, compared to Baht 106.5 million in Q2 2023 in line with our net interest bearing debt level. Net profit (loss) attributable to equity holders was Baht 102.7 million, compared to net profit of Baht 410.0

issued shares to the private placement investor will strengthen the long-term financial structure and the debt to equity ratio of the Company by increasing more financial flexibility for future project and

being an essential part to support the Company’s business plan. 2) Objective regarding the Issuance of Newly Issued Shares to Offer to the investor: Based on the aforementioned of the Company’s business

22.0 Asset Turnover (Time) 0.4 0.5 Leverage Ratio Debt to Equity (Time) 1.6 1.0 Interest Coverage Ratio (Time) 2.4 3.0 21 ASIA’S BOUTIQUE AIRLINE Glossary Passenger or Cabin load factor : Number of

(%) 3.3 4.8 Return on Fixed Assets (%) 22.0 29.2 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.0 0.9 Interest Coverage Ratio (Time) 3.0 3.6 26 ASIA’S BOUTIQUE AIRLINE Glossary

Assets (%) 3.3 4.8 Return on Fixed Assets (%) 22.0 29.2 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.0 0.9 Interest Coverage Ratio (Time) 3.0 3.6 26 ASIA’S BOUTIQUE AIRLINE Glossary

issuance of 205mn ordinary shares at an offering price of the THB 1.60 per share, to the existing shareholders at a ratio of 10 existing ordinary shares for 1 newly issued ordinary shares. The Company has

increases by 5% every 5 years since May 2015), full quarter consolidation of COMASS by MACO. Cost-to-sales ratio, however, decreased from 42.8% to 39.4% primarily as a result of higher sales, improved

increased 3.6% from 2015. Debt to Equity ratio of 0.42 times in 2017, dropped from 2016 and 2015 of 0.45 times and 0.43 times, respectively, the level at which signified reasonable capital structure and low

of MACO. Cost-to-sales ratio, however, decreased from 41.6% to 39.0% primarily due to sales growth outpaced cost growth, improved operational efficiency and cost management especially in the Outdoor