3Q20 2Q21 3Q21 Cash 18,421 5.3% 11,336 3.2% Interest-bearing debt to equity (times) 1.6 1.2 1.1 ST investment 1,921 0.5% 1,385 0.4% Net debt to equity (times) 1.3 1.0 1.0 Trade receivable 16,579 4.7
% Interest-bearing debt to equity (times) 1.3 1.1 1.1 ST investment 1,392 0.4% 1,258 0.4% Net debt to equity (times) 1.0 0.9 0.9 Trade receivable 15,219 4.3% 15,149 4.3% Net debt to EBITDA (times) 0.8 0.8 0.8
and license payable to EBITDA was at 2.2x. Total equity was at Bt82,402mn, increasing 0.7%. Cash flow In 1H22, cash flow from operation (after tax) reported at Bt36,203mn, decreasing -12% YoY following
liabilities and license payable) remained healthy at 1.0x. Total equity was at Bt78,214mn, which declined - 4.4% due to dividend payment. Cash flow In 9M22, cash flow from operation (after tax) reported at
) remained healthy at 0.7x. Total equity was at Bt79,967mn, which decreased -6.8% due to a decrease in retained earnings appropriated for the dividend. Cash flow In 1Q23, cash flow from operation (after tax
. Interest-bearing debt stood at Bt90,882mn, increased by 7.7% following the new bonds issuance. AIS net debt to EBITDA (excluding lease liabilities and license payable) remained healthy at 0.8x. Total equity
outflows. At the same time, the Chinese economy in the third quarter cooled amid concerns over the trade dispute between China and the US, after the US raised tariffs on certain products imported from China
global economy grew at a decelerating rate in 2019 amid uncertainty surrounding the US- China trade rift and concerns about Brexit which lingered throughout the year. The World Economic Outlook of the