%20PUBLIC%20CO%20%20-%20163131%2014-Dec-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
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Report Date : |
14.12.2011 |
IDENTIFICATION DETAILS
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Name : |
DELTA ELECTRONICS (THAILAND) PUBLIC CO. |
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Registered Office : |
714 Moo 4, Praeksa, Amphoe Muang, Samut Prakarn, 10280 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
16.06.1988 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
manufacturer and exporter
of power supplies and electronics equipment and parts. |
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No. of Employees
: |
12,817 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Thailand |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Delta Electronics (Thailand) Public Co.
714 Moo 4, Praeksa
Amphoe Muang
Samut Prakarn, 10280
Thailand
Tel: 66-2-7093200
Fax: 66-2-3240243
Web : www.deltathailand.com
Synthesis
Employees: 12,817
Company Type: Public Subsidiary
Corporate Family: 189
Companies
Ultimate Parent: Avnet, Inc.
Traded: Stock Exchange of Thailand (Bangkok): DELTA
Incorporation Date:
16-Jun-1988
Auditor: Ernst & Young Office Ltd
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Thai Baht
Annual Sales: 1,126.3 1
Net Income: 130.9
Total Assets: 982.3 2
Market Value: 727.7
(25-Nov-2011)
Business Description
Delta Electronics
(Thailand) Public Company Limited is a Thailand-based manufacturer and exporter
of power supplies and electronics equipment and parts. It operates two domestic
plants in Samutprakan and Chachoengsao and oversea plants in India and
Slovakia. The Company offers products in four categories: power supply
products, which are classified into consumer electronics power, such as adapter
and charger and switching power supply for networking and broadband and
printer, information technology (IT) power, including power supplies for
storage and server, and direct current to direct current (DC-DC) converter;
delta energy systems (DES) power products, which are custom designed power
supplies for information technology, telecommunications, industrial application
and others; Telecom power products, including telecom power solutions (TPS),
and uninterruptible power systems (UPS) and component products, including
cooling fan, electromagnetic interference (EMI) filer and solenoid. For the six
months ended 30 June 2011, Delta Electronics (Thailand) Public Company
Limited's total revenue increased 18% to BAH19.01B. Net income decreased 27% to
BAH1.47B. Revenues reflect an increase in revenue from sales and services. Net
income suffered from an increase in selling expenses, administrative expenses,
increased research & development expenses, as well as increase finance
cost.
Industry
Industry Electronic Instruments and Controls
ANZSIC 2006: 2439 - Other
Electrical Equipment Manufacturing
NACE 2002: 3120 - Manufacture
of electricity distribution and control apparatus
NAICS 2002: 335313 - Switchgear
and Switchboard Apparatus Manufacturing
UK SIC 2003: 3120 - Manufacture
of electricity distribution and control apparatus
US SIC 1987: 3613 - Switchgear
and Switchboard Apparatus
Key Executives
|
Name |
Title |
|
Heng-Hsien Hsieh |
Chairman of the Executive Board, President, Director |
|
Po Wen Yu |
Chief Financial Officer, Executive Director |
|
Saowanee Kosutarak |
Chief Information Officer |
|
Niramon Tantiphuntham |
Manager of Accounting, Director |
|
Henry Heng-Hsie Hsieh |
President |
Significant Developments
|
*number of significant developments within the last 12 months
Financial Summary
As of 30-Sep-2011
Key Ratios Company Industry
Current Ratio (MRQ) 2.49 2.32
Quick Ratio (MRQ) 1.81 1.43
Debt to Equity (MRQ) 0.05 0.56
Sales 5 Year Growth -4.04 8.07
Net Profit Margin (TTM) % 7.07 6.72
Return on Assets (TTM) % 9.15 5.54
Return on Equity (TTM) % 14.38 13.32
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = THB 31.72462
2 - Balance Sheet Item Exchange Rate: USD 1 = THB 30.145
Corporate Overview
Location
714 Moo 4, Praeksa
Amphoe Muang
Samut Prakarn, 10280
Thailand
Tel: 66-2-7093200
Fax: 66-2-3240243
Quote Symbol - Exchange
DELTA - Stock
Exchange of Thailand (Bangkok)
Sales THB(mil): 35,730.0
Assets THB(mil) 29,610.5
Employees: 12,817
Fiscal Year End: 31-Dec-2010
Industry: Electronic Instruments and Controls
Incorporation Date: 16-Jun-1988
Company Type: Public Subsidiary
Quoted Status: Quoted
Chairman of the Executive Board, President, Director: Heng-Hsien Hsieh
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Employment Opportunities
· Executives
· Financial Information
· Home Page
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Shareholders
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2439 - Other Electrical Equipment Manufacturing
2429 - Other Electronic Equipment Manufacturing
NACE 2002 Codes:
3230 - Manufacture of television and radio receivers, sound or
video recording or reproducing apparatus and associated goods
3140 - Manufacture of accumulators, primary cells and primary
batteries
3120 - Manufacture of electricity distribution and control
apparatus
2465 - Manufacture of prepared unrecorded media
NAICS 2002 Codes:
334613 - Magnetic and Optical Recording Media Manufacturing
335313 - Switchgear and Switchboard Apparatus Manufacturing
335912 - Primary Battery Manufacturing
335911 - Storage Battery Manufacturing
334310 - Audio and Video Equipment Manufacturing
US SIC 1987:
3613 - Switchgear and Switchboard Apparatus
3691 - Storage Batteries
3651 - Household Audio and Video Equipment
3695 - Magnetic and Optical Recording Media
3692 - Primary Batteries, Dry and Wet
UK SIC 2003:
3140 - Manufacture of accumulators, primary cells and primary
batteries
2465 - Manufacture of prepared unrecorded media
3120 - Manufacture of electricity distribution and control
apparatus
3230 - Manufacture of television and radio receivers, sound or
video recording or reproducing apparatus and associated goods
Business
Description
Delta Electronics
(Thailand) Public Company Limited is a Thailand-based manufacturer and exporter
of power supplies and electronics equipment and parts. It operates two domestic
plants in Samutprakan and Chachoengsao and oversea plants in India and
Slovakia. The Company offers products in four categories: power supply
products, which are classified into consumer electronics power, such as adapter
and charger and switching power supply for networking and broadband and
printer, information technology (IT) power, including power supplies for
storage and server, and direct current to direct current (DC-DC) converter;
delta energy systems (DES) power products, which are custom designed power
supplies for information technology, telecommunications, industrial application
and others; Telecom power products, including telecom power solutions (TPS),
and uninterruptible power systems (UPS) and component products, including
cooling fan, electromagnetic interference (EMI) filer and solenoid. For the six
months ended 30 June 2011, Delta Electronics (Thailand) Public Company
Limited's total revenue increased 18% to BAH19.01B. Net income decreased 27% to
BAH1.47B. Revenues reflect an increase in revenue from sales and services. Net
income suffered from an increase in selling expenses, administrative expenses,
increased research & development expenses, as well as increase finance
cost.
More Business
Descriptions
· Manufacture of electronic components
· Establishments primarily engaged in manufacturing miscellaneous fabricated products, including beauty shop and barber shop equipment; hair work; tobacco pipes and cigarette holders; coin-operated amusement machines; matches; candles; lamp shades; feathers; artificial trees and flowers made from all materials, except glass; dressed and dyed furs; umbrellas, parasols, and canes; and other articles, not elsewhere classified.
· All Other Electrical Equipment and Component Manufacturing
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Corporate Family |
Corporate Structure News: |
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Delta
Electronics (Thailand) Public Co. |
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|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Avnet, Inc. |
Parent |
Phoenix, AZ |
United States |
Electronic Instruments and Controls |
26,534.4 |
17,600 |
|
|
Pending acquisition of Pinnacle Data Systems, Inc..See corporate
structure news on Avnet,
Inc. for details |
|||||||
|
Avnet Technology Solutions Division |
Subsidiary |
Tempe, AZ |
United States |
Retail (Catalog and Mail Order) |
7,040.0 |
2,400 |
|
|
EBV Elektronik GmbH & Co. KG |
Subsidiary |
Poing, Bayern |
Germany |
Appliance and Tool |
1,933.8 |
850 |
|
|
Ebv Elektronik SRL |
Subsidiary |
Cinisello Balsamo, Milano (Milan) |
Italy |
Miscellaneous Capital Goods |
116.0 |
74 |
|
|
EBV Electronik |
Subsidiary |
Moscow |
Russian Federation |
Electronic Instruments and Controls |
|
9 |
|
|
EBV Beteiligungs-Verwaltungs GmbH |
Subsidiary |
Poing, Bayern |
Germany |
Commercial Banks |
|
3 |
|
|
Avnet Italy SRL |
Subsidiary |
Milano, Milano (Milan) |
Italy |
Miscellaneous Financial Services |
0.0 |
72 |
|
|
Thomas Kaubisch GmbH |
Subsidiary |
Poing, Bayern |
Germany |
Printing Services |
5.9 |
10 |
|
|
Erste TENVA Property GmbH Gruber StraĂźe |
Subsidiary |
Poing, Bayern |
Germany |
Consumer Financial Services |
|
|
|
|
EBV Elektronik - Poland |
Branch |
Warszawa |
Poland |
Electronic Instruments and Controls |
|
|
|
|
Avnet Electronics Marketing |
Subsidiary |
Phoenix, AZ |
United States |
Electronic Instruments and Controls |
9,192.8 |
800 |
|
|
Avnet |
Branch |
Richardson, TX |
United States |
Electronic Instruments and Controls |
277.8 |
275 |
|
|
Avnet Emg France |
Subsidiary |
Massy |
France |
Electronic Instruments and Controls |
224.7 |
224 |
|
|
Avnet |
Branch |
Milpitas, CA |
United States |
Computer Services |
24.5 |
150 |
|
|
Avnet |
Branch |
Hoffman Estates, IL |
United States |
Electronic Instruments and Controls |
85.9 |
85 |
|
|
Avnet |
Branch |
San Diego, CA |
United States |
Electronic Instruments and Controls |
80.8 |
80 |
|
|
Avnet |
Branch |
Woodland Hills, CA |
United States |
Electronic Instruments and Controls |
60.6 |
60 |
|
|
Avnet |
Branch |
Madison, AL |
United States |
Computer Hardware |
58.6 |
50 |
|
|
Avnet |
Branch |
Minneapolis, MN |
United States |
Electronic Instruments and Controls |
50.5 |
50 |
|
|
Avnet |
Branch |
Irvine, CA |
United States |
Semiconductors |
28.6 |
50 |
|
|
Avnet |
Branch |
Tampa, FL |
United States |
Electronic Instruments and Controls |
40.4 |
40 |
|
|
Avnet |
Branch |
Austin, TX |
United States |
Electronic Instruments and Controls |
32.3 |
32 |
|
|
Avnet |
Branch |
Englewood, CO |
United States |
Electronic Instruments and Controls |
30.3 |
30 |
|
|
Avnet |
Branch |
Pewaukee, WI |
United States |
Electronic Instruments and Controls |
30.3 |
30 |
|
|
Avnet |
Branch |
Rochester, NY |
United States |
Electronic Instruments and Controls |
6.1 |
30 |
|
|
Avnet (Guadalajara) |
Subsidiary |
Jalisco, Jalisco |
Mexico |
Electronic Instruments and Controls |
|
27 |
|
|
Avnet |
Branch |
Overland Park, KS |
United States |
Electronic Instruments and Controls |
25.3 |
25 |
|
|
Avnet |
Branch |
Cleveland, OH |
United States |
Electronic Instruments and Controls |
22.2 |
22 |
|
|
Avnet |
Branch |
Raleigh, NC |
United States |
Electronic Instruments and Controls |
22.2 |
22 |
|
|
Avnet |
Branch |
Parsippany, NJ |
United States |
Electronic Instruments and Controls |
20.2 |
20 |
|
|
Avnet EMG Elektronische Bauelemente |
Subsidiary |
Vienna |
Austria |
Electronic Instruments and Controls |
|
15 |
|
|
Avnet Logistics |
Subsidiary |
Chandler, AZ |
United States |
Miscellaneous Transportation |
240.1 |
700 |
|
|
Avnet Logistics |
Branch |
Hollis, NH |
United States |
Electronic Instruments and Controls |
50.5 |
50 |
|
|
Avnet Asia Pte LTD |
Subsidiary |
Singapore |
Singapore |
Electronic Instruments and Controls |
1,766.0 |
636 |
|
|
Avnet Asia Pte Ltd - Taiwan Branch (Singapore) |
Subsidiary |
Taipei City, Taipei City |
Taiwan |
|
1,088.0 |
370 |
|
|
Avnet Technology Hong Kong Ltd |
Subsidiary |
Kowloon, Kowloon |
Hong Kong |
Semiconductors |
|
70 |
|
|
Avnet (NZ) |
Subsidiary |
Christchurch |
New Zealand |
Electronic Instruments and Controls |
|
7 |
|
|
Avnet Korea Inc |
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Electronic Instruments and Controls |
|
|
|
|
Avnet Technology Solutions |
Division |
Tempe, AZ |
United States |
Computer Hardware |
7,040.0 |
600 |
|
|
Avnet |
Branch |
San Antonio, TX |
United States |
Electronic Instruments and Controls |
353.5 |
350 |
|
|
Avnet |
Branch |
Peabody, MA |
United States |
Advertising |
67.8 |
300 |
|
|
Avnet |
Branch |
Orlando, FL |
United States |
Retail (Technology) |
16.2 |
50 |
|
|
Avnet Logistics Gmbh |
Subsidiary |
Poing, Bayern |
Germany |
Miscellaneous Transportation |
|
350 |
|
|
Avnet Technology Solutions GmbH |
Subsidiary |
Nettetal |
Germany |
Computer Hardware |
1,063.6 |
310 |
|
|
Bell Microproducts GmbH |
Subsidiary |
Neubiberg, Bayern |
Germany |
Computer Services |
|
150 |
|
|
Avnet Technology Solutions B.V. |
Subsidiary |
Eindhoven, Noord-Brabant |
Netherlands |
Computer Hardware |
110.5 |
41 |
|
|
Avnet B.V. |
Subsidiary |
Breda, Noord-Brabant |
Netherlands |
Electronic Instruments and Controls |
|
42 |
|
|
Avnet Finance B.V. |
Subsidiary |
Breda, Noord-Brabant |
Netherlands |
Miscellaneous Financial Services |
|
2 |
|
|
Bell Microproducts B.V. |
Subsidiary |
Almere, Flevoland |
Netherlands |
Consumer Financial Services |
|
|
|
|
Bell Microproducts Inc |
Subsidiary |
San Jose, CA |
United States |
Electronic Instruments and Controls |
3,021.2 |
200 |
|
|
Bell Microproducts Solutions GmbH |
Subsidiary |
Neubiberg, Bayern |
Germany |
Miscellaneous Capital Goods |
|
170 |
|
|
Avnet |
Division |
Doral, FL |
United States |
Retail (Technology) |
27.4 |
80 |
|
|
Pro Sys |
Subsidiary |
Edison, NJ |
United States |
Software and Programming |
62.0 |
75 |
|
|
Avnet |
Branch |
Montgomery, AL |
United States |
Electronic Instruments and Controls |
65.7 |
65 |
|
|
Avnet |
Branch |
Acton, MA |
United States |
Electronic Instruments and Controls |
60.6 |
60 |
|
|
Rorke Data Inc |
Subsidiary |
Eden Prairie, MN |
United States |
Computer Services |
50.0 |
60 |
|
|
Avnet |
Branch |
San Jose, CA |
United States |
Electronic Instruments and Controls |
25.3 |
25 |
|
|
Bell Microproducts Solutions |
Subsidiary |
Diegem |
Belgium |
Business Services |
52.1 |
22 |
|
|
Avnet |
Branch |
Markham, ON |
Canada |
Computer Hardware |
|
10 |
|
|
Avnet EMG GmbH |
Subsidiary |
Poing |
Germany |
Electronic Instruments and Controls |
1.0 |
200 |
|
|
Nippon Denso Industry Company Ltd. |
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
198.7 |
142 |
|
|
Avnet Europe |
Subsidiary |
Diegem |
Belgium |
Appliance and Tool |
2,167.0 |
126 |
|
|
Avnet Financial Services |
Subsidiary |
Diegem |
Belgium |
Commercial Banks |
0.0 |
|
|
|
ITX Group Limited |
Subsidiary |
Sydney, NSW |
Australia |
Computer Hardware |
140.9 |
105 |
|
|
Recently acquired (previously owned by ITX Group
Limited).See corporate
structure news on Avnet,
Inc. for details |
|||||||
|
Avnet Kopp (Pty) Ltd |
Subsidiary |
Rivonia |
South Africa |
Appliance and Tool |
|
100 |
|
|
Amosdec |
Subsidiary |
Courbevoie |
France |
Computer Services |
16.1 |
74 |
|
|
Recently acquired (previously owned by Ste S G P Paris).See corporate
structure news on Avnet,
Inc. for details |
|||||||
|
Betronik GmbH Berlin Vertrieb |
Subsidiary |
Berlin |
Germany |
Electronic Instruments and Controls |
1.0 |
65 |
|
|
Avnet Pacific Pty Ltd |
Branch |
Sydney, NSW |
Australia |
Business Services |
|
60 |
|
|
Avnet Iberia Sa |
Subsidiary |
Las Rozas De Madrid, Madrid |
Spain |
Appliance and Tool |
56.4 |
52 |
|
|
Broadband Integrated Resources Ltd |
Subsidiary |
Worthington, OH |
United States |
Communications Equipment |
9.5 |
50 |
|
|
Avnet Nortec AB |
Subsidiary |
Solna |
Sweden |
Electronic Instruments and Controls |
17.1 |
42 |
|
|
Avnet Technology Solutions Handelsgesellschaft mbH |
Subsidiary |
Wien |
Austria |
Computer Hardware |
123.1 |
30 |
|
|
Avnet Electronics Marketing |
Subsidiary |
Bayswater, VIC |
Australia |
Office Equipment |
3.3 |
30 |
|
|
Avnet Pacific Pty. Limited |
Subsidiary |
Gladesville, NSW |
Australia |
Rental and Leasing |
|
30 |
|
|
Avnet Computer |
Branch |
Nepean, ON |
Canada |
Software and Programming |
8.2 |
25 |
|
|
Avnet do Brasil Ltda |
Subsidiary |
SĂŁo Paulo , SĂŁo Paulo |
Brazil |
Software and Programming |
50.0 |
24 |
|
|
Avnet Canada |
Subsidiary |
Saint-Laurent, QC |
Canada |
Electronic Instruments and Controls |
23.5 |
18 |
|
|
Jc Tally Trading Co Ltd |
Subsidiary |
Taipei City, Taipei City |
Taiwan |
Electronic Instruments and Controls |
|
15 |
|
|
Recently acquired (previously owned by Jc Tally Trading Co
Ltd).See corporate
structure news on Avnet,
Inc. for details |
|||||||
|
Avnet Nortec A/S |
Subsidiary |
Herlev |
Denmark |
Electronic Instruments and Controls |
25.2 |
12 |
|
|
Horizon Technology Group Limited |
Subsidiary |
Dublin |
Ireland |
Miscellaneous Financial Services |
394.5 |
5 |
|
|
Avnet Ts Ireland Limited |
Subsidiary |
Dublin |
Ireland |
Software and Programming |
17.4 |
18 |
|
|
Abacus Group Ltd. |
Subsidiary |
Stonehouse |
United Kingdom |
Business Services |
0.0 |
3 |
|
|
Alpha 3 Manufacturing Ltd. |
Subsidiary |
Stevenage |
United Kingdom |
Appliance and Tool |
31.9 |
180 |
|
|
Abacus Electronics Holdings Ltd. |
Subsidiary |
Stevenage |
United Kingdom |
Electronic Instruments and Controls |
122.6 |
133 |
|
|
Polar Ltd. |
Subsidiary |
Wokingham |
United Kingdom |
Nonclassifiable Industries |
|
1 |
|
|
Ecc Distribution Ltd. |
Subsidiary |
Manchester |
United Kingdom |
Commercial Banks |
|
|
|
|
Abacus Conelec A/S |
Subsidiary |
Them |
Denmark |
Electronic Instruments and Controls |
38.9 |
70 |
|
|
Abacuss ECC S.r.l. |
Subsidiary |
Cusago |
Italy |
Electronic Instruments and Controls |
1.0 |
70 |
|
|
Abacus Denmark A/S |
Subsidiary |
Them |
Denmark |
Electronic Instruments and Controls |
|
7 |
|
|
Deltron Electronics Ltd. |
Subsidiary |
Newmarket |
United Kingdom |
Electronic Instruments and Controls |
|
|
|
|
Delta Electronics (Thailand) Public Co. |
Subsidiary |
Samut Prakarn |
Thailand |
Electronic Instruments and Controls |
1,126.3 |
12,817 |
|
|
Delta Electronics (Slovakia), s.r.o. |
Subsidiary |
Dubnica nad Váhom |
Slovakia |
Semiconductors |
109.9 |
650 |
|
|
Quiller Holdings Ltd. |
Subsidiary |
Manchester |
United Kingdom |
Nonclassifiable Industries |
|
4 |
|
|
Abacus RDI Deltron |
Subsidiary |
Villepinte Cedex |
France |
Electronic Instruments and Controls |
|
|
|
|
Axess Technology |
Subsidiary |
Rungis Cedex |
France |
Electronic Instruments and Controls |
|
|
|
|
Abacus Deltron (Austria) GmbH |
Subsidiary |
Wien |
Austria |
Electronic Instruments and Controls |
|
|
|
|
Abacus Deltron GmbH |
Subsidiary |
Munchen |
Germany |
Electronic Instruments and Controls |
|
|
|
|
Abacus Deltron (Netherlands) |
Subsidiary |
Almere |
Netherlands |
Electronic Instruments and Controls |
|
|
|
|
EBV Management GmbH |
Subsidiary |
Poing, Bayern |
Germany |
Business Services |
|
3 |
|
|
AVNET EMG GmbH |
Subsidiary |
Poing, Bayern |
Germany |
Electronic Instruments and Controls |
47.4 |
349 |
|
|
Avnet Datamation Solutions |
Subsidiary |
Jakarta |
Indonesia |
Computer Hardware |
60.0 |
|
|
|
Eurotone Electric Limited |
Subsidiary |
Shenzhen |
China |
Electronic Instruments and Controls |
28.0 |
|
|
|
Avnet Malaysia Sdn Bhd |
Subsidiary |
Kuala Lumpur, Wilayah Persekutuan |
Malaysia |
Electronic Instruments and Controls |
1.8 |
|
|
|
Silica (An Avnet Company) |
Subsidiary |
Poing |
Germany |
Electronic Instruments and Controls |
1.0 |
|
|
|
Avnet Silica - Paris |
Subsidiary |
Palaiseau Cedex |
France |
Electronic Instruments and Controls |
|
120 |
|
|
AvnetTechnology ( Hong Kong ) Ltd. |
Subsidiary |
Hong Kong |
Hong Kong |
Software and Programming |
1.0 |
|
|
|
Ontrack Solutions Private Limited |
Subsidiary |
Mumbai |
India |
Computer Services |
|
|
|
|
Prospect Technology Corp |
Subsidiary |
Taipei City, Taipei City |
Taiwan |
Computer Peripherals |
|
|
|
|
Recently acquired (previously owned by Prospect Technology
Corp ).See corporate
structure news on Avnet,
Inc. for details |
|||||||
|
Avnet Puerto Rico |
Subsidiary |
Guaynabo |
Puerto Rico |
Electronic Instruments and Controls |
|
|
|
|
Silica doo |
Subsidiary |
Ljubljana |
Slovenia |
Miscellaneous Capital Goods |
|
|
|
|
Avnet Electronics Marketing Hong Kong |
Subsidiary |
Kowloon, Kowloon |
Hong Kong |
Electronic Instruments and Controls |
|
|
|
|
Memec Group Holdings Ltd. |
Subsidiary |
Stevenage |
United Kingdom |
Commercial Banks |
|
|
|
|
Avnet (Holdings) Ltd |
Subsidiary |
Stevenage |
United Kingdom |
Commercial Banks |
|
1 |
|
|
Avnet Emg Ltd. |
Subsidiary |
Stevenage |
United Kingdom |
Miscellaneous Capital Goods |
22.2 |
199 |
|
|
Avnet Technology Solutions Ltd. |
Subsidiary |
Swindon |
United Kingdom |
Appliance and Tool |
359.5 |
133 |
|
|
Bell Microproducts Ltd. |
Subsidiary |
Chessington |
United Kingdom |
Computer Services |
966.3 |
404 |
|
|
Bell Microproducts (Us) Ltd. |
Subsidiary |
Chessington |
United Kingdom |
|
313.0 |
|
|
|
Openpsl Ltd. |
Subsidiary |
Bracknell |
United Kingdom |
Computer Services |
|
|
|
|
Bell Microproducts Europe Export Ltd. |
Subsidiary |
Bracknell |
United Kingdom |
Computer Services |
|
|
|
|
Openpsl Holdings Ltd. |
Subsidiary |
Bracknell |
United Kingdom |
Computer Services |
|
|
|
|
Open Computing Ltd. |
Subsidiary |
Bracknell |
United Kingdom |
Computer Services |
|
|
|
|
Avnet It Ltd. |
Subsidiary |
Bracknell |
United Kingdom |
Computer Services |
|
|
|
|
Horizon Open Systems (Uk) Ltd. |
Subsidiary |
Warrington |
United Kingdom |
Computer Services |
|
|
|
|
Horizon Open Systems (Ni) Ltd. |
Subsidiary |
Lisburn |
United Kingdom |
Miscellaneous Capital Goods |
0.2 |
2 |
|
|
Commerce Net Trading International Ltd. |
Subsidiary |
Manchester |
United Kingdom |
Business Services |
|
|
|
|
Horizon Enterprise Systems Ltd |
Subsidiary |
Warrington |
United Kingdom |
Computer Services |
|
|
|
|
Clarity Technology Ltd. |
Subsidiary |
Warrington |
United Kingdom |
Software and Programming |
306.2 |
176 |
|
|
Equip Technology Ltd. |
Subsidiary |
Manchester |
United Kingdom |
Business Services |
|
|
|
|
Access Graphics Ltd. |
Subsidiary |
Manchester |
United Kingdom |
Business Services |
|
|
|
|
Flint Distribution Holdings Ltd. |
Subsidiary |
Stevenage |
United Kingdom |
Commercial Banks |
|
|
|
|
Memec Holdings Ltd. |
Subsidiary |
Stevenage |
United Kingdom |
Commercial Banks |
|
|
|
|
Memec Europe Ltd. |
Subsidiary |
Stevenage |
United Kingdom |
Electronic Instruments and Controls |
|
|
|
|
Memec Eire (Holdings) Ltd. |
Subsidiary |
Manchester |
United Kingdom |
Commercial Banks |
|
|
|
|
Avnet India Pvt Ltd |
Joint Venture |
Karnataka |
India |
Miscellaneous Capital Goods |
|
|
|
|
Avnet Technology (Thailand) Co Ltd |
Subsidiary |
Bangkok, Bangkok |
Thailand |
Miscellaneous Capital Goods |
|
|
|
|
Avnet Electronics Marketing Asia (Taiwan) |
Subsidiary |
Taipei |
Taiwan |
Electronic Instruments and Controls |
|
|
|
|
Avnet Australia Pty Ltd |
Subsidiary |
Melbourne, VIC |
Australia |
Office Equipment |
|
|
|
|
Vanda Group |
Subsidiary |
Kowloon |
Hong Kong |
Software and Programming |
|
|
|
|
Avnet Sunshine Solutions |
Subsidiary |
Ho Chi Minh City |
Viet Nam |
Software and Programming |
|
|
|
Executive report
|
Board of
Directors |
|
|
|
|
|||||
|
Chairman of the Executive Board, President, Director |
Chairman |
|
|||||
|
||||||||
|
Chairman |
Chairman |
|
|
||||
|
Chairman of the Board |
Chairman |
|
|
||||
|
||||||||
|
Vice Chairman of the Board, Vice Chairman
of the Executive Board |
Vice-Chairman |
|
|
||||
|
||||||||
|
Vice Chairman & Vice President |
Vice-Chairman |
|
|
||||
|
Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Director |
Director/Board Member |
|
|
||||
|
Independent Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Director |
Director/Board Member |
|
|
||||
|
Managing Director of Human Resources and
Management, Executive Director, Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Director |
Director/Board Member |
|
|
||||
|
Manager of Accounting, Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Chief Financial Officer, Executive
Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Executives |
|
|
|
|
|||||
|
Chairman of the Executive Board,
President, Director |
President |
|
|||||
|
||||||||
|
President |
President |
|
|
||||
|
Head of Stock Management |
Division Head Executive |
|
|
||||
|
Managing Director of Human Resources and
Management, Executive Director, Director |
Managing Director |
|
|
||||
|
||||||||
|
Director-Human Resources, Administration
& Public Relations |
Administration Executive |
|
|
||||
|
Co-Company Secretary |
Company Secretary |
|
|
||||
|
Co-Company Secretary |
Company Secretary |
|
|
||||
|
Chief Financial Officer, Executive
Director |
Finance Executive |
|
|
||||
|
||||||||
|
Chief Financial Officer |
Finance Executive |
|
|
||||
|
Senior Manager of Internal Audit |
Accounting Executive |
|
|
||||
|
||||||||
|
Manager of Accounting, Director |
Accounting Executive |
|
|
||||
|
||||||||
|
Chief Information Officer |
Information Executive |
|
|
||||
|
||||||||
Significant Developments
Ballard Power Systems Inc. Signs MOU With Delta Electronics (Thailand) PLC's Subsidiary To Expand Focus Of Clean Energy Fuel Cell System Sales In India Nov 11, 2011
Ballard Power Systems Inc. announced that it has signed a Memorandum of Understanding (MOU) with Delta Power Solutions (India) Pvt. Ltd., a subsidiary of Delta Electronics (Thailand) PLC, expanding the range of clean energy applications they will focus on under an existing fuel cell system collaboration agreement.
Ballard Power Systems Inc. Announces Dantherm Power's Dantherm Agreement To Collaborate With Delta Electronics (Thailand) PLC's Delta Power Solutions Jul 27, 2011
Ballard Power Systems Inc. announced that Dantherm Power, the backup power systems company in which it has a controlling interest, has signed a collaboration agreement with Delta Power Solutions (India) Pvt. Ltd. [Delta] to market clean energy fuel cell power solutions in the India telecommunications sector. Delta Power Solutions (India) is a subsidiary of Delta Electronics (Thailand) PLC, part of the Delta Group. Under the agreement, Dantherm Power and Delta will jointly work to deploy product field trials comprised of Dantherm Power's direct hydrogen 2-kilowatt (kW) DBX2000 fuel cell system as well as its 5kW DBX5000 fuel cell system, which will be integrated by Delta, along with its Site Management & Control System (SMCS), and deployed at telecom customer sites in India. Delta will take responsibility for installation, commissioning, maintenance and management of these field deployments. These sites will be remotely monitored by Delta's Network Operation Centre (NOC).
Delta Electronics (Thailand) PCL Announces Disposal of Investment by Subsidiary May 09, 2011
Delta Electronics (Thailand) PCL announced that DET SGP Pte. Ltd, a wholly owned subsidiary of the Company, will dispose of its holding of 50% stake in Delta Green (Tianjin) Industries Ltd (DGTJ) to Delta Electronics (H.K.) Ltd., a subsidiary of Delta Electronics Inc., and also a major shareholder holding approximately 20% stake in the Company. DGTJ has registered and paid up capital of USD 22.65 million and is a manufacturer of electronic components. The offered price is USD 15,451,799, or approximately THB 471.28 million.
Delta Electronics (Thailand) PCL to Pay FY 2010 Dividend Feb 15, 2011
Delta Electronics (Thailand) PCL announced it is to pay a fiscal year 2010 dividend of THB 1.70 per share on April 8, 2011 to shareholders of record on March 2, 2011. It paid a dividend of THB 1.10 per share the year previous.
Delta Electronics (Thailand) PCL Establishes New Subsidiary and Sub-Subsidiaries Feb 15, 2011
Delta Electronics
(Thailand) PCL announced it has set up a new and wholly owned subsidiary in
Singapore named Delta Energy Systems (Singapore) Pte. Ltd. with a registered
capital of USD 250,000. It will act as a holding company and a provider of
corporate and management services. Its new Delta Greentech International
(Singapore) Pte. Ltd. sub-subsidiary is based in Singapore, has a registered
capital of USD 27,203,800, and is wholly owned by Delta Greentech International
Holding Limited. It will also be a holding company. Another sub-subsidiary,
Australia-based Delta Energy Systems (Australia) Pty. Ltd., will be engaged in
the trading of renewable energy products and will be wholly owned by Delta
Energy Systems (Singapore) Pte. Ltd. It has a registered capital of AUD
200,000.
SOLON SE Sells
Swiss Subsidiary SOLON Inverters AG to Delta Electronics (Thailand) Public
Co.'s Subsidiary
Dec 14, 2010
SOLON SE announced
that it has sold its Swiss subsidiary SOLON Inverters AG to Delta Energy
Systems (Germany) GmbH, which forms part of the Taiwan-based Delta Electronics
Group. The change of control takes immediate effect. The parties have agreed
not to disclose any details of the transaction.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
37.915929 |
|
Auditor |
Ernst &
Young Office Ltd |
Ernst &
Young Office Ltd |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
1,126.3 |
786.3 |
984.5 |
985.8 |
1,148.7 |
|
Revenue |
1,126.3 |
786.3 |
984.5 |
985.8 |
1,148.7 |
|
Total Revenue |
1,126.3 |
786.3 |
984.5 |
985.8 |
1,148.7 |
|
|
|
|
|
|
|
|
Cost of Revenue |
825.8 |
579.9 |
744.1 |
766.3 |
935.2 |
|
Cost of Revenue, Total |
825.8 |
579.9 |
744.1 |
766.3 |
935.2 |
|
Gross Profit |
300.4 |
206.4 |
240.4 |
219.5 |
213.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
109.6 |
82.8 |
92.5 |
86.2 |
153.5 |
|
Labor & Related Expense |
9.2 |
7.2 |
6.9 |
- |
- |
|
Total Selling/General/Administrative Expenses |
118.8 |
90.0 |
99.4 |
86.2 |
153.5 |
|
Research & Development |
55.2 |
45.0 |
48.9 |
46.0 |
- |
|
Amortization of Intangibles |
- |
- |
- |
1.7 |
2.7 |
|
Amortization of Acquisition Costs |
- |
- |
- |
0.7 |
- |
|
Depreciation/Amortization |
- |
- |
- |
2.4 |
2.7 |
|
Investment Income -
Operating |
-7.1 |
-1.9 |
-1.3 |
-11.7 |
13.8 |
|
Interest/Investment Income - Operating |
-7.1 |
-1.9 |
-1.3 |
-11.7 |
13.8 |
|
Interest Expense (Income) - Net Operating Total |
-7.1 |
-1.9 |
-1.3 |
-11.7 |
13.8 |
|
Restructuring Charge |
- |
- |
- |
2.9 |
4.0 |
|
Impairment-Assets Held for Use |
- |
- |
- |
1.3 |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
- |
1.8 |
0.4 |
|
Unusual Expense (Income) |
- |
- |
- |
6.0 |
4.4 |
|
Other Operating Expense |
10.2 |
12.5 |
13.8 |
6.5 |
- |
|
Other, Net |
-6.5 |
-4.7 |
-5.7 |
-10.8 |
-11.3 |
|
Other Operating Expenses, Total |
3.8 |
7.9 |
8.1 |
-4.3 |
-11.3 |
|
Total Operating Expense |
996.5 |
720.9 |
899.3 |
891.0 |
1,098.3 |
|
|
|
|
|
|
|
|
Operating Income |
129.7 |
65.3 |
85.2 |
94.9 |
50.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-1.9 |
-1.7 |
-4.0 |
-5.1 |
-4.0 |
|
Interest Expense, Net Non-Operating |
-1.9 |
-1.7 |
-4.0 |
-5.1 |
-4.0 |
|
Interest Income -
Non-Operating |
1.9 |
2.1 |
6.3 |
7.5 |
6.6 |
|
Interest/Investment Income - Non-Operating |
1.9 |
2.1 |
6.3 |
7.5 |
6.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.1 |
0.3 |
2.3 |
2.4 |
2.6 |
|
Income Before Tax |
129.7 |
65.7 |
87.6 |
97.3 |
53.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
-2.1 |
1.9 |
0.8 |
5.1 |
1.3 |
|
Income After Tax |
131.8 |
63.8 |
86.8 |
92.1 |
51.7 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extraord Items |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
Net Income |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.2 |
1,238.5 |
|
Basic EPS Excl Extraord Items |
0.10 |
0.05 |
0.07 |
0.07 |
0.04 |
|
Basic/Primary EPS Incl Extraord Items |
0.10 |
0.05 |
0.07 |
0.07 |
0.04 |
|
Diluted Net Income |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
Diluted Weighted Average Shares |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.0 |
|
Diluted EPS Excl Extraord Items |
0.10 |
0.05 |
0.07 |
0.07 |
0.04 |
|
Diluted EPS Incl Extraord Items |
0.10 |
0.05 |
0.07 |
0.07 |
0.04 |
|
Dividends per Share - Common Stock Primary Issue |
0.05 |
0.03 |
0.05 |
0.04 |
0.03 |
|
Gross Dividends - Common Stock |
59.0 |
40.0 |
59.8 |
47.3 |
39.2 |
|
Interest Expense, Supplemental |
1.9 |
1.7 |
4.0 |
5.1 |
4.0 |
|
Depreciation, Supplemental |
20.6 |
19.9 |
22.7 |
24.9 |
27.5 |
|
Total Special Items |
- |
- |
- |
6.8 |
5.1 |
|
Normalized Income Before Tax |
129.7 |
65.7 |
87.6 |
104.0 |
58.2 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
- |
- |
0.3 |
0.1 |
|
Inc Tax Ex Impact of Sp Items |
-2.1 |
1.9 |
0.8 |
5.5 |
1.4 |
|
Normalized Income After Tax |
131.8 |
63.8 |
86.8 |
98.6 |
56.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
130.9 |
63.8 |
86.8 |
98.6 |
56.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.10 |
0.05 |
0.07 |
0.08 |
0.05 |
|
Diluted Normalized EPS |
0.10 |
0.05 |
0.07 |
0.08 |
0.05 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
0.7 |
0.8 |
|
Amort of Intangibles, Supplemental |
1.7 |
1.7 |
1.7 |
1.7 |
1.9 |
|
Research & Development Exp, Supplemental |
55.2 |
45.0 |
48.9 |
46.0 |
- |
|
Normalized EBIT |
122.7 |
63.5 |
84.0 |
89.3 |
68.6 |
|
Normalized EBITDA |
145.0 |
85.0 |
108.4 |
116.6 |
98.8 |
|
Defined Contribution Expense - Domestic |
0.8 |
0.5 |
0.6 |
0.6 |
0.6 |
|
Total Pension Expense |
0.8 |
0.5 |
0.6 |
0.6 |
0.6 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
30.145 |
33.34 |
34.78 |
33.685 |
36.15 |
|
Auditor |
Ernst &
Young Office Ltd |
Ernst &
Young Office Ltd |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
305.4 |
316.5 |
262.5 |
272.6 |
188.1 |
|
Short Term Investments |
0.0 |
5.4 |
1.5 |
2.4 |
2.5 |
|
Cash and Short Term Investments |
305.4 |
321.9 |
264.1 |
274.9 |
190.5 |
|
Accounts Receivable -
Trade, Gross |
207.0 |
166.2 |
174.2 |
205.5 |
229.7 |
|
Provision for Doubtful
Accounts |
-2.6 |
-1.7 |
-2.2 |
-1.4 |
-2.9 |
|
Trade Accounts Receivable - Net |
204.4 |
164.5 |
172.0 |
204.0 |
226.8 |
|
Other Receivables |
17.8 |
10.1 |
9.9 |
10.1 |
8.2 |
|
Total Receivables, Net |
222.2 |
174.6 |
181.9 |
214.2 |
235.1 |
|
Inventories - Finished Goods |
92.7 |
43.5 |
48.5 |
33.1 |
41.7 |
|
Inventories - Work In Progress |
15.9 |
11.2 |
11.9 |
12.5 |
11.4 |
|
Inventories - Raw Materials |
128.3 |
81.4 |
83.2 |
76.0 |
95.4 |
|
Inventories - Other |
-26.6 |
-21.3 |
-19.0 |
-16.1 |
-20.0 |
|
Total Inventory |
210.4 |
114.9 |
124.5 |
105.5 |
128.5 |
|
Prepaid Expenses |
11.6 |
10.3 |
9.3 |
7.4 |
5.3 |
|
Other Current Assets |
7.2 |
2.1 |
1.7 |
1.8 |
1.9 |
|
Other Current Assets, Total |
7.2 |
2.1 |
1.7 |
1.8 |
1.9 |
|
Total Current Assets |
756.8 |
623.7 |
581.4 |
603.8 |
561.3 |
|
|
|
|
|
|
|
|
Buildings |
78.1 |
65.6 |
62.4 |
55.1 |
34.1 |
|
Land/Improvements |
14.3 |
13.4 |
11.1 |
13.7 |
8.7 |
|
Machinery/Equipment |
217.8 |
186.5 |
176.8 |
172.8 |
167.3 |
|
Construction in
Progress |
1.1 |
0.6 |
0.8 |
0.5 |
8.3 |
|
Other
Property/Plant/Equipment |
78.1 |
67.6 |
64.3 |
60.9 |
65.1 |
|
Property/Plant/Equipment - Gross |
389.4 |
333.8 |
315.3 |
302.9 |
283.4 |
|
Accumulated Depreciation |
-248.1 |
-224.5 |
-204.1 |
-194.8 |
-183.8 |
|
Property/Plant/Equipment - Net |
141.3 |
109.3 |
111.3 |
108.2 |
99.6 |
|
Goodwill, Net |
10.2 |
9.2 |
8.8 |
9.1 |
9.2 |
|
Intangibles - Gross |
32.9 |
32.9 |
- |
- |
29.4 |
|
Accumulated Intangible Amortization |
-10.0 |
-8.3 |
- |
- |
- |
|
Intangibles, Net |
22.9 |
24.6 |
26.3 |
28.0 |
29.4 |
|
LT Investment - Affiliate Companies |
18.1 |
17.7 |
16.9 |
15.0 |
11.7 |
|
LT Investments - Other |
13.5 |
14.9 |
18.5 |
5.5 |
6.1 |
|
Long Term Investments |
31.6 |
32.6 |
35.4 |
20.5 |
17.7 |
|
Deferred Income Tax - Long Term Asset |
7.6 |
2.5 |
1.9 |
- |
- |
|
Restricted Cash - Long Term |
10.3 |
9.6 |
6.8 |
7.9 |
6.2 |
|
Other Long Term Assets |
1.5 |
0.9 |
1.0 |
2.0 |
1.2 |
|
Other Long Term Assets, Total |
19.4 |
12.9 |
9.7 |
9.9 |
7.4 |
|
Total Assets |
982.3 |
812.4 |
772.9 |
779.4 |
724.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
180.3 |
143.6 |
127.2 |
148.6 |
171.9 |
|
Accrued Expenses |
49.6 |
35.2 |
34.3 |
40.8 |
38.9 |
|
Notes Payable/Short Term Debt |
38.0 |
39.6 |
67.2 |
58.4 |
50.9 |
|
Customer Advances |
4.2 |
5.4 |
3.7 |
4.8 |
6.0 |
|
Income Taxes Payable |
6.6 |
5.8 |
5.3 |
6.1 |
1.2 |
|
Other Payables |
12.4 |
8.0 |
5.4 |
4.5 |
6.2 |
|
Other Current Liabilities |
13.5 |
8.9 |
9.2 |
9.4 |
12.2 |
|
Other Current liabilities, Total |
36.8 |
28.1 |
23.6 |
24.8 |
25.6 |
|
Total Current Liabilities |
304.6 |
246.5 |
252.3 |
272.6 |
287.3 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
38.0 |
39.6 |
67.2 |
58.4 |
50.9 |
|
|
|
|
|
|
|
|
Minority Interest |
2.9 |
1.8 |
1.8 |
1.6 |
1.5 |
|
Reserves |
36.2 |
35.9 |
35.9 |
35.3 |
33.1 |
|
Other Long Term Liabilities |
1.3 |
0.7 |
0.3 |
0.2 |
0.8 |
|
Other Liabilities, Total |
37.5 |
36.5 |
36.2 |
35.5 |
33.9 |
|
Total Liabilities |
345.0 |
284.8 |
290.3 |
309.8 |
322.8 |
|
|
|
|
|
|
|
|
Common Stock |
41.4 |
37.4 |
35.9 |
37.0 |
34.5 |
|
Common Stock |
41.4 |
37.4 |
35.9 |
37.0 |
34.5 |
|
Additional Paid-In Capital |
49.5 |
44.7 |
42.9 |
44.3 |
41.3 |
|
Retained Earnings (Accumulated Deficit) |
604.0 |
477.7 |
434.4 |
421.8 |
350.6 |
|
Unrealized Gain (Loss) |
0.0 |
3.2 |
-0.6 |
-0.1 |
0.1 |
|
Translation Adjustment |
-57.6 |
-35.5 |
-30.0 |
-33.3 |
-24.5 |
|
Other Equity, Total |
-57.6 |
-35.5 |
-30.0 |
-33.3 |
-24.5 |
|
Total Equity |
637.3 |
527.5 |
482.6 |
469.7 |
401.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
982.3 |
812.4 |
772.9 |
779.4 |
724.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,246.1 |
|
Total Common Shares Outstanding |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,246.1 |
|
Employees |
12,817 |
- |
- |
11,677 |
12,585 |
|
Accumulated Intangible Amort, Suppl. |
10.0 |
8.3 |
- |
- |
- |
|
Deferred Revenue - Current |
4.2 |
5.4 |
3.7 |
4.8 |
6.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
37.915929 |
|
Auditor |
Ernst &
Young Office Ltd |
Ernst &
Young Office Ltd |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
129.7 |
65.7 |
87.6 |
97.3 |
51.7 |
|
Depreciation |
20.6 |
19.9 |
22.7 |
24.9 |
27.5 |
|
Depreciation/Depletion |
20.6 |
19.9 |
22.7 |
24.9 |
27.5 |
|
Amortization of Intangibles |
1.7 |
1.7 |
1.7 |
1.7 |
1.9 |
|
Amortization of Acquisition Costs |
- |
- |
0.0 |
0.7 |
0.8 |
|
Amortization |
1.7 |
1.7 |
1.7 |
2.4 |
2.7 |
|
Unusual Items |
-2.9 |
2.9 |
0.8 |
3.2 |
0.4 |
|
Equity in Net Earnings (Loss) |
-0.3 |
-1.0 |
-1.8 |
-2.3 |
-1.0 |
|
Other Non-Cash Items |
9.1 |
-0.5 |
-0.6 |
-5.9 |
3.5 |
|
Non-Cash Items |
5.9 |
1.5 |
-1.6 |
-5.0 |
2.9 |
|
Accounts Receivable |
-22.1 |
15.5 |
29.3 |
42.6 |
7.4 |
|
Inventories |
-82.1 |
13.2 |
-26.9 |
37.2 |
-2.6 |
|
Other Assets |
-10.8 |
-1.7 |
0.9 |
-4.3 |
-4.8 |
|
Accounts Payable |
20.0 |
11.1 |
-18.4 |
-36.2 |
2.0 |
|
Other Liabilities |
12.2 |
1.2 |
-10.2 |
-12.1 |
-7.9 |
|
Other Operating Cash Flow |
-3.3 |
-3.4 |
3.0 |
-1.3 |
- |
|
Changes in Working Capital |
-86.1 |
36.0 |
-22.3 |
26.0 |
-5.9 |
|
Cash from Operating Activities |
71.8 |
124.6 |
88.1 |
145.6 |
79.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-46.5 |
-15.0 |
-28.0 |
-31.7 |
-25.0 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
-0.3 |
|
Capital Expenditures |
-46.5 |
-15.0 |
-28.0 |
-31.7 |
-25.3 |
|
Sale of Fixed Assets |
0.2 |
0.4 |
0.7 |
3.2 |
1.7 |
|
Sale/Maturity of Investment |
6.9 |
1.3 |
1.4 |
0.0 |
0.4 |
|
Investment, Net |
- |
- |
0.0 |
0.7 |
-0.2 |
|
Purchase of Investments |
- |
- |
-0.5 |
-0.8 |
0.9 |
|
Sale of Intangible Assets |
- |
- |
- |
0.0 |
16.4 |
|
Other Investing Cash Flow |
- |
- |
-13.7 |
0.3 |
2.6 |
|
Other Investing Cash Flow Items, Total |
7.1 |
1.7 |
-12.1 |
3.4 |
21.7 |
|
Cash from Investing Activities |
-39.4 |
-13.4 |
-40.1 |
-28.4 |
-3.6 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
0.0 |
0.0 |
0.0 |
|
Financing Cash Flow Items |
- |
- |
0.0 |
0.0 |
0.0 |
|
Cash Dividends Paid - Common |
-59.0 |
-40.0 |
-59.8 |
-47.3 |
-39.2 |
|
Total Cash Dividends Paid |
-59.0 |
-40.0 |
-59.8 |
-47.3 |
-39.2 |
|
Sale/Issuance of
Common |
0.0 |
0.0 |
0.0 |
0.0 |
1.5 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
1.5 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
1.5 |
|
Short Term Debt Issued |
- |
- |
11.1 |
3.7 |
42.8 |
|
Short Term Debt
Reduction |
-5.5 |
-29.3 |
0.0 |
- |
- |
|
Short Term Debt, Net |
-5.5 |
-29.3 |
11.1 |
3.7 |
42.8 |
|
Long Term Debt
Reduction |
- |
- |
- |
0.0 |
-57.2 |
|
Long Term Debt, Net |
- |
- |
- |
0.0 |
-57.2 |
|
Issuance (Retirement) of Debt, Net |
-5.5 |
-29.3 |
11.1 |
3.7 |
-14.4 |
|
Cash from Financing Activities |
-64.5 |
-69.3 |
-48.7 |
-43.6 |
-52.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-11.3 |
-1.2 |
-0.9 |
-4.1 |
-20.0 |
|
Net Change in Cash |
-43.4 |
40.8 |
-1.5 |
69.6 |
3.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
332.6 |
266.0 |
275.2 |
198.5 |
188.5 |
|
Net Cash - Ending Balance |
290.2 |
307.4 |
273.7 |
268.1 |
191.8 |
|
Cash Interest Paid |
1.8 |
2.4 |
3.7 |
5.4 |
5.2 |
|
Cash Taxes Paid |
3.0 |
3.0 |
4.3 |
4.7 |
3.2 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
37.915929 |
|
Auditor |
Ernst &
Young Office Ltd |
Ernst &
Young Office Ltd |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Sales and service income |
1,126.3 |
786.3 |
984.5 |
985.8 |
1,148.7 |
|
Total Revenue |
1,126.3 |
786.3 |
984.5 |
985.8 |
1,148.7 |
|
|
|
|
|
|
|
|
Cost of Sales |
825.8 |
579.9 |
744.1 |
766.3 |
935.2 |
|
Selling/Admin. Exp. |
- |
- |
- |
- |
153.5 |
|
Selling Expenses |
68.8 |
55.9 |
62.5 |
53.2 |
- |
|
Administrative Expenses |
40.8 |
26.9 |
30.0 |
32.9 |
- |
|
Gain on Exchange Rate |
- |
- |
- |
-8.0 |
- |
|
AFS securities |
-3.1 |
- |
- |
- |
- |
|
Dividend Income |
-0.9 |
-1.1 |
-1.3 |
-1.4 |
-0.6 |
|
Gain on exchange |
-2.7 |
- |
- |
- |
- |
|
Compensation Income fr Cancel Order |
- |
- |
- |
-5.4 |
- |
|
Other Income |
-6.5 |
-4.7 |
-5.7 |
-5.4 |
-11.3 |
|
Share of Gains-Inv. under Equity Method |
-0.3 |
-1.0 |
-1.8 |
-2.3 |
-1.0 |
|
Research and Development Expenses |
55.2 |
45.0 |
48.9 |
46.0 |
- |
|
Management Benefit Expense |
9.2 |
7.2 |
6.9 |
- |
- |
|
Loss on Exchange Rate |
0.0 |
0.2 |
1.9 |
0.0 |
15.4 |
|
Loss on Disposal of Assets |
- |
- |
- |
1.8 |
0.4 |
|
Amortisation of Goodwill |
- |
- |
- |
0.7 |
- |
|
Amortisation of Intangible Assets |
- |
- |
- |
1.7 |
2.7 |
|
Restructuring Expenses |
- |
- |
- |
2.9 |
4.0 |
|
Loss on Impairment of Assets |
- |
- |
- |
1.3 |
- |
|
Other Expenses |
10.2 |
12.5 |
13.8 |
6.5 |
- |
|
Total Operating Expense |
996.5 |
720.9 |
899.3 |
891.0 |
1,098.3 |
|
|
|
|
|
|
|
|
Interest Expenses |
-1.9 |
-1.7 |
-4.0 |
-5.1 |
-4.0 |
|
Interest Income |
1.9 |
2.1 |
6.3 |
7.5 |
6.6 |
|
Net Income Before Taxes |
129.7 |
65.7 |
87.6 |
97.3 |
53.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-2.1 |
1.9 |
0.8 |
5.1 |
1.3 |
|
Net Income After Taxes |
131.8 |
63.8 |
86.8 |
92.1 |
51.7 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extra. Items |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
Net Income |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.2 |
1,238.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.10 |
0.05 |
0.07 |
0.07 |
0.04 |
|
Basic EPS Including ExtraOrdinary Item |
0.10 |
0.05 |
0.07 |
0.07 |
0.04 |
|
Diluted Net Income |
130.9 |
63.8 |
86.8 |
92.1 |
51.7 |
|
Diluted Weighted Average Shares |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.10 |
0.05 |
0.07 |
0.07 |
0.04 |
|
Diluted EPS Including ExtraOrd Items |
0.10 |
0.05 |
0.07 |
0.07 |
0.04 |
|
DPS-Common Stock |
0.05 |
0.03 |
0.05 |
0.04 |
0.03 |
|
Gross Dividends - Common Stock |
59.0 |
40.0 |
59.8 |
47.3 |
39.2 |
|
Normalized Income Before Taxes |
129.7 |
65.7 |
87.6 |
104.0 |
58.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
-2.1 |
1.9 |
0.8 |
5.5 |
1.4 |
|
Normalized Income After Taxes |
131.8 |
63.8 |
86.8 |
98.6 |
56.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
130.9 |
63.8 |
86.8 |
98.6 |
56.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.10 |
0.05 |
0.07 |
0.08 |
0.05 |
|
Diluted Normalized EPS |
0.10 |
0.05 |
0.07 |
0.08 |
0.05 |
|
Interest Expense |
1.9 |
1.7 |
4.0 |
5.1 |
4.0 |
|
Amort of Acquisition Costs |
- |
- |
- |
0.7 |
0.8 |
|
Amort of Intangibles |
1.7 |
1.7 |
1.7 |
1.7 |
1.9 |
|
Depreciation |
20.6 |
19.9 |
22.7 |
24.9 |
27.5 |
|
Research and Development Expenses |
55.2 |
45.0 |
48.9 |
46.0 |
- |
|
Provident Fund |
0.8 |
0.5 |
0.6 |
0.6 |
0.6 |
|
Total Pension Expense |
0.8 |
0.5 |
0.6 |
0.6 |
0.6 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
30.145 |
33.34 |
34.78 |
33.685 |
36.15 |
|
Auditor |
Ernst &
Young Office Ltd |
Ernst &
Young Office Ltd |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash/Equivalents |
305.4 |
316.5 |
262.5 |
272.6 |
188.1 |
|
Invest.-Secs. |
0.0 |
5.4 |
1.5 |
2.4 |
2.5 |
|
Accounts Receivable - Related |
8.3 |
8.0 |
8.1 |
9.0 |
7.9 |
|
Accounts Receivable - Unrelated |
198.7 |
158.2 |
166.1 |
196.5 |
221.8 |
|
Doubtful Account |
-2.6 |
-1.7 |
-2.2 |
-1.4 |
-2.9 |
|
ST Loans/Amounts due from Related |
- |
- |
0.1 |
1.3 |
0.6 |
|
Finished Goods |
92.7 |
43.5 |
48.5 |
33.1 |
41.7 |
|
Work in Process |
15.9 |
11.2 |
11.9 |
12.5 |
11.4 |
|
Raw Materials |
108.3 |
64.9 |
66.4 |
63.7 |
70.5 |
|
Raw Materials in Transit |
20.0 |
16.5 |
16.8 |
12.4 |
25.0 |
|
Reduction Cost to NRV |
- |
- |
-3.1 |
- |
- |
|
Allowance for inventories |
-26.6 |
-21.3 |
-18.0 |
-20.0 |
-21.4 |
|
Forward Contract Receivables |
0.3 |
0.4 |
1.7 |
0.9 |
0.1 |
|
Input Tax Refund |
11.3 |
8.3 |
5.8 |
6.6 |
6.8 |
|
Advance Payment |
- |
- |
2.1 |
3.9 |
1.4 |
|
Prepaid Expenses |
1.1 |
1.5 |
1.9 |
1.7 |
3.0 |
|
Prepaid Tax |
10.5 |
8.8 |
7.4 |
5.7 |
2.3 |
|
Other Accounts Receivable |
6.2 |
1.4 |
2.3 |
1.4 |
0.7 |
|
Others |
7.2 |
2.1 |
1.7 |
1.8 |
1.9 |
|
Total Current Assets |
756.8 |
623.7 |
581.4 |
603.8 |
561.3 |
|
|
|
|
|
|
|
|
Investment inAssociated Company |
18.1 |
17.7 |
16.9 |
15.0 |
11.7 |
|
Dep. at Banks with Restrictions |
7.0 |
6.3 |
6.8 |
7.9 |
6.2 |
|
Invest-Other |
13.5 |
14.9 |
18.5 |
5.5 |
6.1 |
|
Land |
14.3 |
13.4 |
11.1 |
13.7 |
8.7 |
|
Building |
78.1 |
65.6 |
62.4 |
55.1 |
34.1 |
|
Mach./Equip. |
195.1 |
161.7 |
153.4 |
150.2 |
145.7 |
|
Mold |
32.3 |
26.8 |
24.9 |
23.8 |
29.2 |
|
Installation |
30.6 |
27.2 |
25.7 |
26.8 |
26.2 |
|
Constr. in Progr |
1.1 |
0.6 |
0.8 |
0.5 |
8.3 |
|
Computers |
22.8 |
24.8 |
23.4 |
22.6 |
21.6 |
|
Others |
15.2 |
13.5 |
13.7 |
10.4 |
9.7 |
|
Accumulated Depreciation |
-246.6 |
-223.1 |
-202.7 |
-193.4 |
-183.8 |
|
Allowance for Impairment Loss |
-1.5 |
-1.4 |
-1.3 |
-1.4 |
- |
|
Consol. Goodwill |
10.2 |
9.2 |
8.8 |
9.1 |
9.2 |
|
Deferred Tax Asset |
7.6 |
2.5 |
1.9 |
- |
- |
|
Intangibles - Patent Rights |
- |
- |
26.3 |
27.9 |
- |
|
Other Intangible Assets |
- |
- |
0.0 |
0.1 |
- |
|
Intangibles - Patent Rights |
32.8 |
32.9 |
- |
- |
29.4 |
|
Intangiles - Others |
0.1 |
0.1 |
- |
- |
0.0 |
|
Deposit for Pur. of Land& Adv. Construct |
3.3 |
3.3 |
- |
- |
- |
|
Accumulated amortisation |
-10.0 |
-8.3 |
- |
- |
- |
|
Others |
1.5 |
0.9 |
1.0 |
2.0 |
1.2 |
|
Total Assets |
982.3 |
812.4 |
772.9 |
779.4 |
724.7 |
|
|
|
|
|
|
|
|
ST Loan-Fin Inst |
38.0 |
39.6 |
67.2 |
58.4 |
50.9 |
|
Acct. Pay-Relate |
31.0 |
12.6 |
12.7 |
12.5 |
4.7 |
|
Acct Pay-Unrelat |
146.9 |
126.7 |
112.8 |
134.5 |
165.5 |
|
Am. Due to Relat |
2.3 |
4.3 |
1.7 |
1.7 |
1.7 |
|
Accrd. Expenses |
47.2 |
32.1 |
33.4 |
39.5 |
36.8 |
|
Advance Rcvd. |
4.2 |
5.4 |
3.7 |
4.8 |
6.0 |
|
Other Acct. Pay. |
12.4 |
8.0 |
5.4 |
4.5 |
6.2 |
|
VAT Payable |
2.4 |
3.1 |
0.9 |
1.3 |
2.1 |
|
Tax Payable |
6.6 |
5.8 |
5.3 |
6.1 |
1.2 |
|
Provisions |
5.2 |
3.4 |
3.8 |
5.9 |
8.1 |
|
Others |
8.3 |
5.5 |
5.4 |
3.5 |
4.1 |
|
Total Current Liabilities |
304.6 |
246.5 |
252.3 |
272.6 |
287.3 |
|
|
|
|
|
|
|
|
Provision |
36.2 |
35.9 |
35.9 |
35.3 |
33.1 |
|
Other Liabilities |
1.3 |
0.7 |
0.3 |
0.2 |
0.8 |
|
Minor. Interest |
2.9 |
1.8 |
1.8 |
1.6 |
1.5 |
|
Total Liabilities |
345.0 |
284.8 |
290.3 |
309.8 |
322.8 |
|
|
|
|
|
|
|
|
Share Capital |
41.4 |
37.4 |
35.9 |
37.0 |
34.5 |
|
Paid-in Capital |
49.5 |
44.7 |
42.9 |
44.3 |
41.3 |
|
Unreal. Gain-Sec |
0.0 |
3.2 |
-0.6 |
-0.1 |
0.1 |
|
Translation Adj. |
-57.6 |
-35.5 |
-30.0 |
-33.3 |
-24.5 |
|
Statutory Reserv |
4.2 |
3.8 |
3.6 |
3.7 |
3.5 |
|
Retained Earning |
599.8 |
473.9 |
430.8 |
418.0 |
347.1 |
|
Total Equity |
637.3 |
527.5 |
482.6 |
469.7 |
401.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
982.3 |
812.4 |
772.9 |
779.4 |
724.7 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,246.1 |
|
Total Common Shares Outstanding |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,246.1 |
|
Accumulated Intangible Amort, Suppl. |
10.0 |
8.3 |
- |
- |
- |
|
Deferred Revenue - Current |
4.2 |
5.4 |
3.7 |
4.8 |
6.0 |
|
Full-Time Employees |
12,817 |
- |
- |
11,677 |
12,585 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
37.915929 |
|
Auditor |
Ernst &
Young Office Ltd |
Ernst &
Young Office Ltd |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income |
129.7 |
65.7 |
87.6 |
97.3 |
51.7 |
|
Depreciation |
20.6 |
19.9 |
22.7 |
24.9 |
27.5 |
|
Amort.-Fwd. Contract |
-0.1 |
0.1 |
-0.2 |
0.2 |
0.1 |
|
Amortisation-Goodwil |
- |
- |
0.0 |
0.7 |
0.8 |
|
Amotisation of Other Intangible |
1.7 |
1.7 |
1.7 |
1.7 |
1.9 |
|
Doubtful Accounts |
0.7 |
-0.2 |
0.9 |
-1.6 |
-6.8 |
|
Prov.-Obsolete Inven |
2.9 |
-0.7 |
1.9 |
-3.0 |
-7.1 |
|
Gain on sales of investments in AFS |
-3.1 |
0.0 |
- |
- |
- |
|
Accrual of Provisions |
6.4 |
2.3 |
4.3 |
5.8 |
2.3 |
|
Loss fr. Disposal of Invest. - AFS Secur |
- |
- |
1.0 |
- |
- |
|
Dividend Received fr. Inv. in AFS Secur |
0.0 |
-0.1 |
-0.1 |
-0.2 |
- |
|
Gain/Loss-Disp Asset |
0.3 |
0.0 |
-0.1 |
1.8 |
0.4 |
|
Allowancefor Impairment Loss of Assets |
- |
- |
0.0 |
1.3 |
- |
|
Gain-Sale Secs. |
- |
- |
- |
0.0 |
0.0 |
|
Loss fr. Disposal of Investment in Sub. |
- |
- |
- |
0.0 |
1.6 |
|
Disposal of Invest in Assoc Co |
- |
- |
- |
0.0 |
-0.1 |
|
Share of Loss- Investment |
-0.3 |
-1.0 |
-1.8 |
-2.3 |
-1.0 |
|
Dim. Val Investment in Other Parties |
0.0 |
3.0 |
0.0 |
0.2 |
- |
|
Unrealised gain on exchange |
-0.8 |
-1.7 |
-5.0 |
-4.9 |
13.6 |
|
Minority Interest |
- |
- |
- |
- |
0.0 |
|
Interest Income |
-1.9 |
-2.1 |
-6.3 |
-7.5 |
- |
|
Interest Expenses |
1.9 |
1.7 |
4.0 |
5.1 |
- |
|
Acct. Receivable |
-22.1 |
15.1 |
28.1 |
43.8 |
6.3 |
|
Am. Due fr Related |
0.0 |
0.4 |
1.2 |
-1.3 |
1.0 |
|
Inventories |
-82.1 |
13.2 |
-26.9 |
37.2 |
-2.6 |
|
Other Current Assets |
-10.2 |
1.4 |
-0.2 |
-3.6 |
-5.1 |
|
Other Non-Cur. Asset |
-0.7 |
-3.1 |
1.0 |
-0.7 |
0.3 |
|
Acct. Payable |
22.3 |
8.4 |
-18.5 |
-36.0 |
2.4 |
|
Am. Due to Related |
-2.3 |
2.7 |
0.1 |
-0.2 |
-0.3 |
|
Other Current Liabs. |
14.0 |
4.3 |
-4.8 |
-1.1 |
2.8 |
|
Provisions |
-2.5 |
-3.2 |
-5.4 |
-10.2 |
-10.8 |
|
Other Non-Current Liabs. |
0.7 |
0.2 |
0.1 |
-0.7 |
0.1 |
|
Cash Received from Interest Income |
1.5 |
2.0 |
6.5 |
7.3 |
- |
|
Cash paid for interest expenses |
-1.8 |
-2.4 |
-3.7 |
-5.4 |
- |
|
Cash paid for corporate income tax |
-3.0 |
-3.0 |
-4.3 |
-4.7 |
- |
|
Unrealized Gain on Exchange Rate |
- |
- |
4.6 |
1.6 |
- |
|
Cash from Operating Activities |
71.8 |
124.6 |
88.1 |
145.6 |
79.0 |
|
|
|
|
|
|
|
|
Decrease in Long Term Investment |
1.3 |
0.5 |
0.0 |
- |
- |
|
Decr. Fixed Deposits |
0.0 |
0.8 |
0.9 |
- |
- |
|
Incr. Fixed Deposits |
- |
- |
- |
-1.2 |
0.8 |
|
Proceed from disposal in investments in |
5.6 |
0.0 |
0.5 |
0.0 |
0.1 |
|
Incr. Invest Secs. |
- |
- |
-1.0 |
- |
- |
|
Incr. Loan to Relate |
- |
- |
0.0 |
0.7 |
-0.2 |
|
Incr. Invest Others |
- |
- |
0.5 |
0.4 |
0.2 |
|
Capital Expenditures |
-46.5 |
-15.0 |
-28.0 |
-31.7 |
-25.0 |
|
Sales of Fixed Asset |
0.2 |
0.4 |
0.7 |
3.2 |
1.7 |
|
Sale Avail-for-Sale |
- |
- |
- |
0.0 |
0.3 |
|
Proc.-Liquidation |
- |
- |
- |
0.0 |
2.6 |
|
Other Investments |
- |
- |
-13.7 |
- |
- |
|
Decrease in Consolidation Goodwill |
- |
- |
- |
0.0 |
16.4 |
|
Increase in Other Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
-0.3 |
|
Received from Invst. Avai-for-Sale Secur |
- |
- |
- |
- |
-0.1 |
|
Dividend Received - Return Fund Invest. |
- |
- |
0.0 |
0.3 |
- |
|
Cash from Investing Activities |
-39.4 |
-13.4 |
-40.1 |
-28.4 |
-3.6 |
|
|
|
|
|
|
|
|
Bank OD/Loan-Fin. Inst. |
- |
- |
11.1 |
3.7 |
42.8 |
|
Decrease in Bank OD/Loan-Fin. Inst. |
-5.5 |
-29.3 |
0.0 |
- |
- |
|
Decr. LT Loan from Fin. Inst. |
- |
- |
- |
0.0 |
-56.3 |
|
Decr. LT Loan from Other Party |
- |
- |
- |
0.0 |
-0.9 |
|
Returned Dividend |
- |
- |
0.0 |
0.0 |
0.0 |
|
Incr. Shr. Capital |
0.0 |
0.0 |
0.0 |
0.0 |
1.5 |
|
Dividend Paid |
-59.0 |
-40.0 |
-59.8 |
-47.3 |
-39.2 |
|
Cash from Financing Activities |
-64.5 |
-69.3 |
-48.7 |
-43.6 |
-52.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-11.3 |
-1.2 |
-0.9 |
-4.1 |
-20.0 |
|
Net Change in Cash |
-43.4 |
40.8 |
-1.5 |
69.6 |
3.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
332.6 |
266.0 |
275.2 |
198.5 |
188.5 |
|
Net Cash - Ending Balance |
290.2 |
307.4 |
273.7 |
268.1 |
191.8 |
|
Cash Interest Paid |
1.8 |
2.4 |
3.7 |
5.4 |
5.2 |
|
Cash Taxes Paid |
3.0 |
3.0 |
4.3 |
4.7 |
3.2 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual
Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
3 Months |
6 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Special |
Reclassified
Calculated |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.136505 |
30.401066 |
30.538187 |
29.992258 |
31.651263 |
|
|
|
|
|
|
|
|
Net Sales |
337.6 |
625.2 |
296.5 |
319.2 |
318.1 |
|
Revenue |
337.6 |
625.2 |
296.5 |
319.2 |
318.1 |
|
Total Revenue |
337.6 |
625.2 |
296.5 |
319.2 |
318.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
259.0 |
479.0 |
230.1 |
248.8 |
226.5 |
|
Cost of Revenue, Total |
259.0 |
479.0 |
230.1 |
248.8 |
226.5 |
|
Gross Profit |
78.6 |
146.2 |
66.4 |
70.4 |
91.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
36.6 |
68.7 |
32.7 |
31.6 |
33.1 |
|
Labor & Related Expense |
- |
- |
- |
2.3 |
- |
|
Total Selling/General/Administrative Expenses |
36.6 |
68.7 |
32.7 |
33.9 |
33.1 |
|
Research & Development |
17.1 |
34.2 |
15.1 |
16.8 |
13.4 |
|
Investment Income -
Operating |
-2.9 |
-3.8 |
-0.9 |
-1.2 |
-2.5 |
|
Interest/Investment Income - Operating |
-2.9 |
-3.8 |
-0.9 |
-1.2 |
-2.5 |
|
Interest Expense (Income) - Net Operating Total |
-2.9 |
-3.8 |
-0.9 |
-1.2 |
-2.5 |
|
Other Operating Expense |
3.8 |
1.8 |
1.3 |
2.2 |
3.1 |
|
Other, Net |
-2.2 |
-2.2 |
-0.8 |
-0.8 |
-1.8 |
|
Other Operating Expenses, Total |
1.6 |
-0.4 |
0.5 |
1.4 |
1.3 |
|
Total Operating Expense |
311.4 |
577.6 |
277.4 |
299.6 |
271.7 |
|
|
|
|
|
|
|
|
Operating Income |
26.2 |
47.6 |
19.1 |
19.6 |
46.3 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.8 |
-1.7 |
-0.8 |
-0.7 |
-0.6 |
|
Interest Expense, Net Non-Operating |
-0.8 |
-1.7 |
-0.8 |
-0.7 |
-0.6 |
|
Interest Income -
Non-Operating |
1.0 |
1.8 |
0.9 |
0.6 |
0.5 |
|
Interest/Investment Income - Non-Operating |
1.0 |
1.8 |
0.9 |
0.6 |
0.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.2 |
0.1 |
0.0 |
-0.1 |
-0.1 |
|
Income Before Tax |
26.4 |
47.7 |
19.1 |
19.5 |
46.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.4 |
-0.6 |
0.9 |
2.2 |
-5.4 |
|
Income After Tax |
25.0 |
48.3 |
18.2 |
17.3 |
51.7 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extraord Items |
25.0 |
48.3 |
18.2 |
17.3 |
51.6 |
|
Net Income |
25.0 |
48.3 |
18.2 |
17.3 |
51.6 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
25.0 |
48.3 |
18.2 |
17.3 |
51.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
25.0 |
48.3 |
18.2 |
17.3 |
51.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
|
Basic EPS Excl Extraord Items |
0.02 |
0.04 |
0.01 |
0.01 |
0.04 |
|
Basic/Primary EPS Incl Extraord Items |
0.02 |
0.04 |
0.01 |
0.01 |
0.04 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
- |
|
Diluted Net Income |
25.0 |
48.3 |
18.2 |
17.3 |
51.6 |
|
Diluted Weighted Average Shares |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
|
Diluted EPS Excl Extraord Items |
0.02 |
0.04 |
0.01 |
0.01 |
0.04 |
|
Diluted EPS Incl Extraord Items |
0.02 |
0.04 |
0.01 |
0.01 |
0.04 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.06 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
69.8 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.8 |
1.7 |
0.8 |
0.7 |
0.6 |
|
Depreciation, Supplemental |
6.3 |
- |
- |
6.6 |
- |
|
Normalized Income Before Tax |
26.4 |
47.7 |
19.1 |
19.5 |
46.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.4 |
-0.6 |
0.9 |
2.2 |
-5.4 |
|
Normalized Income After Tax |
25.0 |
48.3 |
18.2 |
17.3 |
51.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
25.0 |
48.3 |
18.2 |
17.3 |
51.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.02 |
0.04 |
0.01 |
0.01 |
0.04 |
|
Diluted Normalized EPS |
0.02 |
0.04 |
0.01 |
0.01 |
0.04 |
|
Amort of Intangibles, Supplemental |
0.7 |
- |
- |
0.4 |
- |
|
Research & Development Exp, Supplemental |
17.1 |
34.2 |
15.1 |
16.8 |
13.4 |
|
Normalized EBIT |
23.3 |
43.7 |
18.1 |
18.4 |
43.9 |
|
Normalized EBITDA |
30.3 |
43.7 |
18.1 |
25.4 |
43.9 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
30.145 |
33.34 |
34.78 |
33.685 |
36.15 |
|
Auditor |
Ernst &
Young Office Ltd |
Ernst &
Young Office Ltd |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
305.4 |
316.5 |
262.5 |
272.6 |
188.1 |
|
Short Term Investments |
0.0 |
5.4 |
1.5 |
2.4 |
2.5 |
|
Cash and Short Term Investments |
305.4 |
321.9 |
264.1 |
274.9 |
190.5 |
|
Accounts Receivable -
Trade, Gross |
207.0 |
166.2 |
174.2 |
205.5 |
229.7 |
|
Provision for Doubtful
Accounts |
-2.6 |
-1.7 |
-2.2 |
-1.4 |
-2.9 |
|
Trade Accounts Receivable - Net |
204.4 |
164.5 |
172.0 |
204.0 |
226.8 |
|
Other Receivables |
17.8 |
10.1 |
9.9 |
10.1 |
8.2 |
|
Total Receivables, Net |
222.2 |
174.6 |
181.9 |
214.2 |
235.1 |
|
Inventories - Finished Goods |
92.7 |
43.5 |
48.5 |
33.1 |
41.7 |
|
Inventories - Work In Progress |
15.9 |
11.2 |
11.9 |
12.5 |
11.4 |
|
Inventories - Raw Materials |
128.3 |
81.4 |
83.2 |
76.0 |
95.4 |
|
Inventories - Other |
-26.6 |
-21.3 |
-19.0 |
-16.1 |
-20.0 |
|
Total Inventory |
210.4 |
114.9 |
124.5 |
105.5 |
128.5 |
|
Prepaid Expenses |
11.6 |
10.3 |
9.3 |
7.4 |
5.3 |
|
Other Current Assets |
7.2 |
2.1 |
1.7 |
1.8 |
1.9 |
|
Other Current Assets, Total |
7.2 |
2.1 |
1.7 |
1.8 |
1.9 |
|
Total Current Assets |
756.8 |
623.7 |
581.4 |
603.8 |
561.3 |
|
|
|
|
|
|
|
|
Buildings |
78.1 |
65.6 |
62.4 |
55.1 |
34.1 |
|
Land/Improvements |
14.3 |
13.4 |
11.1 |
13.7 |
8.7 |
|
Machinery/Equipment |
217.8 |
186.5 |
176.8 |
172.8 |
167.3 |
|
Construction in
Progress |
1.1 |
0.6 |
0.8 |
0.5 |
8.3 |
|
Other
Property/Plant/Equipment |
78.1 |
67.6 |
64.3 |
60.9 |
65.1 |
|
Property/Plant/Equipment - Gross |
389.4 |
333.8 |
315.3 |
302.9 |
283.4 |
|
Accumulated Depreciation |
-248.1 |
-224.5 |
-204.1 |
-194.8 |
-183.8 |
|
Property/Plant/Equipment - Net |
141.3 |
109.3 |
111.3 |
108.2 |
99.6 |
|
Goodwill, Net |
10.2 |
9.2 |
8.8 |
9.1 |
9.2 |
|
Intangibles - Gross |
32.9 |
32.9 |
- |
- |
29.4 |
|
Accumulated Intangible Amortization |
-10.0 |
-8.3 |
- |
- |
- |
|
Intangibles, Net |
22.9 |
24.6 |
26.3 |
28.0 |
29.4 |
|
LT Investment - Affiliate Companies |
18.1 |
17.7 |
16.9 |
15.0 |
11.7 |
|
LT Investments - Other |
13.5 |
14.9 |
18.5 |
5.5 |
6.1 |
|
Long Term Investments |
31.6 |
32.6 |
35.4 |
20.5 |
17.7 |
|
Deferred Income Tax - Long Term Asset |
7.6 |
2.5 |
1.9 |
- |
- |
|
Restricted Cash - Long Term |
10.3 |
9.6 |
6.8 |
7.9 |
6.2 |
|
Other Long Term Assets |
1.5 |
0.9 |
1.0 |
2.0 |
1.2 |
|
Other Long Term Assets, Total |
19.4 |
12.9 |
9.7 |
9.9 |
7.4 |
|
Total Assets |
982.3 |
812.4 |
772.9 |
779.4 |
724.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
180.3 |
143.6 |
127.2 |
148.6 |
171.9 |
|
Accrued Expenses |
49.6 |
35.2 |
34.3 |
40.8 |
38.9 |
|
Notes Payable/Short Term Debt |
38.0 |
39.6 |
67.2 |
58.4 |
50.9 |
|
Customer Advances |
4.2 |
5.4 |
3.7 |
4.8 |
6.0 |
|
Income Taxes Payable |
6.6 |
5.8 |
5.3 |
6.1 |
1.2 |
|
Other Payables |
12.4 |
8.0 |
5.4 |
4.5 |
6.2 |
|
Other Current Liabilities |
13.5 |
8.9 |
9.2 |
9.4 |
12.2 |
|
Other Current liabilities, Total |
36.8 |
28.1 |
23.6 |
24.8 |
25.6 |
|
Total Current Liabilities |
304.6 |
246.5 |
252.3 |
272.6 |
287.3 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
38.0 |
39.6 |
67.2 |
58.4 |
50.9 |
|
|
|
|
|
|
|
|
Minority Interest |
2.9 |
1.8 |
1.8 |
1.6 |
1.5 |
|
Reserves |
36.2 |
35.9 |
35.9 |
35.3 |
33.1 |
|
Other Long Term Liabilities |
1.3 |
0.7 |
0.3 |
0.2 |
0.8 |
|
Other Liabilities, Total |
37.5 |
36.5 |
36.2 |
35.5 |
33.9 |
|
Total Liabilities |
345.0 |
284.8 |
290.3 |
309.8 |
322.8 |
|
|
|
|
|
|
|
|
Common Stock |
41.4 |
37.4 |
35.9 |
37.0 |
34.5 |
|
Common Stock |
41.4 |
37.4 |
35.9 |
37.0 |
34.5 |
|
Additional Paid-In Capital |
49.5 |
44.7 |
42.9 |
44.3 |
41.3 |
|
Retained Earnings (Accumulated Deficit) |
604.0 |
477.7 |
434.4 |
421.8 |
350.6 |
|
Unrealized Gain (Loss) |
0.0 |
3.2 |
-0.6 |
-0.1 |
0.1 |
|
Translation Adjustment |
-57.6 |
-35.5 |
-30.0 |
-33.3 |
-24.5 |
|
Other Equity, Total |
-57.6 |
-35.5 |
-30.0 |
-33.3 |
-24.5 |
|
Total Equity |
637.3 |
527.5 |
482.6 |
469.7 |
401.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
982.3 |
812.4 |
772.9 |
779.4 |
724.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,246.1 |
|
Total Common Shares Outstanding |
1,247.4 |
1,247.4 |
1,247.4 |
1,247.4 |
1,246.1 |
|
Employees |
12,817 |
- |
- |
11,677 |
12,585 |
|
Accumulated Intangible Amort, Suppl. |
10.0 |
8.3 |
- |
- |
- |
|
Deferred Revenue - Current |
4.2 |
5.4 |
3.7 |
4.8 |
6.0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.40 |
|
UK Pound |
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.70.44 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.