ratio, however, decreased from 41.1% to 39.6% primarily as a result of improved operational efficiency and cost management especially in Outdoor media business. Consequently, the gross profit was up 26.7

0.75x as of 31 December 2018 because decreases in inventories were more than current liabilities that the Company repaid to loans from financial institutions. Interest-bearing debt to equity ratio

assets resulting from investment in projects for growth in the next 2-3 years. 5. Debt to Equity ratio for the 3-month period ended 31 March 2018 and for the year ended 31 December 2017 was 0.9 time and

working capital because the debt collections from the overdue debtors are more effective, and the management of the trade creditors is better; 2. A decrease of the investment in the trading securities in a

% 2Q17 62% GLOBAL POWER SYNERGY PLC. Q2/2017 Management Discussion & Analysis (MD&A) Ratios Formula Gross profit margin Net profit margin Interest coverage ratio Net Debt to Equity ratio Debt to Equity

Ratio Financial Ratio As of December 31, 2019 As of December 31, 2019 Liquidity Ratio (times) 24.87 23.97 Debt to Equity Ratio (times) 0.05 0.04 Return on Equity - ROE (%) 3.79 (1.10) Return on Assets

subsidiary. The appropriate of capital structure The Group’s debt to equity ratio as at 31 December 2017 is 2.0:1, which is increased from the ratio as at 31 December 2016 at rate of 1.6:1. It results from the

retained earnings as a result of the recent dividend payment in May. Financial Ratio Financial Ratio As of June 30, 2019 Liquidity Ratio (times) 27.80 Debt to Equity Ratio (times) 0.04 Return on Equity - ROE

earnings from the Company’s performance Financial Ratio Financial Ratio As of June 30, 2018 Liquidity Ratio (times) 10.31 Cash Conversion Cycle (days) 282.00 Debt to Equity Ratio (times) 0.12 Return on

of September 30, 2019 Liquidity Ratio (times) 32.34 Debt to Equity Ratio (times) 0.03 Return on Equity - ROE (%) 0.48 Return on Assets - ROA (%) 0.46 Net Profit Margin (%) 0.74 Please be informed