | 18.5% |
| Income Statement | ||||||
| Revenue from Sales and Services | 198,811 | 100.0% | 179,422 | 100.0% | 133,759 | 100.0% |
| Gross Profit | 12,922 | 6.5% | 12,008 | 6.7% | 10,132 | 7.6% |
| EBITDA | 5,694 | 2.9% | 5,623 | 3.1% | 5,419 | 4.1% |
| Net Profit | 966 | 0.5% | 953 | 0.5% | 1,017 | 0.8% |
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash Flows Statement | |||
| Cash Receipts from Operating Activities | 5,944 | 5,121 | 5,336 |
| Cash Payments in Investing Activities | -3,010 | -2,627 | -2,384 |
| Cash Payments in Financing Activities | -1,624 | -2,125 | -2,193 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 1,310 | 370 | 759 |
| Beginning Balance | 2,071 | 1,701 | 942 |
| Ending Balance | 3,381 | 2,071 | 1,701 |
The Summary of Significant Financial Ratios of the Company and Its Subsidiaries
| Financial Ratios | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Liquidity Ratios | ||||
| Current Ratio | Times | 0.48 | 0.38 | 0.39 |
| Quick Ratio | Times | 0.28 | 0.22 | 0.21 |
| Cash Flows Ratio | Times | 0.40 | 0.39 | 0.51 |
| Account Receivable Turnover | Times | 301.48 | 340.21 | 218.38 |
| Average Collection Period/1 | Days | 1.21 | 1.07 | 1.67 |
| Inventory Turnover | Times | 67.79 | 76.21 | 57.14 |
| Inventory Days | Days | 5.38 | 4.79 | 6.39 |
| Account Payable Turnover | Times | 27.43 | 32.84 | 24.92 |
| Account Payable Days/1 | Days | 13.30 | 11.12 | 14.54 |
| Cash Cycle | Days | -6.71 | -5.25 | -6.59 |
| Profitability Ratios | ||||
| Gross Profit Margin | % | 6.50% | 6.69% | 7.57% |
| Operating Profit Margin | % | 1.18% | 1.36% | 1.79% |
| Other Income Margin | % | 0.09% | 0.10% | 0.13% |
| Operating Cash to Operating Profit Margin | % | 252.49% | 210.12% | 222.78% |
| Net Profit Margin | % | 0.49% | 0.53% | 0.76% |
| Return on Equity | % | 11.23% | 11.57% | 12.57% |
| Efficiency Ratios | ||||
| Return on Assets | % | 2.10% | 2.13% | 2.35% |
| Return on Fixed Assets/2 | % | 12.17% | 11.48% | 11.41% |
| Assets Turnover | Times | 4.32 | 4.01 | 3.01 |
| Financial Ratio | ||||
| Debt to Equity Ratio | Times | 4.26 | 4.45 | 4.41 |
| Interest Bearing Debt to Equity Ratio/3 | Times | 0.94 | 1.09 | 1.17 |
| Interest Coverage Ratio | Times | 5.05 | 5.01 | 4.85 |
| Debt Service Coverage Ratio | Times | 1.02 | 0.88 | 0.97 |
| Dividend Payout Ratio as a Percentage of Net Profit According to the Separate Financial Statements/4 | % | 104.38% | 119.05% | 54.76% |
| Stock Information | ||||
| Basic Earnings per Share | Baht Per Share | 0.57 | 0.56 | 0.60 |
| Annual Average Closing Price | Baht Per Share | 11.43 | 14.40 | 16.20 |
| Annual Dividend Payment | Baht Per Share | 0.30/5 | 0.40 | 0.25 |
Remarks:
/1 The Company sets a debt repayment period for suppliers within 30 days. In the year 2023, the Company had an average accounts receivable collection period of 1.21 days and an average accounts payable period of 13.30 days, which is within the policy guidelines.
/2 Return on fixed assets was calculated from property, plant and equipment, and prepaid leasehold right and land rental.
/3 The Interest-Bearing Debt to Equity Ratio (IBD/Equity) was excluded lease obligation according to TFRS16. If included lease liabilities, was amounted to 2.98 times, reduced from the previous year's 3.50 times.
/4 Dividend payout ratio as a percentage of net profit according to the separate financial statements was calculated from the total amount of dividends paid out during the operating year.
/5 The dividend for the year 2023 results at the rate of Baht 0.35 per share will be subjected to the 2024 Annual General Meeting of Shareholders' approval on April 26, 2024.