Year Q1/
2019
(Baht million) 2014 2015 2016 2017 2018
INCOME STATEMENT
Revenues from sales and services 25,355.5 29,507.3 32,427.6 36,002.8 38,904.8 11,155.3
Cost of sales and services (23,707.7) (25,315.1) (26,687.8) (31,028.7) (36,424.0) (9,619.0)
Gross profit 1,647.9 4,192.2 5,739.8 4,974.1 2,480.9 1,536.3
Other income
(incl. net gain on exchange rates)
919.8 956.3 702.7 1,279.5 1,295.4 467.3
Profit before expenses 2,567.6 5,148.5 6,442.6 6,253.6 3,776.3 2,003.6
Selling and administrative expenses (1,924.9) (2,377.4) (2,636.1) (2,949.7) (3,116.1) (874.4)
Net loss on exchange rates - (204.8) (79.5) - - -
Profit before finance costs and income tax (EBIT) 642.8 2,566.4 3,727.0 3,303.9 660.1 1,129.3
Finance costs (312.8) (457.1) (520.9) (653.2) (743.7) (191.8)
Income tax 1.3 (151.1) 191.5 34.1 210.9 (33.9)
Profit for the period 331.3 1,958.3 3,397.6 2,684.8 127.4 903.5
Non-controlling interests of a subsidiary 148.1 879.8 1,528.1 1,207.3 57.4 406.3
Profit attributable to equity holders of the Company 183.2 1,078.5 1,869.5 1,477.5 70.0 497.2
Earnings per share (Baht) 0.0378 0.2224 0.3855 0.3046 0.0144 0.1025
BALANCE SHEET
Cash and cash equivalents 4,789.1 6,122.8 4,661.4 5,338.0 4,122.6 4,226.0
Total current assets 7,492.5 8,829.2 8,759.6 9,049.0 6,365.5 7,094.4
Total non-current assets 42,009.3 43,997.3 47,839.8 53,724.6 55,381.2 55,084.4
Total assets 49,501.8 52,826.5 56,599.4 62,773.6 61,746.7 62,178.8
Total Debt
(Interest Bearing Debt)*
12,077.0 14,036.8 15,455.2 17,863.4 20,802.4 20,803.4
Net debt
(Total debt - Total cash)
7,287.9 7,914.0 10,793.9 12,525.4 16,679.8 16,577.4
Total current liabilities 7,864.8 8,296.5 9,270.1 10,910.1 11,022.2 10,502.9
Total liabilities 22,485.9 24,743.3 26,479.2 31,320.5 33,123.9 32,786.1
Equity attributable to owners of the parent 19,534.2 20,142.4 21,270.5 22,005.9 20,455.4 20,879.1
Total equity 27,015.9 28,083.2 30,120.2 31,453.1 28,622.8 29,392.8
* Total debt = borrowings from financial institutions + finance lease liabilities
CASH FLOW STATEMENT
Net cash generated from
(used in) operating activities
1,849.0 4,073.7 4,381.6 5,133.1 2,869.3 276.0
Net cash generated from
(used in) investing activities
2,025.4 (183.6) (2,785.6) (2,846.9) (1,733.3) (113.5)
Net cash generated from
(used in) financing activities
(1,030.8) (2,529.1) (3,098.1) (1,563.4) (2,288.3) (39.8)
Net increase (decrease) in cash and cash equivalents 2,843.6 1,361.0 (1,502.1) 722.9 (1,152.3) 122.7
FINANCIAL PERFORMANCE (%)
Return on total assets 0.4% 2.1% 3.4% 2.5% 0.1% -0.7%
Return on equity 0.9% 5.4% 9.0% 6.8% 0.3% -2.0%
EBIT margin 2.5% 8.7% 11.5% 9.2% 1.7% 10.1%
Net profit margin 0.7% 3.7% 5.8% 4.1% 0.2% 4.5%
IBD/Equity Ratio 0.62 0.70 0.73 0.81 1.02 1.00
Gearing Ratio 0.37 0.39 0.51 0.57 0.82 0.79
OPERATING STATISTICS
Passengers carried (million) 12.2 14.8 17.2 19.8 21.6 5.9
Capacity (million seats) 15.3 18.2 20.5 22.7 25.2 6.5
Load factor (%) 80% 81% 84% 87% 85% 90%
RPK (million) 12,420 14,872 17,285 19,523 21,243 6,151
ASK (million) 15,419 18,116 20,629 22,379 25,019 6,874
Aircraft utilisation
(hours per day)
10.9 11.5 11.7 11.9 12.0 12.5
Average fare (Baht) - including fuel surcharge 1,726 1,667 1,565 1,500 1,477 1,554
Revenue per ASK (Baht) 1.81 1.64 1.63 1.57 1.61 1.58
Cost per ASK (Baht) 1.66 1.53 1.42 1.52 1.58 1.53
Cost per ASK - excluding fuel (Baht) 0.93 0.98 1.02 1.05 1.00 1.00
Number of stages 85,074 101,231 113,776 126,083 139,848 36,061
Average stage length (km) 1,008 995 1,007 986 991 1,056
Size of fleet at year end 40 45 51 56 62 62