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

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

1. Ms. Sucha Boonyanate, currently Assistant Secretary-General for the Legal Division, will serve as Deputy Secretary-General overseeing the Fundraising Division and the Accounting Supervision and

related information, (2) revising the supervision of major shareholders of business operators under both laws so that it will be applied consistently, (3) reconciling the supervision of persons who work

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

) Other credits linked such as credit ratings or credit event related to ability to repay debt obligation; (7) Commodity such as agricultural products, gold, crude oil, etc.; (8) Other index that fully