Company’s interest-bearing debt, in exclusion of leases liabilities, were THB 6,050 million, up by THB 1,921 million, representing the interest-bearing debt to equity ratio at 0.7 time, up from 0.5 time as of

% 1Q17 MD&A Advanced Info Service Plc. 5 Key Financial Ratio 1Q16 4Q16 1Q17 Interest-bearing debt to equity (times) 1.65 2.30 2.52 Net debt to equity (times) 1.23 1.97 2.17 Net debt to EBITDA (times) 0.85

faithfully, Mr. Hiroaki Sano Managing Director 2018 2017 Gross profit margin 21.5% 19.9% Net profit margin 15.2% 11.6% Debt to Equity ratio 0.09 0.11 Earnings per share 2.58 1.90 ROA 15.8% 12.3% ROE 16.3% 13.2%

% Debt to Equity ratio 0.08 0.09 Earnings per share 3.07 2.58 ROA 14.4% 15.8% ROE 17.5% 16.3%

to average Total Equity Yours faithfully, (Mr. Hiroaki Sano) Managing Director 2017 2016 Gross profit margin 20.6% 13.5% Net profit margin 11.6% 7.1% Debt to Equity ratio 0.11 0.15 Earnings per share

ordinary shares of 1,437,456,000 shares under IPO with a par value of THB 5.00 per share and IPO price at THB 5.20 per share. This capital raising will reduce interest bearing debt to equity ratio of both

of financial institutions and debenture together with minimizing the impacts from full loan guarantee provided to Power Plant business and its high debt resulting in decreasing in debt to equity ratio

49.34 17.69% Finance cost 49.11 68.10 18.99 38.67% Income tax expenses 48.04 57.52 9.48 19.73% Net profit 181.71 202.58 20.87 11.49% Net profit ratio (ROS) 17.16% 15.74% Earnings per share (Baht) 0.34

ค่าเสื่อมราคา และค่า ตัดจ าหน่าย (net debt to EBITDA ratio) (2) อัตราส่วนความสามารถในการช าระดอกเบี้ย (interest coverage ratio) (3) อัตราส่วนความสามารถในการช าระภาระผูกพัน (debt service coverage ratio

bank loans. As a result, net cash decreased by Baht 5,231.66 million from the beginning balance. Net-Debt-to-Equity ratio as of June 30, 2017 was 1.33 times Net-Debt-to-Equity ratio according to the