earnings. Debt to Equity Ratio The interest-bearing debt of the Company stood at THB 5,551.9mn while cash and cash equivalents stood at THB1,618.8mn. As a result, the debt to equity ratio1 was 0.79times as

1,831 (26) (1.4) Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) In 1Q18, the Company has earnings before interest payable, tax, and depreciation (EBITDA) pursuant to the Financial

. Administrative Expenses Administrative expenses decreased by 5% comparing to 2Q19 (not included non-recurring expenses of THB. 22.5 million). This was attributable to staff expenses. Earnings before interest

patients. Administrative Expenses Administrative expenses were unchanged yoy. Earnings before interest, taxes and depreciation (“EBITDA”) EBITDA (not included other income) deteriorated by both in term of

interest % 43% 49% Credit Rating by TRIS AA- AA- 1 Net debt after debt for capex and investments in progress that are not generating revenue and earnings as on date given Figure 2: Repayment Schedule of Long

debt to equity (times) 0.65 0.60 Debts with fixed interest % 55% 49% Credit Rating by TRIS AA- AA- 1 Net debt after debt for capex and investments in progress that are not generating revenue and earnings

expenses 4 Interest net of tax on THB 15 billion Perpetual Debentures 5 M&A earnings are annualized for ROCE calculation to appropriately represent the ratio based on restated historical numbers. ROCE

Offering for Sale of Certificates Representing Interest from Underlying Securities by the Subsidiary of the Stock Exchange of Thailand

) Easing of the financial conditions – although the policy rate and interest rates have been at a low level but liquidity in the business sector is still at the low level especially for SMEs business. This

crowding-in of private investment. 3) Easing of the financial conditions – although the policy rate and interest rates have been at a low level but liquidity in the business sector is still at the low level