Financial Highlights

Financial Highlights (Consolidated Financial Statements)

  2017 2016 2015
  (Baht in millions, except share, per share data and ratio)
Statement of Income
Revenue from sales of real estate 2,866.26 5,073.58 5,042.34
Total revenues 3,015.90 5,206.43 5,145.49
Cost of sales of property 1,934.26 3,181.42 3,016.13
Selling and administrative expenses 754.40 855.63 830.02
Total expenses 2,688.66 4,037.05 3,846.15
Gross profit from real estate business 932.00 1,892.17 2,026.21
Profit (Loss) before finance costs and income tax expenses 327.24 1,169.38 1,299.34
Finance costs and income tax expenses 136.05 318.78 398.88
Net profit (Loss) 191.19 850.60 900.46
Profit (Loss) attributable to equity holders of the parent 191.44 850.63 900.90
Statement of Financial Position
Cash, cash equivalents and short-term investment 648.77 1,134.81 505.20
Total current assets 7,912.75 7,572.91 8,428.70
Other non-current assets 2,545.22 2,127.22 1,518.28
Total assets 10,457.97 9,700.13 9,946.98
Total current liabilities 3,608.44 2,513.47 4,035.45
Total non-current liabilities 1,782.81 2,078.77 1,460.54
Total borrowings from financial institutions, debentures and debt certificates 4,059.73 2,937.57 2,883.59
Total liabilities 5,391.25 4,592.24 5,495.99
Issued and fully paid-up share capital 3,575.48 3,575.48 3,575.48
Total equity 5,066.72 5,107.89 4,450.99
Liquidity Ratios (times)
Current ratio 2.19 3.01 2.09
Quick ratio 0.19 0.52 0.18
Profitability Ratios (%)
Gross profit margin (1) 32.52% 37.29% 40.18%
Net profit margin 6.35% 16.34% 17.50%
Return on equity (2) 3.76% 17.80% 22.54%
Return on assets 1.90% 8.66% 8.52%
Efficiency Ratios (times)
Total assets turnover 0.30 0.52 0.51
Leverage Ratios (times)
Debt to equity ratio 1.06 0.90 1.23
Interest-bearing debt to equity ratio 0.80 0.58 0.65
Net interest-bearing debt to equity ratio (3) 0.67 0.35 0.53
Interest coverage ratio   (4) 4.25 12.42 8.48
Growth (% per year)
Total asset growth 7.8% -2% -11%
Total liabilities growth 17.4% -16.4% -28.1%
Total shareholder’s equity growth -0.8% 14.8% 25.6%
Total revenues growth -42.1% 1.2% -22.6%
SG&A expenses growth -11.8% 3.1% -20.4%
Per Share Ratios (Baht)
Earning per share 0.05 0.24 0.25
Book value per share (5) 1.42 1.43 1.24
Other Financial Data
Beginning cash 1,133.73 505.20 497.74
Net cash flows from operating activities -904.69 1,592.63 657.76
Net cash flows from investing activities -458.26 -814.06 9.20
Net cash flows from financing activities 877.08 -148.99 -659.63
Ending cash 647.68 1,133.73 505.20

(1)Gross profit margin = (total sales – cost of sales) / total sales, whereas total sales consist of sale of residential condominium units

(2)Return on equity = Profit (loss) - Equity holders of the Company / the average of total shareholders' equity of this year and last year

(3)Net debt to equity = Total debt less cash and cash equivalent / total shareholders' equity

(4) Interest coverage ratio = Profit (loss) before finance cost and income tax / finance cost, finance cost means interest and other charges associated with financing e.g. front end fee, etc.

(5)  Book value include non-controlling interests of the subsidiaries