Bt109,700mn with a net debt to EBITDA of 1.4x, stable from 2016, and maintained an investment grade credit rating at BBB+ for S&P. Cash Flow In 2017, AIS generated Bt65,528mn of operating cash flow ( after tax

% from THB 276mn as of 31 December 2016. The Company gives 90 days credit terms to customers. The average credit terms paid by customers was 69 days as of 31 December 2017 and 77 days as of 31 December

over wholesale sales to cautiously control the overall sales credit in this channel. As a result, sales for the current period decreased slightly by 5.4%. Despite the gradual economic growth and the

ะหปั์จจยัพืน้ฐานของผูอ้อกตราสาร และ/หรือการจดัอนัดบัความน่าเชื่อถือของผูอ้อกตราสารเพ่ือ ประกอบการตดัสินใจลงทนุ 2. ความเส่ียงจากความสามารถในการช าระหนีข้องผู้ออกตราสาร (Credit Risk): ความเสี่ยงจากตราสารหนีท้ี่กอง

% 9 (TFRS 9) ซึ%งคํานวณผลขาดทนุด้านเครดิตที%คาดว่าจะ เกิดขึ 'น (Expected Credit Loss, ECL) ตลอดอายุ และการบญัชีป้องกันความเสี%ยง ประกอบกับภาวะ เศรษฐกิจที%อาจเกิดขึ 'นในอนาคต บริษัทฯ จึงได้กําหนดค่าเผื%อ

from sale of Ratchaburi Electricity Generating Company Limited, a subsidiary, in the amount of Baht 196.49 million due to the increase in Base Availability Credit in 2019 compared to that of 2018, as

million, respectively, increasing by THB 140 million or 14.6%. The main contribution for this increase due to increase in trade receivables from international sales where credit term is traditionally

from the consolidation of Landy. Trade and other receivables were THB 241mn, a decrease of THB 104mn or 30.2% from THB 345mn as of 31 December 2017. The Company gives 90 days credit terms to customers

THB 87mn. The increase was in-line with higher sales in 2017/18. The Company gives 60 – 90 days credit terms to customers. For accounts receivables of more than 120 days, the Company has a policy for

due to the decrease in Base Availability Credit in 2018 compared to that of 2017, as specified in the Power Purchase Agreement. ,.5 The effect of exchange rate of the Company and its subsidiar ies In