Return on equity (%) – trailing 53.0 50.2 53.0 50.2 Return on assets (%) – trailing 16.8 17.9 16.8 17.9 Efficiency Ratios Number of days of inventory 38 40 38 38 Collection period (days) 44 45 44 53

of days of inventory 36 32 Collection period (days) 49 43 Accounts payable (days) 50 43 Profitability Ratios Gross profit margin (%) 35.4 34.8 EBITDA margin (%) 20.8 21.0 Net profit margin for the

ratio (times) 1.7 2.1 1.7 2.1 Number of days of inventory 48 30 41 32 Collection period (days) 53 43 49 43 Accounts payable (days) 57 42 50 42 Profitability Ratios Gross profit margin (%) 33.6 35.3 34.5

Collection Period (Days) 37 37 Inventory Turnover Period (Days) 21 19 Average Payable Period (Days) 19 16 Cash Cycle (Days) 39 40 Total Debt to Equity Ratio (Times) 0.43 0.47 Interest Coverage Ratio (Times

Liquidity Ratio (Times) 1.05 0.62 Account Receivable Turnover Ratio (Times) 7.98 7.42 Average Collection Period (Days) 45 48 Inventory Turnover Period (Days) 16 18 Average Payable Period (Days) 15 16 Cash

As at December 31, 2016 Current Ratio (Times) 0.93 1.25 Quick Ratio (Times) 0.46 0.61 Cash flow Liquidity Ratio (Times) 0.72 0.66 Account Receivable Turnover Ratio (Times) 7.76 7.61 Average Collection

Liquidity Ratio (Times) 0.89 0.54 Account Receivable Turnover Ratio (Times) 9.24 8.58 Average Collection Period (Days) 39 42 Inventory Turnover Period (Days) 13 19 Average Payable Period (Days) 16 18 Cash

December 31, 2018 Current Ratio (Times) 1.51 1.48 Quick Ratio (Times) 0.61 0.65 Cash flow Liquidity Ratio (Times) 0.70 0.54 Account Receivable Turnover Ratio (Times) 9.69 8.58 Average Collection Period (Days

Liquidity Ratio (Times) 0.99 0.74 Account Receivable Turnover Ratio (Times) 9.62 9.77 Average Collection Period (Days) 37 37 Inventory Turnover Period (Days) 19 19 Average Payable Period (Days) 16 16 Cash

payable days slightly increased from 65 days to 72 days due to higher vendor financing following network expansion. Credit term and collection period The normal credit term granted by the Company ranges