MIRA INFORM REPORT
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Report Date : |
22.08.2012 |
IDENTIFICATION DETAILS
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Name : |
IRPC PUBLIC COMPANY LIMITED |
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Registered Office : |
299 Moo 5, Sukhumvit Road, Sukhumwit Road, Choengnoen, Muangrayong, Amphoe Mueng, Rayong, 21000 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.08.1978 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in petrochemical and petroleum industries |
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No. of Employees : |
5,327 employees |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Thailand |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
IRPC Public Company Limited
299 Moo 5, Sukhumvit Road
Sukhumwit Road, Choengnoen, Muangrayong
Amphoe Mueng
Rayong, 21000
Thailand
Tel: 66-38-611333
Fax: 66-38-613571
Web: www.irpc.co.th
Synthesis
Employees: 5,327
Company Type: Public
Parent
Corporate Family: 6
Companies
Traded: Stock
Exchange of Thailand (Bangkok): IRPC
Incorporation Date: 03-Aug-1978
Auditor: PricewaterhouseCoopers
ABAS Limited
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Thai
Baht
Annual Sales: 8,098.7 1
Net Income: 134.7
Total Assets: 4,189.4 2
Market Value: 2,467.1
(10-Aug-2012)
Business Description
IRPC Public Company Limited is a Thailand-based company engaged in the petrochemical and petroleum industries. It operates refinery and petrochemical complexes in Rayong province, with a total capacity of 215,000 barrels per day. The Company manufactures and distributes petrochemical products, including olefins, aromatics, plastic resins and polyester and polyether polyol, and petroleum products, including refined oil, lube base oil, asphalt and other by-products. It also operates asset management business as well as deep-sea port to support petrochemical business and power plants. Its subsidiaries include Thai ABS Company Limited, which is engaged in the manufacture and sale of styrene; IRPC Oil Company Limited, which is engaged in the distribution of petroleum products; IRCP Polyol Company Limited, which is engaged in the manufacture and sale of polyester and polyether polyol, and IRPC Technology Company Limited, which operates the industrial technology institution. For the six months ended 30 June 2012, IRPC Public Company Limited revenues increased 17% to BAH150.18B. Net loss totaled BAH3.12B vs. income of BAH6.11B. Revenues reflect Petroleum Product segment increase of 19% to BAH122.44B, Petrochemical Product segment increase of 10% to BAH43.68B. Net loss reflects Finance costs increase of 38% to BAH902M (expense), Other expenses increase from BAH0K to BAH196.2M (expense).
Industry
Industry Oil and Gas Operations
ANZSIC 2006: 1701 - Petroleum
Refining and Petroleum Fuel Manufacturing
NACE 2002: 2320 - Manufacture
of refined petroleum products
NAICS 2002: 32411 - Petroleum
Refineries
UK SIC 2003: 2320 - Manufacture
of refined petroleum products
US SIC 1987: 2911 - Petroleum
Refining
Key Executives
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Name |
Title |
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Sahatchai Phanitchaphong |
Acting Chief Executive Officer, Vice President of Petrochemical &
Refinery Business |
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Phailin Chuchotthaworn |
President, Director |
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Duangkamon Settanung |
Senior Executive Vice President of Corporate Accounting and Finance |
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Monwipha Chuphibarn |
Company Secretary |
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Wichai Pornkeratiwat |
Executive Director |
Significant
Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Officer Changes |
1 |
IRPC PCL Announces Appointment and Resignation of CEO |
19-Oct-2011 |
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Strategic Combinations |
1 |
IRPC PCL Announces Strategic Investment in UBE Chemicals (Asia) PCL |
6-Jul-2012 |
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Equity Investments |
1 |
PTT Public Company Limited Plans to Acquire Shares of IRPC PCL from
Government Savings Bank |
16-Jan-2012 |
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Dividends |
2 |
IRPC Public Company Limited Announces H2 2011 Dividend Payment |
14-Feb-2012 |
* number of significant developments within the last 12 months
News
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Title |
Date |
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BoI approves 16 projects |
2-Aug-2012 |
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PTT eyes Europe for acquisitions |
7-Jul-2012 |
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Refinery blaze just a blip |
5-Jul-2012 |
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Thais urge US lithium-ion maker to set up
local plant |
19-Jun-2012 |
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IRPC to develop ecological industrial
estate project |
5-Jun-2012 |
Financial
Summary
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Stock
Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = THB 30.48471
2 - Balance Sheet Item Exchange Rate: USD 1 = THB 31.55
Corporate Overview
Location
299 Moo 5, Sukhumvit Road
Sukhumwit Road, Choengnoen, Muangrayong
Amphoe Mueng
Rayong, 21000
Thailand
Tel: 66-38-611333
Fax: 66-38-613571
Web: www.irpc.co.th
Quote Symbol - Exchange
IRPC - Stock
Exchange of Thailand (Bangkok)
Sales THB(mil): 246,887.8
Assets THB(mil): 132,176.4
Employees: 5,327
Fiscal Year End: 31-Dec-2011
Industry: Oil
and Gas Operations
Incorporation Date: 03-Aug-1978
Company Type: Public
Parent
Quoted Status: Quoted
Chief Executive Officer,
Secretary of the Board,
Director: Athikhom
Toebsiri
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Executives
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1701 - Petroleum Refining and Petroleum Fuel Manufacturing
1821 - Synthetic Resin and Synthetic Rubber Manufacturing
1812 - Basic Organic Chemical Manufacturing
NACE 2002 Codes:
2416 - Manufacture of plastics in primary forms
2320 - Manufacture of refined petroleum products
2414 - Manufacture of other organic basic chemicals
NAICS 2002 Codes:
325199 - All Other Basic Organic Chemical Manufacturing
325211 - Plastics Material and Resin Manufacturing
32411 - Petroleum Refineries
US SIC 1987:
2869 - Industrial Organic Chemicals, Not Elsewhere Classified
2911 - Petroleum Refining
2821 - Plastics Materials, Synthetic Resins, and Nonvulcanizable
Elastomers
UK SIC 2003:
2416 - Manufacture of plastics in primary forms
2414 - Manufacture of other organic basic chemicals
2320 - Manufacture of refined petroleum products
Business
Description
IRPC Public Company Limited is a Thailand-based company engaged in the petrochemical and petroleum industries. It operates refinery and petrochemical complexes in Rayong province, with a total capacity of 215,000 barrels per day. The Company manufactures and distributes petrochemical products, including olefins, aromatics, plastic resins and polyester and polyether polyol, and petroleum products, including refined oil, lube base oil, asphalt and other by-products. It also operates asset management business as well as deep-sea port to support petrochemical business and power plants. Its subsidiaries include Thai ABS Company Limited, which is engaged in the manufacture and sale of styrene; IRPC Oil Company Limited, which is engaged in the distribution of petroleum products; IRCP Polyol Company Limited, which is engaged in the manufacture and sale of polyester and polyether polyol, and IRPC Technology Company Limited, which operates the industrial technology institution. For the six months ended 30 June 2012, IRPC Public Company Limited revenues increased 17% to BAH150.18B. Net loss totaled BAH3.12B vs. income of BAH6.11B. Revenues reflect Petroleum Product segment increase of 19% to BAH122.44B, Petrochemical Product segment increase of 10% to BAH43.68B. Net loss reflects Finance costs increase of 38% to BAH902M (expense), Other expenses increase from BAH0K to BAH196.2M (expense).
More Business
Descriptions
Production and sale of petrol, oil, lubricants and petrochemicals; operation of ISO 9001 and ISO 14001 certified
Petrochemical & Petroleum Refiner & Mfr
IRPC Public Company Limited (IRPC) is a petrochemical and petroleum products manufacturer. The company produces vaious kinds of refined oil, including diesel and gasoline, lube base oil and asphalt. IRPC also produces by-products, aromatics and solvents as well as polymers such as high density polyethylene, polyethylene and polypropylene. The company has three product lines, namely, Petroleum Products, Petrochemical Products, and Others. The company's Petroleum Products include refined products such as gasoline, high speed diesel, fuel oil, kerosene and liquefied petroleum gas (LPG). The other petroleum products are long residue, naphtha, lube base oil and asphalt. The asphalt produced is used for construction of roads. The company operates its petroleum business through its subsidiaries IRPC Oil Co., Ltd. and IRPC Plc. Naphtha which is part of the refining product can be used as raw materials for olefins and aromatic products. These in turn become the raw materials for downstream petrochemical products and sell to plastic converters. In 2010, 75% of the revenues were generated from this segment.The company also invented and developed lube base oil group innovation called Treated Distillate Aromatic Extract (TDAE) and Residue Aromatic Extract (RAE), rubber oil with minimum carcinogenic substance that is used for producing car tires.The Petrochemical Products segment of the company produces petrochemical products which include olefins, aromatics, plastic resins and polyol. Olefins is an upstream petrochemical product which includes ethylene, propylene and butadiene. The products are widely used as raw material for plastic resin. Aromatics, also an upstream petrochemical product, consist of benzene, toluene and xylene, mostly used for producing intermediate petrochemical products. Plastic resin is a downstream product, which is a raw material for the production of various types of finished plastic products. Polyols, consisting of polyester and polyether polyols, are used as raw materials for manufacturing polyurethane, which is then processed to become such products as foam used for furniture and for heat transfer insulation in the construction industry. The company operates this segment through its subsidiaries include, namely, IRPC Plc., Thai ABS Co., Ltd, and IRPC Polyol Co., Ltd. In 2010, 24% of the revenues were generated from this segment.The company's downstream products consist of high density polyethylene (HDPE), polypropylene (PP), acrylonitrile butadiene styrene (ABS)/acrylonitrile styrene (SAN), polystyrene (PS), and expandable polystyrene (EPS). The company's Other businesses include electricity sale, port and other utilities service fees. The Other business segment is operated by IRPC Plc. The revenues from this segment accounted for less than 1% of the total revenues. IPRC’s port is located in the province of Rayong, and is engaged in the provision of dock services including tug boats, piloting services, lighters, fresh water and fuel, weigh scales, container yards, warehouses, and machines and equipment for transshipment of goods. There are two main port areas, namely Liquid & Chemical Terminal and Bulk & Container Terminal. Liquid & Chemical Terminal offers petrochemical, liquid petroleum and gas services. This port is 1,623 meters long, and is divided into 8 sub wharfs. Bulk & Container Terminal offers services of bulk shipment and container goods. This port is 900 meters long, 48 meters wide, and is divided into 8 sub wharfs. IRPC’s Rayong port is an industrial petrochemical and commercial harbor owned and managed by the company.In 2010, the company planned to launch its property business in two green industrial estates, the Wan Chan industrial estate and the Ban Khai, in Rayong. It has a combined area of 6000 rai.In March 2011, IRPC proposed an investment of $200m to increase the annual production capacity of polypropylene by 1,00,000 tonnes. The expansion is part of IRPC's five year plan worth $ 2.1 billion to upgrade capacity for a new product called ultra-high-mollecular weight polythene.In April 2011, IRPC’s board of directors passed the resolution on the approval to jointly invest in PTT Energy Solutions Company Limited (PTTES) with PTT Group companies.
IRPC Public Company Limited (IRPC) is an integrated
petrochemical product manufacturing company. Its complex comprises of an
upstream, an oil refinery unit and a downstream petrochemical production. The company
is engaged in the production of petrochemical and petroleum products. IRPC is
also involved in the power, utility, port and asset management business. IRPC's
production complex is located in an industrial estate managed by the company in
Rayong, Thailand. The estate provides the necessary infrastructure that
supports production including a deep-sea port, oil storage tanks and a power
plant. IRPC has a refinery with a total production capacity of 215,000 barrels
of crude oil per day. The company is headquartered in Rayong, Thailand.The
company reported revenues of (Baht) THB 246,887.84 million during the fiscal
year ended December 2011, an increase of 11.41% over 2010. The operating profit
of the company was THB 5,992.84 million during the fiscal year 2011, a decrease
of 11.44% from 2010. The net profit of the company was THB 4,106.77 million
during the fiscal year 2011, a decrease of 32.68% from 2010.
Petrochemical Manufacturing
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Strategic Initiatives
Partnerships
These projects include the Rayong River Conservation Project, Combined Heat and Power Project, KlongKonPuekN Natural Mangrove Forest Observation Center Project, Community Center Project, the Student Scholarship Project, and the Archaeological Site Restoration Project. Involvement in these projects reflects our determination to conserve the environment and to promote the welfare of society and the communities in which we operate. The board of directors truly recognizes that collaboration and participation by management and staff at all levels in IRPC’s initiatives has significantly contributed to our achievements. Our personnel have put the best of their efforts and energy into making IRPC of today better than it was yesterday. On behalf of the board of directors, we would like to express our appreciation to all stakeholders, who have consistently collaborated with and supported IRPC’s projects and initiatives.
This stream is processed through an Alkyfining unit (purification step), a Polynaphtha unit (oligomerization step) and then the oligomers are recycled to the catalytic cracking step. The unconverted C4 from the Polynaphtha unit is a paraffin rich cut suitable for steam cracking unit or LPG pool. This project will definitely reinforce IRPC's position on petrochemical market.Mar 14, 2012IRPC Announces Strategic Cooperation With Samsung Engineering To Send Experts To Help Run UAE RefineryIRPC Public Company Limited (IRPC) signed a collaboration agreement to send a team of expert engineers to commissioning and start-up Samsung Engineering's project in UAE. IRPC chairman and chairman of the executive committee Prasert Bunsumpun also presented at the ceremony held on March 13, 2012.In agreeing to the strategic cooperation with IRPC, Samsung recognises IRPC's potential as a company with high competency in terms of manufacturing and maintenance in the petrochemical and refinery industries and having skilful staff with long experience.
Product
IRPC’s business plans and strategies have been developed to sustain a
positive businessmomentum in changing circumstances, focusing on areas such as
production-efficiency improvements, as well as environmentally-friendly product
research and development. Additionally, to streamline work processes and reduce
operating costs, we have deployed state-of-the-art technologies. Consequently,
IRPC’s efficient operating strategy and outstanding operating results have
secured it a leading position in its sector, bringing its vision of being “the
top quartile integrated petrochemical complex in Asia by 2014” one step
closer. Dedicate Resources to be the Innovation Leader Determined to be one of
the leading players in the petrochemical sector, IRPC continues to invest in
resource management, as well as capacity and product extension for innovation,
and so has achieved the most effective economic resource management, the
highest commercial value and the strongest competitiveness, as seen in IRPC’s
Propylene Booster Project, ABS Production Expansion, and Green product
research. In 2010, IRPC was successful in the research and development of a
variety of products.
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities |
Threats |
Overview
IRPC Public Company Limited (IRPC) is principally engaged in manufacturing petrochemical and petroleum products such as plastic resins, refinery products, lube base oil and other petrochemical products. IRPC offers a wide range of petroleum and petrochemical products. The company carries out business operations along with its subsidiaries across Thailand. IRPC would substantially benefit from the various expansion activities it undertook in the financial year. However, the economic crisis in Thailand poses a threat to its business, besides increasing alternative fuel usage in its markets.
Strengths
High Liquidity
Position
During the year 2010, the company experienced a significant increase in liquidity ratios form the previous year .In this year the current ratio was 2.73 significantly increased from 2.43 from 2009. Current ratio indicates the ability by the company to pay off its current liability by selling current assets. Current ratio more than one means the company has more current assets compared to current liability,and it might be able to pay off its short term obligations by encasing its current assets during the current financial year. On the other hand as the current liability is less as compared to current assets ,the working capital will be positive ,which means the company might not face lack of short term money to run their day to day business activities , which eliminates the liquidity risk for it . Besides that the quick ratio of the company was 1.06 in the year 2010 as compared to 0.89 in 2009.The cash ratio during the same period was 0.34 , raised from 0.30 in 2009. These all improving liquidity ratios indicate that the company's short term liquidity position is healthy in the current financial year.
Diversified Business
Operations
The company’s operations cover the full range of petroleum and petrochemical supply chain from crude oil refining, refined oil products, and upstream petrochemical products. Through its petrochemical business, IRPC provides a wide range of petrochemical products including polene, porene, pentfoam, hicon black and polyol. IRPC also offers wide spectrum of plastic resin products including high density polyethylene (HDPE), polypropylene, acrylonitrile-butadiene-styrene (ABS), acrylonitrile styrene, polystyrene and expandable polystyrene. The company offers petroleum products including gasoline, diesel and LPG, besides petroleum-based fuels mixed with alternative fuel sources Its petroleum-based fuels are of 4 types and 16 varieties, with all products meeting certified production standards. IRPC’s port offers an array of facilities and dock services for clients, composed container yards, warehouses, tug-boats, lighters, fresh water and fuel, piloting services, weigh scales, and machines and equipment for transshipment of goods.
Strong Infrastructure
The company has operational presence across oil refining, and petroleum and petrochemical production. The company’s oil refinery operates at its total capacity of 215,000 barrels per day. IRPC operated production complex is located in an industrial estate in Rayong, Thailand. IRPC’s port is located in the same area as its refinery. The company's Liquid and Chemical Terminal offers services for petrochemicals, liquid petroleum, and gas. The port is 1,623 meters long, and is divided into 8 sub-wharfs. With a channel depth of 6-19 meters, it can handle vessels of 1,000-250,000 deadweight tonnage (DWT). Its Bulk and Container Terminal provides services related to bulk shipments and container goods. This port is 900 meters long, 48 meters wide, and is divided into 8 sub-wharfs. With a channel depth of 5-17 meters, it can handle vessels 800-150,000 DWT. The company accounted for approximately 18% of the country’s total refining capacity and is ranked the third largest refinery in Thailand.
Weaknesses
Declining Operating
Margin
During the financial year 2010, the company witnessed a declining profitability ratio from the previous year. The gross profit margin in the year 2010, was 3.04, decreased from 4.27 from the previous year. This decline happened mainly because of redaction of gross profit from THB 10015.61million to THB 9345.36million from the year 2009, though the company reported an increase of net revenue of 33% from 2009.The operating margin of the company was 3.1, significantly decreased from 3.90 from the year 2009. The huge fall in net revenue of the company during the period pull down the operating profit margin .The net profit margin of the company also decrease from 3.26 in 2009 to 2.70 in 2010.These all strong profitability ratios of the company show that its internal management is able to follow the good cost cutting techniques to increase the profit of the business.
Dependent Over
Government Decision
As of the fiscal year-end 2009, the company’s major shareholders were PTT Public Company Limited (36.15%), Government Savings Bank (9.69%), GPF Strategic Investment Fund(5.88%), Vayupak Fund(7.08%). The government companies hold approximately 40% of IRPC’s shares, which influence the company’s policies and lead the company’s operations according to the national economic and social policies. The government’s decisions on the company’s operations may adversely affect the interests of company or those of else its shareholders.
Opportunities
Entry Into
Overseas Markets
Currently, the company carries petroleum and petrochemical products
business operations in Thailand. PTT Plc. is a major shareholder of IRPC
(holding approximately 36.15%). PTT is a key player in the manufacture and
distribution of natural gas, petroleum and petrochemical products in Thailand and
also has strong presence in overseas markets. PTT is also engaged in exporting
oil products to Laos and Myanmar and operates service stations in Laos, the
Philippines and Cambodia. PTT also has aviation fuelling stations at Hong
Kong’s Chek Lap Kok airport and Phnom Penh international airport in Cambodia.
IRPC has great opportunity to utilize PTT’s overseas market presence to enter
the overseas markets.
Petrochemicals
Demand In China
The demand for refined petroleum products and petrochemicals is estimated
to rapidly increase in China in the future. In China, the refining capacity is
expected to increase and touch 14.6 million barrels per day in 2030. Further,
the demand for polyethylene, ethylene and propylene is estimated to rise at an
annual rate of 7%, 12% and 9% during 2005 and 2010, respectively. Growing
demand for petroleum and petrochemicals gives IRPC an opportunity to expand its
businesses in the Chinese markets.
Growth
Opportunities In Asia-Pacific
The Asia-Pacific region could offer strong growth opportunities to the
company, enabling it to leverage its strong brand and product portfolio. The
global economy is in the recovery mode. The matured economies continue to
record slow growth rate and the global petrochemical industry is looking towards
emerging markets, mainly Asia-Pacific, to make use of the new capacity and
production, and avoid oversupply. The Asia-Pacific region has emerged as a
major consumer of petrochemicals, accounting for a share of around 54% in 2010,
according to in-house research. China alone accounts for nearly 30% of the
world’s petrochemical demand. India, with its huge population base and
increasing per capita income, has significant demand potential. Economic
growth, combined with high and young population and low per capita consumption,
in these regions could lead to increased demand in the future. As the company
is operating its business in Thailand,it could get the benefit by the growth of
petrochemical products demand in Asia-Pacific. By further expansion of its
business activities in other countries in Asia the company could increase the
market share in the photochemical industry.
Threats
Increase In
Alternative Fuel Usage
The company’s revenue, profitability, and rate of growth are substantially dependent upon prices for crude oil . In recent years increase in the demand of crude oil and depletion in the oil reserves have resulted in the increase in the prices of crude oil and oil products across the world. For many years, oil prices and markets have been extremely volatile. Prices are affected by numerous factors such as market supply and demand, international military, political, and economic conditions, and the ability of the Organization of Petroleum Exporting Countries (OPEC) to set and maintain production and price targets. The average oil and liquids price increased 1% to $58.56 per bbl for the year ended December 31, 2010 from $58.18 per bbl for the same period in 2009.The average oil and liquids price decreased 5% to $59.46 per bbl for the fourth quarter 2010 from $62.79 per bbl for the same period in 2009. Any such volatility in oil prices would adversely affect the company's results of operations, financial condition, and future growth rate.
Increase in
Alternative Fuel
The decrease in gasoline and diesel demand was driven by consumers switching to alternative fuels such as LPG and compressed natural gas (CNG). The consumption of LPG and CNG for transportation purposes increased. In addition, the Electricity Generating Authority of Thailand reduced its fuel oil usage. Gasohol consumption was also on the rise due to its lower price over gasoline as a government policy to lower gasohol’s rate of contribution to oil funds. Furthermore, high-speed diesel consumption decreased due to its rising price as well as government policy to promote alternative energy by enforcing B2, the blended high-speed diesel with 2% of bio-diesel volume. LPG consumption in vehicles is also expected to increase at a lower rate after the government decided to float LPG pric.
Intense competition
The petrochemical product manufacturing companies are highly competitive. The company encounters strong competition from other independent companies and major petrochemical producing companies which are mainly in the upstream as well as downstream segment. The competitions come in all aspects of its business, including production of petrochemical and petroleum products like,Butadiene, Propolene ,Naphtha ,Ethylene ,Aromatic products ,Butane ,Polypropylene, Polystyrene and many more , generating of power, refinery of crude oil and many others.Some of the company's competitors are Thai Oil Public Company Limited , PTT Aromatics and Refining PCL , Rayong Purifier Public Company Limited , Thai Lube Base Public Company Limited, The Bangchak Petroleum Public Company Limited. Some of these competitors have financial and technical resources and staffs substantially larger than the company. As a result competitors may be able to pay more for desirable leases, or to evaluate, bid for and purchase a greater number of properties or prospects than the company’s financial or personnel resources permit. Inability to compete successfully may hamper the financial performance of the company.
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Corporate
Family |
Corporate Structure
News: |
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IRPC Public
Company Limited |
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IRPC Public Company Limited |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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IRPC Public Company Limited |
Parent |
Rayong |
Thailand |
Oil and Gas Operations |
8,098.7 |
5,327 |
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IRPC Oil Co., Ltd. |
Subsidiary |
Bangkok |
Thailand |
Oil and Gas Operations |
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33 |
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Thai ABS Co., Ltd |
Subsidiary |
Bangkok |
Thailand |
Chemicals - Plastics and Rubber |
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IRPC A&L Co., Ltd. |
Subsidiary |
Bangkok |
Thailand |
Chemicals - Plastics and Rubber |
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IRPC Oil Co Ltd |
Subsidiary |
Amphoe Muang, Rayong |
Thailand |
Oil and Gas Operations |
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Thai ABS Co Ltd |
Subsidiary |
Muang, Rayong |
Thailand |
Chemicals - Plastics and Rubber |
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Competitors Report
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Company Name |
Location |
Employees |
Ownership |
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Exxon Mobil Corporation |
Irving, Texas, United States |
82,100 |
Public |
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Rayong Purifier PCL |
Chatuchak, Bangkok, Thailand |
932 |
Public |
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Thai Oil Public Company Limited |
Bangkok, Thailand |
816 |
Public |
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The Bangchak Petroleum Public Co. Ltd. |
Bangkok, Thailand |
935 |
Public |
Executive report
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||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Executive Director, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Executive Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director, Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Board Member |
Director/Board Member |
|
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Executive Director, Director, Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
President & Company Secretary |
Director/Board Member |
|
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||||||
|
Chief Executive Officer, Secretary of the Board, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Board Member |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Executives |
|
|
|
|
|||||||||
|
Executive Director |
Chief Executive Officer |
|
|||||||||
|
Acting Chief Executive Officer, Vice President of Petrochemical &
Refinery Business |
Chief Executive Officer |
|
|||||||||
|
Executive Director |
Chief Executive Officer |
|
|||||||||
|
Co-Executive Director |
Chief Executive Officer |
|
|||||||||
|
Chief Executive Officer, Secretary of the Board, Director |
Chief Executive Officer |
|
|||||||||
|
||||||||||||
|
President, Director |
President |
|
|
||||||||
|
||||||||||||
|
President & Company Secretary |
President |
|
|
||||||||
|
Executive VP-Operations |
Operations Executive |
|
|
||||||||
|
Senior Vice President-Operation 1 |
Operations Executive |
|
|
||||||||
|
Executive Vice President, Corporate Affairs |
Administration Executive |
|
|
||||||||
|
Senior Executive Vice President, Corporate Human Resources and
Administration |
Administration Executive |
|
|
||||||||
|
Chief Administration Officer & Chief Planning Officer |
Administration Executive |
|
|
||||||||
|
Senior Executive Vice President, Corporate Accounting and Finance |
Administration Executive |
|
|
||||||||
|
Company Secretary |
Company Secretary |
|
|
||||||||
|
||||||||||||
|
Senior Vice President-Finance & Chief Financial Officer |
Finance Executive |
|
|
||||||||
|
Senior Executive Vice President of Corporate Accounting and Finance |
Finance Executive |
|
|
||||||||
|
||||||||||||
|
Senior VP-Corporate Finance |
Finance Executive |
|
|
||||||||
|
Executive Vice President Corporate Accounting |
Accounting Executive |
|
|
||||||||
|
Vice President, Corporate Internal Audit |
Accounting Executive |
|
|
||||||||
|
Senior Vice President-Commercial & Marketing |
Marketing Executive |
|
|
||||||||
|
Senior Executive VP-Cmml & Marketing |
Marketing Executive |
|
|
||||||||
|
Vice President, Research and Development |
Research & Development Executive |
|
|
||||||||
|
Executive VP-Corporate Planning |
Planning Executive |
|
|
||||||||
|
Vice President, Corporate Legal |
Legal Executive |
|
|
||||||||
|
Executive VP-Admin & Procurement |
Other |
|
|
||||||||
|
Senior Vice President |
Other |
|
|
||||||||
Significant Developments
IRPC PCL Announces Strategic Investment in UBE Chemicals (Asia) PCL Jul 06, 2012
IRPC PCL announced the strategic investment a 25% stake in UBE Chemicals (Asia) PCL (UCA), a subsidiary of UBE Industries, Ltd. (UBE). The Company has signed the Share Subscription and Purchase Agreement and on July 6, 2012, the Company has made the payment for the subscription of the new shares and the acquisition of the existing shares in UCA for the total consideration of approximately THB 5,300 million to UCA and UBE respectively. In this regard, the Company has accepted the transfer of 268,481,257 shares in UCA, comprising of 193,481,257 new shares plus 75,000,000 existing shares from UBE.
IRPC Public Company Limited Announces H2 2011 Dividend Payment Feb 14, 2012
IRPC Public Company Limited announced it will pay a dividend for the second half of fiscal year 2011 of THB 0.04 per share, on May 4, 2012, to shareholders of record on February 29, 2012. The Company paid a dividend of THB 0.10 per share for the second half of fiscal year 2012.
PTT Public Company Limited Plans to Acquire Shares of IRPC PCL from Government Savings Bank Jan 16, 2012
PTT Public Company Limited announced that it has consulted with the executives of Government Savings Bank (GSB) to acquire a 9.54% stake or 1.95 billion shares in IRPC PCL from GSB. The Company has conferred with GSB for the share acquisition in the middle of last year. However, the action is still under the processes of studying feasibility and appraising propriety to purchase the shares.
IRPC PCL Announces Appointment and Resignation of CEO Oct 19, 2011
IRPC PCL announced that it has appointed Mr. Atikom Terbsiri to be Chief Executive Officer and Director in replacement of Mr. Chitrapongse Kwangsukstith effective on October 19, 2011.
IRPC PCL to pay H1 FY 2011 Dividend; Appoint New Acting Chief Executive Officer Sep 02, 2011
IRPC Public Company Limited announced that it is to pay dividends for the first half of fiscal year 2011 of THB 0.08 per share. The payment will be made on September 30, 2011, to shareholders of record on September 16, 2011. It paid dividends of THB 0.08 per share for the same period the year previous. The Company also announced it has appointed Mr. Sahatchai Phanitchaphong as an Acting Chief Executive Officer, effective from September 10, 2011.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
Revenue |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
Total Revenue |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
7,724.9 |
6,692.6 |
4,544.5 |
7,725.0 |
6,189.9 |
|
Cost of Revenue, Total |
7,724.9 |
6,692.6 |
4,544.5 |
7,725.0 |
6,189.9 |
|
Gross Profit |
373.9 |
292.9 |
291.7 |
-391.8 |
452.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
153.0 |
139.1 |
106.0 |
134.1 |
142.9 |
|
Labor & Related Expense |
- |
- |
2.7 |
5.7 |
1.9 |
|
Total Selling/General/Administrative Expenses |
153.0 |
139.1 |
108.7 |
139.8 |
144.8 |
|
Interest Income -
Operating |
- |
- |
- |
-4.9 |
-19.6 |
|
Investment Income -
Operating |
-1.7 |
-0.9 |
-0.5 |
-4.8 |
-104.3 |
|
Interest/Investment Income - Operating |
-1.7 |
-0.9 |
-0.5 |
-9.7 |
-124.0 |
|
Interest Expense (Income) - Net Operating Total |
-1.7 |
-0.9 |
-0.5 |
-9.7 |
-124.0 |
|
Impairment-Assets Held for Use |
- |
- |
- |
0.0 |
- |
|
Impairment-Assets Held for Sale |
- |
- |
- |
-1.6 |
- |
|
Unusual Expense (Income) |
- |
- |
- |
-1.6 |
- |
|
Other, Net |
26.0 |
-58.5 |
-4.8 |
-16.4 |
-1.3 |
|
Other Operating Expenses, Total |
26.0 |
-58.5 |
-4.8 |
-16.4 |
-1.3 |
|
Total Operating Expense |
7,902.2 |
6,772.2 |
4,647.9 |
7,837.1 |
6,209.5 |
|
|
|
|
|
|
|
|
Operating Income |
196.6 |
213.3 |
188.4 |
-503.9 |
433.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-58.7 |
-16.8 |
-28.9 |
-41.8 |
-32.3 |
|
Interest Expense, Net Non-Operating |
-58.7 |
-16.8 |
-28.9 |
-41.8 |
-32.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
-58.7 |
-16.8 |
-28.9 |
-41.8 |
-32.3 |
|
Income Before Tax |
137.9 |
196.5 |
159.5 |
-545.7 |
400.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
2.8 |
4.1 |
1.5 |
1.2 |
0.9 |
|
Income After Tax |
135.1 |
192.4 |
158.0 |
-546.9 |
399.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.4 |
-0.1 |
-0.3 |
-0.3 |
-0.4 |
|
Net Income Before Extraord Items |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
20,369.0 |
20,040.0 |
19,737.0 |
19,584.0 |
19,500.0 |
|
Basic EPS Excl Extraord Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Diluted Weighted Average Shares |
20,369.0 |
20,182.0 |
19,818.0 |
19,584.0 |
19,764.0 |
|
Diluted EPS Excl Extraord Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Gross Dividends - Common Stock |
120.3 |
113.7 |
91.9 |
94.6 |
125.1 |
|
Interest Expense, Supplemental |
58.7 |
16.8 |
28.9 |
41.8 |
32.3 |
|
Depreciation, Supplemental |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Total Special Items |
- |
- |
- |
-1.6 |
- |
|
Normalized Income Before Tax |
137.9 |
196.5 |
159.5 |
-547.3 |
400.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
- |
- |
-0.6 |
- |
|
Inc Tax Ex Impact of Sp Items |
2.8 |
4.1 |
1.5 |
0.7 |
0.9 |
|
Normalized Income After Tax |
135.1 |
192.4 |
158.0 |
-548.0 |
399.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
134.7 |
192.3 |
157.7 |
-548.3 |
399.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Diluted Normalized EPS |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Amort of Intangibles, Supplemental |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Rental Expenses |
6.0 |
5.0 |
3.5 |
3.8 |
3.6 |
|
Advertising Expense, Supplemental |
3.2 |
2.2 |
1.0 |
1.9 |
3.7 |
|
Normalized EBIT |
194.9 |
212.4 |
187.9 |
-515.1 |
309.1 |
|
Normalized EBITDA |
312.8 |
319.0 |
285.0 |
-418.5 |
399.0 |
|
Defined Contribution Expense - Domestic |
9.2 |
7.9 |
6.6 |
6.5 |
4.7 |
|
Total Pension Expense |
9.2 |
7.9 |
6.6 |
6.5 |
4.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.55 |
30.145 |
33.34 |
34.78 |
33.685 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.0 |
0.1 |
- |
- |
- |
|
Cash & Equivalents |
93.6 |
158.2 |
154.9 |
245.8 |
330.8 |
|
Short Term Investments |
32.9 |
46.7 |
23.1 |
12.6 |
45.4 |
|
Cash and Short Term Investments |
126.6 |
205.0 |
177.9 |
258.4 |
376.2 |
|
Accounts Receivable - Trade,
Gross |
324.0 |
375.8 |
248.1 |
180.4 |
402.2 |
|
Provision for Doubtful
Accounts |
-9.5 |
-9.1 |
-7.3 |
-6.8 |
-6.9 |
|
Trade Accounts Receivable - Net |
314.5 |
366.8 |
240.8 |
173.6 |
395.3 |
|
Notes Receivable - Short Term |
3.8 |
0.6 |
9.8 |
4.0 |
0.2 |
|
Other Receivables |
58.7 |
39.3 |
62.2 |
69.8 |
95.7 |
|
Total Receivables, Net |
377.1 |
406.7 |
312.9 |
247.4 |
491.1 |
|
Inventories - Finished Goods |
856.2 |
734.4 |
687.0 |
474.9 |
837.0 |
|
Inventories - Work In Progress |
0.6 |
5.4 |
3.4 |
3.2 |
8.5 |
|
Inventories - Raw Materials |
373.3 |
258.7 |
234.9 |
238.4 |
301.9 |
|
Inventories - Other |
- |
- |
-6.5 |
-149.2 |
-8.5 |
|
Total Inventory |
1,230.1 |
998.5 |
918.9 |
567.3 |
1,138.9 |
|
Prepaid Expenses |
2.4 |
10.7 |
14.3 |
2.1 |
5.7 |
|
Other Current Assets |
21.2 |
14.7 |
20.4 |
15.0 |
16.6 |
|
Other Current Assets, Total |
21.2 |
14.7 |
20.4 |
15.0 |
16.6 |
|
Total Current Assets |
1,757.4 |
1,635.7 |
1,444.4 |
1,090.3 |
2,028.5 |
|
|
|
|
|
|
|
|
Buildings |
750.3 |
758.4 |
686.6 |
653.2 |
636.8 |
|
Land/Improvements |
142.9 |
127.7 |
234.2 |
505.2 |
521.3 |
|
Machinery/Equipment |
2,489.6 |
2,281.1 |
2,046.6 |
1,913.6 |
2,014.8 |
|
Construction in
Progress |
285.6 |
388.1 |
197.2 |
148.6 |
18.0 |
|
Property/Plant/Equipment - Gross |
3,668.4 |
3,555.3 |
3,164.6 |
3,220.5 |
3,190.9 |
|
Accumulated Depreciation |
-1,447.2 |
-1,434.7 |
-1,236.6 |
-1,372.4 |
-1,341.1 |
|
Property/Plant/Equipment - Net |
2,221.1 |
2,120.6 |
1,928.0 |
1,848.1 |
1,849.8 |
|
Intangibles - Gross |
100.9 |
101.7 |
89.7 |
- |
- |
|
Accumulated Intangible Amortization |
-56.5 |
-53.1 |
-42.7 |
- |
- |
|
Intangibles, Net |
44.3 |
48.5 |
46.9 |
- |
- |
|
LT Investment - Affiliate Companies |
4.9 |
2.4 |
1.3 |
0.8 |
0.0 |
|
LT Investments - Other |
157.4 |
185.1 |
1.0 |
1.5 |
2.5 |
|
Long Term Investments |
162.3 |
187.6 |
2.4 |
2.3 |
2.5 |
|
Deferred Charges |
- |
- |
- |
12.3 |
3.8 |
|
Other Long Term Assets |
4.2 |
3.6 |
3.4 |
40.5 |
68.9 |
|
Other Long Term Assets, Total |
4.2 |
3.6 |
3.4 |
52.8 |
72.7 |
|
Total Assets |
4,189.4 |
3,996.0 |
3,425.1 |
2,993.4 |
3,953.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
571.1 |
241.1 |
270.8 |
128.5 |
507.5 |
|
Accrued Expenses |
45.1 |
47.2 |
36.9 |
26.4 |
43.5 |
|
Notes Payable/Short Term Debt |
42.5 |
199.0 |
165.0 |
237.2 |
1.0 |
|
Current Portion - Long Term Debt/Capital Leases |
64.8 |
0.8 |
0.8 |
0.8 |
0.6 |
|
Customer Advances |
29.0 |
26.2 |
24.1 |
22.7 |
28.5 |
|
Other Payables |
104.7 |
63.6 |
72.0 |
30.1 |
43.7 |
|
Other Current Liabilities |
18.9 |
22.7 |
21.7 |
25.0 |
21.6 |
|
Other Current liabilities, Total |
152.6 |
112.5 |
117.8 |
77.8 |
93.8 |
|
Total Current Liabilities |
876.1 |
600.6 |
591.2 |
470.7 |
646.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
873.5 |
886.3 |
674.8 |
530.4 |
549.2 |
|
Capital Lease Obligations |
0.5 |
2.0 |
2.6 |
2.5 |
3.3 |
|
Total Long Term Debt |
873.9 |
888.2 |
677.3 |
532.9 |
552.5 |
|
Total Debt |
981.2 |
1,088.1 |
843.1 |
770.9 |
554.1 |
|
|
|
|
|
|
|
|
Minority Interest |
1.7 |
1.5 |
1.4 |
1.4 |
1.4 |
|
Pension Benefits - Underfunded |
32.7 |
28.7 |
- |
- |
- |
|
Other Long Term Liabilities |
- |
- |
- |
0.4 |
0.4 |
|
Other Liabilities, Total |
32.7 |
28.7 |
- |
0.4 |
0.4 |
|
Total Liabilities |
1,784.4 |
1,518.9 |
1,270.0 |
1,005.3 |
1,200.8 |
|
|
|
|
|
|
|
|
Common Stock |
647.7 |
669.1 |
594.8 |
566.6 |
578.9 |
|
Common Stock |
647.7 |
669.1 |
594.8 |
566.6 |
578.9 |
|
Additional Paid-In Capital |
905.5 |
931.1 |
822.3 |
781.6 |
795.5 |
|
Retained Earnings (Accumulated Deficit) |
855.9 |
881.1 |
745.2 |
649.1 |
1,386.0 |
|
Other Equity |
-4.1 |
-4.3 |
-7.1 |
-9.1 |
-7.6 |
|
Other Equity, Total |
-4.1 |
-4.3 |
-7.1 |
-9.1 |
-7.6 |
|
Total Equity |
2,405.0 |
2,477.0 |
2,155.2 |
1,988.1 |
2,752.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,189.4 |
3,996.0 |
3,425.1 |
2,993.4 |
3,953.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
20,434.0 |
20,169.8 |
19,829.2 |
19,705.6 |
19,500.0 |
|
Total Common Shares Outstanding |
20,434.0 |
20,169.8 |
19,829.2 |
19,705.6 |
19,500.0 |
|
Treasury Shares - Common Stock Primary Issue |
- |
- |
- |
0.0 |
0.0 |
|
Employees |
5,327 |
5,033 |
- |
5,325 |
6,409 |
|
Accumulated Intangible Amort, Suppl. |
56.5 |
53.1 |
42.7 |
- |
- |
|
Deferred Revenue - Current |
29.0 |
26.2 |
24.1 |
22.7 |
28.5 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
0.8 |
- |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
0.8 |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
0.0 |
- |
|
Interest Costs |
-0.1 |
-0.2 |
- |
- |
- |
|
Total Capital Leases, Supplemental |
1.8 |
2.8 |
3.3 |
3.3 |
3.9 |
|
Capital Lease Payments Due in Year 1 |
1.5 |
1.0 |
0.8 |
0.8 |
0.6 |
|
Capital Lease Payments Due in Year 2 |
0.1 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Capital Lease Payments Due in Year 3 |
0.1 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Capital Lease Payments Due in Year 4 |
0.1 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Capital Lease Payments Due in Year 5 |
0.1 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Capital Lease Payments Due in 2-3 Years |
0.2 |
1.0 |
1.3 |
1.3 |
1.6 |
|
Capital Lease Payments Due in 4-5 Years |
0.2 |
1.0 |
1.3 |
1.3 |
1.6 |
|
Total Operating Leases, Supplemental |
0.4 |
0.5 |
1.1 |
1.0 |
1.7 |
|
Operating Lease Payments Due in Year 1 |
0.2 |
0.3 |
0.8 |
0.7 |
1.2 |
|
Operating Lease Payments Due in Year 2 |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 3 |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 4 |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 5 |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Pymts. Due in 2-3 Years |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Operating Lease Pymts. Due in 4-5 Years |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.2 |
0.2 |
0.2 |
0.0 |
0.0 |
|
Accrued Liabilities - Domestic |
-32.7 |
-28.7 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-32.7 |
-28.7 |
- |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Depreciation |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Depreciation/Depletion |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Amortization of Intangibles |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Amortization |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Unusual Items |
26.2 |
-25.9 |
8.6 |
29.3 |
-49.9 |
|
Equity in Net Earnings (Loss) |
-1.7 |
-0.9 |
-0.5 |
0.9 |
0.0 |
|
Other Non-Cash Items |
62.1 |
18.9 |
-116.9 |
183.0 |
7.3 |
|
Non-Cash Items |
86.7 |
-8.0 |
-108.7 |
213.2 |
-42.6 |
|
Accounts Receivable |
34.3 |
-92.3 |
-66.0 |
222.4 |
-199.4 |
|
Inventories |
-287.8 |
18.7 |
-172.7 |
411.5 |
-179.5 |
|
Prepaid Expenses |
8.1 |
4.9 |
-11.7 |
3.6 |
2.1 |
|
Other Assets |
-24.0 |
38.1 |
-1.5 |
28.0 |
-6.3 |
|
Accounts Payable |
346.8 |
-62.9 |
152.7 |
-390.7 |
251.4 |
|
Accrued Expenses |
0.2 |
6.0 |
10.6 |
-16.9 |
4.5 |
|
Other Liabilities |
5.7 |
-2.6 |
-5.2 |
4.3 |
9.2 |
|
Other Operating Cash Flow |
-0.7 |
-1.4 |
-0.8 |
-4.9 |
-10.9 |
|
Changes in Working Capital |
82.5 |
-91.6 |
-94.6 |
257.2 |
-128.9 |
|
Cash from Operating Activities |
421.8 |
199.4 |
51.6 |
19.7 |
317.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-257.8 |
-194.6 |
-89.8 |
-151.3 |
-27.7 |
|
Purchase/Acquisition of Intangibles |
-3.9 |
-2.4 |
-0.8 |
-9.7 |
-3.5 |
|
Capital Expenditures |
-261.7 |
-197.0 |
-90.6 |
-161.0 |
-31.2 |
|
Sale of Fixed Assets |
1.8 |
1.5 |
1.8 |
3.6 |
21.0 |
|
Investment, Net |
0.6 |
0.0 |
1.9 |
-3.7 |
242.2 |
|
Purchase of Investments |
-1.0 |
0.0 |
- |
-1.7 |
0.0 |
|
Other Investing Cash Flow |
5.1 |
3.6 |
3.5 |
27.4 |
-16.4 |
|
Other Investing Cash Flow Items, Total |
6.5 |
5.1 |
7.2 |
25.6 |
246.7 |
|
Cash from Investing Activities |
-255.2 |
-191.9 |
-83.4 |
-135.4 |
215.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-54.4 |
-42.7 |
-35.1 |
-39.8 |
-23.4 |
|
Financing Cash Flow Items |
-54.4 |
-42.7 |
-35.1 |
-39.8 |
-23.4 |
|
Cash Dividends Paid - Common |
-120.3 |
-113.5 |
-91.7 |
-175.3 |
-125.0 |
|
Total Cash Dividends Paid |
-120.3 |
-113.5 |
-91.7 |
-175.3 |
-125.0 |
|
Sale/Issuance of
Common |
20.4 |
34.2 |
10.4 |
17.7 |
0.0 |
|
Common Stock, Net |
20.4 |
34.2 |
10.4 |
17.7 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
20.4 |
34.2 |
10.4 |
17.7 |
0.0 |
|
Short Term Debt Issued |
0.1 |
15.8 |
- |
246.2 |
- |
|
Short Term Debt
Reduction |
-153.0 |
- |
-80.1 |
-0.3 |
-894.5 |
|
Short Term Debt, Net |
-152.9 |
15.8 |
-80.1 |
245.9 |
-894.5 |
|
Long Term Debt Issued |
81.1 |
86.3 |
139.6 |
0.0 |
543.7 |
|
Long Term Debt
Reduction |
- |
- |
-9.9 |
-10.5 |
0.0 |
|
Long Term Debt, Net |
81.1 |
86.3 |
129.7 |
-10.5 |
543.7 |
|
Issuance (Retirement) of Debt, Net |
-71.9 |
102.0 |
49.6 |
235.4 |
-350.8 |
|
Cash from Financing Activities |
-226.2 |
-19.9 |
-66.8 |
38.0 |
-499.2 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-59.5 |
-12.4 |
-98.7 |
-77.7 |
34.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
156.5 |
162.7 |
249.0 |
334.0 |
291.2 |
|
Net Cash - Ending Balance |
97.0 |
150.4 |
150.4 |
256.2 |
325.4 |
|
Cash Interest Paid |
53.2 |
42.1 |
40.1 |
41.1 |
22.9 |
|
Cash Taxes Paid |
4.8 |
1.0 |
1.2 |
3.9 |
2.9 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
Total Revenue |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
|
|
|
|
|
|
|
Other income |
26.0 |
-58.5 |
-4.8 |
-9.3 |
-1.3 |
|
Selling Expenses |
32.4 |
36.0 |
31.1 |
37.5 |
36.3 |
|
Administrative Expenses |
120.6 |
103.1 |
74.9 |
96.6 |
106.6 |
|
Directors' Renum. |
- |
- |
2.7 |
5.7 |
1.9 |
|
Cost of Sales |
7,724.9 |
6,692.6 |
4,544.5 |
7,725.0 |
6,189.9 |
|
Share of profit of investments in associ |
-1.7 |
-0.9 |
-0.5 |
0.9 |
0.0 |
|
Interest Income |
- |
- |
- |
-4.9 |
-19.6 |
|
Foreign Exchange |
- |
- |
- |
-12.3 |
-36.9 |
|
Realised G/L fr Crack Spread Swap |
- |
- |
- |
-17.0 |
- |
|
Unrealised G/L fr Crack Spread Swap |
- |
- |
- |
-3.1 |
- |
|
Dividend Received |
- |
- |
- |
-3.1 |
-1.9 |
|
Tax Refund from Custom Only |
- |
- |
- |
-11.3 |
- |
|
Impairment Loss of Fixed Assets |
- |
- |
- |
0.0 |
- |
|
Reversal of Impairment Loss of Invest |
- |
- |
- |
-1.6 |
- |
|
Losses on Disposal of Invest in Trdg Sec |
- |
- |
- |
4.2 |
- |
|
Sale and Revaluation of Investments |
- |
- |
- |
- |
-46.0 |
|
Sales of Property, Plant and Equipment |
- |
- |
- |
-2.8 |
-19.5 |
|
Unrealised G/L from Change in FV of Inv |
- |
- |
- |
32.6 |
- |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
7,902.2 |
6,772.2 |
4,647.9 |
7,837.1 |
6,209.5 |
|
|
|
|
|
|
|
|
Int. Exp./Base Rate |
-58.7 |
-16.8 |
-28.9 |
-41.8 |
-32.3 |
|
Net Income Before Taxes |
137.9 |
196.5 |
159.5 |
-545.7 |
400.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2.8 |
4.1 |
1.5 |
1.2 |
0.9 |
|
Net Income After Taxes |
135.1 |
192.4 |
158.0 |
-546.9 |
399.9 |
|
|
|
|
|
|
|
|
Minority Interests |
-0.4 |
-0.1 |
-0.3 |
-0.3 |
-0.4 |
|
Net Income Before Extra. Items |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
20,369.0 |
20,040.0 |
19,737.0 |
19,584.0 |
19,500.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Basic EPS Including ExtraOrdinary Item |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Diluted Weighted Average Shares |
20,369.0 |
20,182.0 |
19,818.0 |
19,584.0 |
19,764.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
DPS-Common Stock |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Gross Dividends - Common Stock |
120.3 |
113.7 |
91.9 |
94.6 |
125.1 |
|
Normalized Income Before Taxes |
137.9 |
196.5 |
159.5 |
-547.3 |
400.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.8 |
4.1 |
1.5 |
0.7 |
0.9 |
|
Normalized Income After Taxes |
135.1 |
192.4 |
158.0 |
-548.0 |
399.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
134.7 |
192.3 |
157.7 |
-548.3 |
399.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Diluted Normalized EPS |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Interest Expense |
58.7 |
16.8 |
28.9 |
41.8 |
32.3 |
|
Amort of Intangibles |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Depreciation |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Rental Expenses |
6.0 |
5.0 |
3.5 |
3.8 |
3.6 |
|
Advertising Expense |
3.2 |
2.2 |
1.0 |
1.9 |
3.7 |
|
Defined Contribution Expense - Domestic |
9.2 |
7.9 |
6.6 |
6.5 |
4.7 |
|
Total Pension Expense |
9.2 |
7.9 |
6.6 |
6.5 |
4.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.55 |
30.145 |
33.34 |
34.78 |
33.685 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.0 |
0.1 |
- |
- |
- |
|
Cash/Bank |
93.6 |
158.2 |
154.9 |
245.8 |
330.8 |
|
ST Investments |
32.9 |
46.7 |
23.1 |
12.6 |
45.4 |
|
Trade Rec./Rel. |
32.2 |
35.6 |
44.6 |
13.3 |
71.4 |
|
Trade Rec./Other |
291.8 |
340.2 |
203.4 |
167.1 |
330.9 |
|
Doubtful Acc. |
-9.5 |
-9.1 |
-7.3 |
-6.8 |
-6.9 |
|
ST Loans/Advance |
3.8 |
0.6 |
9.8 |
4.0 |
0.2 |
|
Raw Mat./Chem. |
280.2 |
173.5 |
142.6 |
129.0 |
219.1 |
|
Work-in-Progress |
0.6 |
5.4 |
3.4 |
3.2 |
8.5 |
|
Finished Goods |
634.6 |
561.4 |
452.4 |
453.7 |
556.9 |
|
Chemicals |
27.7 |
19.7 |
18.8 |
32.5 |
12.9 |
|
Spare Parts and Repair Materials |
65.4 |
65.5 |
73.5 |
76.8 |
69.9 |
|
Goods in Transit |
221.6 |
173.0 |
234.7 |
21.2 |
280.2 |
|
Provison |
- |
- |
-6.5 |
-149.2 |
-8.5 |
|
Other receivables |
10.0 |
5.7 |
9.0 |
19.5 |
15.8 |
|
Value Added Tax |
48.8 |
33.6 |
53.3 |
50.3 |
79.8 |
|
Prepaid Duty |
2.4 |
10.7 |
14.3 |
2.1 |
5.7 |
|
Other current assets |
21.2 |
14.7 |
20.4 |
15.0 |
16.6 |
|
Financial Adjustments |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Current Assets |
1,757.4 |
1,635.7 |
1,444.4 |
1,090.3 |
2,028.5 |
|
|
|
|
|
|
|
|
Inv./Related |
4.9 |
2.4 |
1.3 |
0.8 |
0.0 |
|
Inv./Others |
1.3 |
1.6 |
1.0 |
1.5 |
2.5 |
|
Loans to and interest rece. from rela. |
104.4 |
109.2 |
0.0 |
- |
- |
|
Investment property - net |
51.8 |
74.3 |
- |
- |
- |
|
Transactions with Former Company |
2.3 |
2.4 |
2.2 |
2.1 |
2.2 |
|
Land |
137.1 |
121.6 |
228.6 |
499.9 |
515.9 |
|
Land Improvement |
5.8 |
6.1 |
5.5 |
5.3 |
5.4 |
|
Building/Struct. |
750.3 |
758.4 |
686.6 |
653.2 |
636.8 |
|
Machinery/Pipes |
2,383.0 |
2,153.7 |
1,938.3 |
1,810.0 |
1,894.6 |
|
Tools/Factory |
61.4 |
72.0 |
61.8 |
58.3 |
77.5 |
|
Furniture/Fixt. |
21.0 |
27.3 |
21.4 |
19.3 |
16.5 |
|
Vehicles |
24.2 |
28.2 |
25.1 |
26.0 |
26.3 |
|
Construction |
285.6 |
388.1 |
197.2 |
148.6 |
18.0 |
|
Depreciation |
-1,429.0 |
-1,419.1 |
-1,194.5 |
-1,059.0 |
-1,017.0 |
|
Impairment Loss |
-18.2 |
-15.7 |
-42.1 |
-313.4 |
-324.1 |
|
Intangible, gross |
100.9 |
101.7 |
89.7 |
- |
- |
|
Amortisation of intangible |
-56.5 |
-53.1 |
-42.7 |
- |
- |
|
Other non-current assets - net |
1.9 |
1.2 |
1.3 |
1.2 |
24.5 |
|
Financial Adjustments |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Deferred Expense |
- |
- |
- |
12.3 |
3.8 |
|
Dredging Expense |
- |
- |
- |
37.2 |
42.2 |
|
Land Deposits |
- |
- |
- |
0.0 |
0.0 |
|
Total Assets |
4,189.4 |
3,996.0 |
3,425.1 |
2,993.4 |
3,953.6 |
|
|
|
|
|
|
|
|
Overdrafts/Loans |
42.5 |
199.0 |
165.0 |
237.2 |
1.0 |
|
Trade Acc./Rel. |
551.8 |
231.3 |
270.3 |
127.9 |
506.5 |
|
Current portion of long-term loans |
63.4 |
0.0 |
- |
- |
- |
|
Account Payable |
19.4 |
9.8 |
0.5 |
0.6 |
0.9 |
|
LT Liab./Debt |
1.4 |
0.8 |
0.8 |
0.8 |
0.6 |
|
Other payables |
104.7 |
63.6 |
72.0 |
30.1 |
43.7 |
|
Advanced Received fr Exer Warrants |
0.0 |
5.1 |
3.3 |
- |
- |
|
Accrued Interest |
9.6 |
10.2 |
9.2 |
9.7 |
9.6 |
|
Accrued bonus expenses |
35.5 |
37.0 |
27.7 |
16.7 |
34.0 |
|
Advance Receipts |
29.0 |
26.2 |
24.1 |
22.7 |
28.5 |
|
Other current liabilities |
18.9 |
17.6 |
18.4 |
25.0 |
21.6 |
|
Portion/LT Liab. |
- |
- |
- |
0.0 |
0.0 |
|
Total Current Liabilities |
876.1 |
600.6 |
591.2 |
470.7 |
646.5 |
|
|
|
|
|
|
|
|
Long Term Loan |
798.4 |
807.7 |
671.0 |
528.0 |
546.7 |
|
Financial Lease Liabilities |
0.5 |
2.0 |
2.6 |
2.5 |
3.3 |
|
Loans from and interest payables to rel |
71.5 |
74.8 |
0.0 |
- |
- |
|
Transactions with Former Company |
3.6 |
3.8 |
3.8 |
2.4 |
2.5 |
|
Total Long Term Debt |
873.9 |
888.2 |
677.3 |
532.9 |
552.5 |
|
|
|
|
|
|
|
|
Employee benefit obligations |
32.7 |
28.7 |
- |
- |
- |
|
Minority Int. |
1.7 |
1.5 |
1.4 |
1.4 |
1.4 |
|
Other Liabs. |
- |
- |
- |
0.4 |
0.4 |
|
Total Liabilities |
1,784.4 |
1,518.9 |
1,270.0 |
1,005.3 |
1,200.8 |
|
|
|
|
|
|
|
|
Share Capital |
647.7 |
669.1 |
594.8 |
566.6 |
578.9 |
|
Share Premium |
905.0 |
930.7 |
822.3 |
781.6 |
795.5 |
|
Loss/Securities |
-0.1 |
0.1 |
-0.3 |
-2.6 |
-0.9 |
|
Statutory Res. |
64.9 |
67.9 |
61.4 |
58.9 |
60.8 |
|
Unappr. Deficit |
791.0 |
813.2 |
683.7 |
590.2 |
1,325.2 |
|
Own Shares Held |
-3.9 |
-4.5 |
-6.8 |
-6.5 |
-6.7 |
|
Premium on treasury stock |
0.5 |
0.4 |
0.0 |
- |
- |
|
Total Equity |
2,405.0 |
2,477.0 |
2,155.2 |
1,988.1 |
2,752.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,189.4 |
3,996.0 |
3,425.1 |
2,993.4 |
3,953.6 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
20,434.0 |
20,169.8 |
19,829.2 |
19,705.6 |
19,500.0 |
|
Total Common Shares Outstanding |
20,434.0 |
20,169.8 |
19,829.2 |
19,705.6 |
19,500.0 |
|
T/S-Common Stock |
- |
- |
- |
0.0 |
0.0 |
|
Amort of Intangible |
56.5 |
53.1 |
42.7 |
- |
- |
|
Deferred Revenue |
29.0 |
26.2 |
24.1 |
22.7 |
28.5 |
|
Full-Time Employees |
5,327 |
5,033 |
- |
5,325 |
6,409 |
|
Current maturities |
- |
- |
- |
0.8 |
- |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
0.8 |
- |
|
Capital Lease due within 1 Year |
1.5 |
1.0 |
0.8 |
0.8 |
0.6 |
|
Capital Lease due in 1-5 Year |
0.4 |
2.0 |
2.5 |
2.5 |
3.3 |
|
Interest Costs |
-0.1 |
-0.2 |
- |
- |
- |
|
Total Capital Leases |
1.8 |
2.8 |
3.3 |
3.3 |
3.9 |
|
Operating Lease within 1 Year |
0.2 |
0.3 |
0.8 |
0.7 |
1.2 |
|
Operating Lease over 1-5 Years |
0.0 |
0.0 |
0.1 |
0.3 |
0.5 |
|
Operating Lease over 5 Years |
0.2 |
0.2 |
0.2 |
- |
- |
|
Total Operating Leases |
0.4 |
0.5 |
1.1 |
1.0 |
1.7 |
|
Accrued Liabilities - Domestic |
-32.7 |
-28.7 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-32.7 |
-28.7 |
- |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Depreciation |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Amortisation |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Interest Income |
-4.3 |
-2.2 |
-1.9 |
-4.9 |
-19.7 |
|
Dividends income |
-1.6 |
-1.2 |
-1.2 |
-3.2 |
-1.9 |
|
Bad Debt Allowance |
1.1 |
1.0 |
0.0 |
0.7 |
-0.8 |
|
Allowance for Declining in Inventories |
2.1 |
-1.9 |
-144.9 |
146.9 |
4.3 |
|
Unrealised Exchange |
-2.5 |
-0.5 |
0.5 |
-0.1 |
-7.0 |
|
Unrealised G/L from Financial Instrument |
-2.0 |
-3.9 |
9.9 |
-3.1 |
- |
|
Sales of Investments |
11.5 |
-20.1 |
-8.7 |
36.8 |
-44.9 |
|
Sale of Assets |
13.4 |
1.0 |
0.2 |
-2.9 |
-19.5 |
|
Impairment Allowance for Land Deposit |
3.4 |
-2.9 |
7.3 |
-0.3 |
-0.5 |
|
Share of profit of investments in associ |
-1.7 |
-0.9 |
-0.5 |
0.9 |
0.0 |
|
Minority Interest |
0.4 |
0.1 |
0.3 |
0.3 |
0.4 |
|
Income Tax Expense |
2.8 |
4.1 |
1.5 |
1.2 |
0.9 |
|
Employee benefit expenses |
5.5 |
2.6 |
- |
- |
- |
|
Finance costs |
58.7 |
16.8 |
28.9 |
41.8 |
32.3 |
|
Trade Rec./Related |
39.2 |
-95.9 |
-58.0 |
217.9 |
-196.0 |
|
Inventories |
-287.8 |
18.7 |
-172.7 |
411.5 |
-179.5 |
|
Other Receivables |
-4.9 |
3.6 |
-8.1 |
4.5 |
-3.4 |
|
Amounts due from related parties |
-3.4 |
9.8 |
-5.6 |
- |
- |
|
Prepaid Taxes |
-17.2 |
24.0 |
-0.8 |
28.2 |
-9.3 |
|
Prepaid Duty |
8.1 |
4.9 |
-11.7 |
3.6 |
2.1 |
|
Other Current Assets |
-3.4 |
4.3 |
4.9 |
-0.2 |
3.0 |
|
Trade Pay./Related |
342.1 |
-64.3 |
132.2 |
-377.9 |
273.1 |
|
Other Payables |
-5.8 |
-7.3 |
22.3 |
-12.7 |
-21.7 |
|
Amounts due to related parties |
10.4 |
8.8 |
-1.8 |
- |
- |
|
Accrued Bonus |
0.2 |
6.0 |
10.6 |
-16.9 |
4.5 |
|
Advance for Goods |
4.2 |
-0.5 |
0.5 |
-5.1 |
-8.5 |
|
Other Current Liab. |
5.7 |
-2.6 |
-5.2 |
4.3 |
9.2 |
|
Withholding Tax Refund |
1.2 |
2.7 |
1.5 |
4.1 |
0.4 |
|
Income Tax Paid |
-6.0 |
-3.6 |
-2.7 |
-3.9 |
-2.9 |
|
Unrealised Gain on Swap Contracts |
- |
- |
- |
- |
-1.2 |
|
Unrealised Exc. for Repaym. under Plan |
- |
- |
- |
- |
0.0 |
|
Debenture Repurchase |
- |
- |
- |
- |
0.0 |
|
Impairment |
- |
- |
- |
-1.3 |
15.0 |
|
Cash from Operating Activities |
421.8 |
199.4 |
51.6 |
19.7 |
317.9 |
|
|
|
|
|
|
|
|
ST< loans and int. rece. from rela. |
0.3 |
0.0 |
- |
- |
- |
|
Interest Received |
4.0 |
2.2 |
2.1 |
4.8 |
16.6 |
|
Dividend Received |
1.6 |
1.2 |
1.2 |
3.2 |
1.9 |
|
ST Invesments |
0.6 |
0.0 |
0.7 |
-3.8 |
181.8 |
|
Investments/Loans |
- |
- |
1.2 |
0.1 |
60.3 |
|
Capital Expenditures |
-257.8 |
-194.6 |
-89.8 |
-151.3 |
-27.7 |
|
Sale/Tangibles |
1.8 |
1.5 |
1.8 |
3.6 |
21.0 |
|
Intangibles |
-3.9 |
-2.4 |
-0.8 |
-9.7 |
-3.5 |
|
Other Assets |
-0.8 |
0.2 |
0.2 |
23.4 |
-22.7 |
|
ST Loans/Advances |
- |
- |
- |
-4.0 |
-12.2 |
|
Purchases of investment in an associate |
-1.0 |
0.0 |
- |
-1.7 |
0.0 |
|
Cash from Investing Activities |
-255.2 |
-191.9 |
-83.4 |
-135.4 |
215.5 |
|
|
|
|
|
|
|
|
Interest paid net of interest rate swap |
-53.2 |
-42.1 |
-40.1 |
-41.1 |
-22.9 |
|
Dividend Paid |
-120.3 |
-113.5 |
-91.7 |
-175.3 |
-125.0 |
|
ST Loan from related |
0.1 |
0.0 |
- |
- |
- |
|
Sales of Swap Contracts |
-0.3 |
-0.8 |
3.3 |
2.3 |
0.0 |
|
Overdrafts/Loans |
- |
15.8 |
- |
246.2 |
- |
|
Decr. in Overdrafts/Loans |
-153.0 |
- |
-80.1 |
- |
-870.1 |
|
LT Loans fr Financial Institution |
81.1 |
86.3 |
139.6 |
0.0 |
- |
|
Repayment of Debentures |
- |
- |
-9.9 |
-10.5 |
0.0 |
|
Financial Lease Payments |
-0.8 |
-0.9 |
-0.8 |
-0.6 |
-0.4 |
|
Other Non-Current Liabilities |
- |
- |
-0.4 |
0.0 |
- |
|
Share Capital |
20.4 |
34.2 |
10.4 |
17.7 |
0.0 |
|
Net Cash Received in Advance fr Exer War |
0.0 |
1.4 |
3.2 |
0.0 |
- |
|
Minority Interest |
-0.1 |
-0.2 |
-0.3 |
-0.3 |
-0.1 |
|
ST Loans/Advances |
- |
- |
- |
-0.3 |
-24.3 |
|
Increase Rehab Plan |
- |
- |
- |
- |
0.0 |
|
Insurance of Debentures |
- |
- |
- |
- |
543.7 |
|
Cash from Financing Activities |
-226.2 |
-19.9 |
-66.8 |
38.0 |
-499.2 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-59.5 |
-12.4 |
-98.7 |
-77.7 |
34.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
156.5 |
162.7 |
249.0 |
334.0 |
291.2 |
|
Net Cash - Ending Balance |
97.0 |
150.4 |
150.4 |
256.2 |
325.4 |
|
Cash Interest Paid |
53.2 |
42.1 |
40.1 |
41.1 |
22.9 |
|
Cash Taxes Paid |
4.8 |
1.0 |
1.2 |
3.9 |
2.9 |
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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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
Revenue |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
Total Revenue |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
7,724.9 |
6,692.6 |
4,544.5 |
7,725.0 |
6,189.9 |
|
Cost of Revenue, Total |
7,724.9 |
6,692.6 |
4,544.5 |
7,725.0 |
6,189.9 |
|
Gross Profit |
373.9 |
292.9 |
291.7 |
-391.8 |
452.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
153.0 |
139.1 |
106.0 |
134.1 |
142.9 |
|
Labor & Related Expense |
- |
- |
2.7 |
5.7 |
1.9 |
|
Total Selling/General/Administrative Expenses |
153.0 |
139.1 |
108.7 |
139.8 |
144.8 |
|
Interest Income - Operating |
- |
- |
- |
-4.9 |
-19.6 |
|
Investment Income -
Operating |
-1.7 |
-0.9 |
-0.5 |
-4.8 |
-104.3 |
|
Interest/Investment Income - Operating |
-1.7 |
-0.9 |
-0.5 |
-9.7 |
-124.0 |
|
Interest Expense (Income) - Net Operating Total |
-1.7 |
-0.9 |
-0.5 |
-9.7 |
-124.0 |
|
Impairment-Assets Held for Use |
- |
- |
- |
0.0 |
- |
|
Impairment-Assets Held for Sale |
- |
- |
- |
-1.6 |
- |
|
Unusual Expense (Income) |
- |
- |
- |
-1.6 |
- |
|
Other, Net |
26.0 |
-58.5 |
-4.8 |
-16.4 |
-1.3 |
|
Other Operating Expenses, Total |
26.0 |
-58.5 |
-4.8 |
-16.4 |
-1.3 |
|
Total Operating Expense |
7,902.2 |
6,772.2 |
4,647.9 |
7,837.1 |
6,209.5 |
|
|
|
|
|
|
|
|
Operating Income |
196.6 |
213.3 |
188.4 |
-503.9 |
433.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-58.7 |
-16.8 |
-28.9 |
-41.8 |
-32.3 |
|
Interest Expense, Net Non-Operating |
-58.7 |
-16.8 |
-28.9 |
-41.8 |
-32.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
-58.7 |
-16.8 |
-28.9 |
-41.8 |
-32.3 |
|
Income Before Tax |
137.9 |
196.5 |
159.5 |
-545.7 |
400.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
2.8 |
4.1 |
1.5 |
1.2 |
0.9 |
|
Income After Tax |
135.1 |
192.4 |
158.0 |
-546.9 |
399.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.4 |
-0.1 |
-0.3 |
-0.3 |
-0.4 |
|
Net Income Before Extraord Items |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
20,369.0 |
20,040.0 |
19,737.0 |
19,584.0 |
19,500.0 |
|
Basic EPS Excl Extraord Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Diluted Weighted Average Shares |
20,369.0 |
20,182.0 |
19,818.0 |
19,584.0 |
19,764.0 |
|
Diluted EPS Excl Extraord Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Gross Dividends - Common Stock |
120.3 |
113.7 |
91.9 |
94.6 |
125.1 |
|
Interest Expense, Supplemental |
58.7 |
16.8 |
28.9 |
41.8 |
32.3 |
|
Depreciation, Supplemental |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Total Special Items |
- |
- |
- |
-1.6 |
- |
|
Normalized Income Before Tax |
137.9 |
196.5 |
159.5 |
-547.3 |
400.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
- |
- |
-0.6 |
- |
|
Inc Tax Ex Impact of Sp Items |
2.8 |
4.1 |
1.5 |
0.7 |
0.9 |
|
Normalized Income After Tax |
135.1 |
192.4 |
158.0 |
-548.0 |
399.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
134.7 |
192.3 |
157.7 |
-548.3 |
399.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Diluted Normalized EPS |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Amort of Intangibles, Supplemental |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Rental Expenses |
6.0 |
5.0 |
3.5 |
3.8 |
3.6 |
|
Advertising Expense, Supplemental |
3.2 |
2.2 |
1.0 |
1.9 |
3.7 |
|
Normalized EBIT |
194.9 |
212.4 |
187.9 |
-515.1 |
309.1 |
|
Normalized EBITDA |
312.8 |
319.0 |
285.0 |
-418.5 |
399.0 |
|
Defined Contribution Expense - Domestic |
9.2 |
7.9 |
6.6 |
6.5 |
4.7 |
|
Total Pension Expense |
9.2 |
7.9 |
6.6 |
6.5 |
4.7 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2012 |
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Calculated |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.268341 |
31.004083 |
31.002903 |
30.136505 |
30.267151 |
|
|
|
|
|
|
|
|
Net Sales |
2,388.9 |
2,434.5 |
1,654.8 |
2,241.0 |
2,234.6 |
|
Revenue |
2,388.9 |
2,434.5 |
1,654.8 |
2,241.0 |
2,234.6 |
|
Total Revenue |
2,388.9 |
2,434.5 |
1,654.8 |
2,241.0 |
2,234.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,481.8 |
2,347.3 |
1,628.6 |
2,203.0 |
2,113.3 |
|
Cost of Revenue, Total |
2,481.8 |
2,347.3 |
1,628.6 |
2,203.0 |
2,113.3 |
|
Gross Profit |
-92.9 |
87.2 |
26.1 |
38.0 |
121.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
37.0 |
34.9 |
46.1 |
38.7 |
36.4 |
|
Labor & Related Expense |
- |
- |
-2.3 |
0.5 |
- |
|
Total Selling/General/Administrative Expenses |
37.0 |
34.9 |
43.8 |
39.2 |
36.4 |
|
Interest Income -
Operating |
-1.5 |
-0.1 |
- |
- |
-1.9 |
|
Investment Income -
Operating |
-27.2 |
18.9 |
0.1 |
-0.6 |
-7.7 |
|
Interest/Investment Income - Operating |
-28.7 |
18.8 |
0.1 |
-0.6 |
-9.6 |
|
Interest Expense (Income) - Net Operating Total |
-28.7 |
18.8 |
0.1 |
-0.6 |
-9.6 |
|
Impairment-Assets Held for Use |
0.0 |
1.3 |
- |
- |
4.0 |
|
Loss (Gain) on Sale of Assets - Operating |
0.0 |
-1.4 |
- |
- |
0.0 |
|
Unusual Expense (Income) |
0.0 |
-0.1 |
- |
- |
4.1 |
|
Other, Net |
2.6 |
-3.5 |
36.7 |
-14.6 |
-2.7 |
|
Other Operating Expenses, Total |
2.6 |
-3.5 |
36.7 |
-14.6 |
-2.7 |
|
Total Operating Expense |
2,492.6 |
2,397.3 |
1,709.2 |
2,227.1 |
2,141.4 |
|
|
|
|
|
|
|
|
Operating Income |
-103.8 |
37.2 |
-54.5 |
13.9 |
93.2 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-15.0 |
-13.9 |
-16.6 |
-18.3 |
-11.5 |
|
Interest Expense, Net Non-Operating |
-15.0 |
-13.9 |
-16.6 |
-18.3 |
-11.5 |
|
Investment Income -
Non-Operating |
-10.0 |
8.7 |
- |
- |
-3.7 |
|
Interest/Investment Income - Non-Operating |
-10.0 |
8.7 |
- |
- |
-3.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
-25.1 |
-5.2 |
-16.6 |
-18.3 |
-15.1 |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
0.0 |
|
Other, Net |
0.0 |
0.0 |
- |
- |
0.0 |
|
Income Before Tax |
-128.8 |
32.0 |
-71.1 |
-4.4 |
78.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.9 |
1.3 |
-0.4 |
1.3 |
0.8 |
|
Income After Tax |
-129.7 |
30.6 |
-70.7 |
-5.7 |
77.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.2 |
-0.2 |
-0.1 |
-0.2 |
0.0 |
|
Net Income Before Extraord Items |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
Net Income |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
20,434.0 |
20,434.0 |
20,436.0 |
20,428.0 |
20,358.0 |
|
Basic EPS Excl Extraord Items |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
Diluted Weighted Average Shares |
20,434.0 |
20,434.0 |
20,436.0 |
20,428.0 |
20,402.0 |
|
Diluted EPS Excl Extraord Items |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Diluted EPS Incl Extraord Items |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
26.1 |
0.0 |
0.0 |
54.2 |
67.3 |
|
Interest Expense, Supplemental |
15.0 |
13.9 |
16.6 |
18.3 |
11.5 |
|
Depreciation, Supplemental |
33.0 |
32.8 |
28.9 |
30.1 |
- |
|
Total Special Items |
0.0 |
-0.1 |
- |
- |
4.1 |
|
Normalized Income Before Tax |
-128.9 |
31.8 |
-71.1 |
-4.4 |
82.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
- |
- |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
0.9 |
1.3 |
-0.4 |
1.3 |
0.9 |
|
Normalized Income After Tax |
-129.7 |
30.5 |
-70.7 |
-5.7 |
81.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-129.9 |
30.3 |
-70.8 |
-5.9 |
81.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Diluted Normalized EPS |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Amort of Intangibles, Supplemental |
1.6 |
1.5 |
1.5 |
1.5 |
- |
|
Normalized EBIT |
-132.5 |
55.8 |
-54.4 |
13.3 |
87.7 |
|
Normalized EBITDA |
-97.9 |
90.1 |
-23.9 |
44.9 |
87.7 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.55 |
30.145 |
33.34 |
34.78 |
33.685 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.0 |
0.1 |
- |
- |
- |
|
Cash & Equivalents |
93.6 |
158.2 |
154.9 |
245.8 |
330.8 |
|
Short Term Investments |
32.9 |
46.7 |
23.1 |
12.6 |
45.4 |
|
Cash and Short Term Investments |
126.6 |
205.0 |
177.9 |
258.4 |
376.2 |
|
Accounts Receivable -
Trade, Gross |
324.0 |
375.8 |
248.1 |
180.4 |
402.2 |
|
Provision for Doubtful
Accounts |
-9.5 |
-9.1 |
-7.3 |
-6.8 |
-6.9 |
|
Trade Accounts Receivable - Net |
314.5 |
366.8 |
240.8 |
173.6 |
395.3 |
|
Notes Receivable - Short Term |
3.8 |
0.6 |
9.8 |
4.0 |
0.2 |
|
Other Receivables |
58.7 |
39.3 |
62.2 |
69.8 |
95.7 |
|
Total Receivables, Net |
377.1 |
406.7 |
312.9 |
247.4 |
491.1 |
|
Inventories - Finished Goods |
856.2 |
734.4 |
687.0 |
474.9 |
837.0 |
|
Inventories - Work In Progress |
0.6 |
5.4 |
3.4 |
3.2 |
8.5 |
|
Inventories - Raw Materials |
373.3 |
258.7 |
234.9 |
238.4 |
301.9 |
|
Inventories - Other |
- |
- |
-6.5 |
-149.2 |
-8.5 |
|
Total Inventory |
1,230.1 |
998.5 |
918.9 |
567.3 |
1,138.9 |
|
Prepaid Expenses |
2.4 |
10.7 |
14.3 |
2.1 |
5.7 |
|
Other Current Assets |
21.2 |
14.7 |
20.4 |
15.0 |
16.6 |
|
Other Current Assets, Total |
21.2 |
14.7 |
20.4 |
15.0 |
16.6 |
|
Total Current Assets |
1,757.4 |
1,635.7 |
1,444.4 |
1,090.3 |
2,028.5 |
|
|
|
|
|
|
|
|
Buildings |
750.3 |
758.4 |
686.6 |
653.2 |
636.8 |
|
Land/Improvements |
142.9 |
127.7 |
234.2 |
505.2 |
521.3 |
|
Machinery/Equipment |
2,489.6 |
2,281.1 |
2,046.6 |
1,913.6 |
2,014.8 |
|
Construction in
Progress |
285.6 |
388.1 |
197.2 |
148.6 |
18.0 |
|
Property/Plant/Equipment - Gross |
3,668.4 |
3,555.3 |
3,164.6 |
3,220.5 |
3,190.9 |
|
Accumulated Depreciation |
-1,447.2 |
-1,434.7 |
-1,236.6 |
-1,372.4 |
-1,341.1 |
|
Property/Plant/Equipment - Net |
2,221.1 |
2,120.6 |
1,928.0 |
1,848.1 |
1,849.8 |
|
Intangibles - Gross |
100.9 |
101.7 |
89.7 |
- |
- |
|
Accumulated Intangible Amortization |
-56.5 |
-53.1 |
-42.7 |
- |
- |
|
Intangibles, Net |
44.3 |
48.5 |
46.9 |
- |
- |
|
LT Investment - Affiliate Companies |
4.9 |
2.4 |
1.3 |
0.8 |
0.0 |
|
LT Investments - Other |
157.4 |
185.1 |
1.0 |
1.5 |
2.5 |
|
Long Term Investments |
162.3 |
187.6 |
2.4 |
2.3 |
2.5 |
|
Deferred Charges |
- |
- |
- |
12.3 |
3.8 |
|
Other Long Term Assets |
4.2 |
3.6 |
3.4 |
40.5 |
68.9 |
|
Other Long Term Assets, Total |
4.2 |
3.6 |
3.4 |
52.8 |
72.7 |
|
Total Assets |
4,189.4 |
3,996.0 |
3,425.1 |
2,993.4 |
3,953.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
571.1 |
241.1 |
270.8 |
128.5 |
507.5 |
|
Accrued Expenses |
45.1 |
47.2 |
36.9 |
26.4 |
43.5 |
|
Notes Payable/Short Term Debt |
42.5 |
199.0 |
165.0 |
237.2 |
1.0 |
|
Current Portion - Long Term Debt/Capital Leases |
64.8 |
0.8 |
0.8 |
0.8 |
0.6 |
|
Customer Advances |
29.0 |
26.2 |
24.1 |
22.7 |
28.5 |
|
Other Payables |
104.7 |
63.6 |
72.0 |
30.1 |
43.7 |
|
Other Current Liabilities |
18.9 |
22.7 |
21.7 |
25.0 |
21.6 |
|
Other Current liabilities, Total |
152.6 |
112.5 |
117.8 |
77.8 |
93.8 |
|
Total Current Liabilities |
876.1 |
600.6 |
591.2 |
470.7 |
646.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
873.5 |
886.3 |
674.8 |
530.4 |
549.2 |
|
Capital Lease Obligations |
0.5 |
2.0 |
2.6 |
2.5 |
3.3 |
|
Total Long Term Debt |
873.9 |
888.2 |
677.3 |
532.9 |
552.5 |
|
Total Debt |
981.2 |
1,088.1 |
843.1 |
770.9 |
554.1 |
|
|
|
|
|
|
|
|
Minority Interest |
1.7 |
1.5 |
1.4 |
1.4 |
1.4 |
|
Pension Benefits - Underfunded |
32.7 |
28.7 |
- |
- |
- |
|
Other Long Term Liabilities |
- |
- |
- |
0.4 |
0.4 |
|
Other Liabilities, Total |
32.7 |
28.7 |
- |
0.4 |
0.4 |
|
Total Liabilities |
1,784.4 |
1,518.9 |
1,270.0 |
1,005.3 |
1,200.8 |
|
|
|
|
|
|
|
|
Common Stock |
647.7 |
669.1 |
594.8 |
566.6 |
578.9 |
|
Common Stock |
647.7 |
669.1 |
594.8 |
566.6 |
578.9 |
|
Additional Paid-In Capital |
905.5 |
931.1 |
822.3 |
781.6 |
795.5 |
|
Retained Earnings (Accumulated Deficit) |
855.9 |
881.1 |
745.2 |
649.1 |
1,386.0 |
|
Other Equity |
-4.1 |
-4.3 |
-7.1 |
-9.1 |
-7.6 |
|
Other Equity, Total |
-4.1 |
-4.3 |
-7.1 |
-9.1 |
-7.6 |
|
Total Equity |
2,405.0 |
2,477.0 |
2,155.2 |
1,988.1 |
2,752.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,189.4 |
3,996.0 |
3,425.1 |
2,993.4 |
3,953.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
20,434.0 |
20,169.8 |
19,829.2 |
19,705.6 |
19,500.0 |
|
Total Common Shares Outstanding |
20,434.0 |
20,169.8 |
19,829.2 |
19,705.6 |
19,500.0 |
|
Treasury Shares - Common Stock Primary Issue |
- |
- |
- |
0.0 |
0.0 |
|
Employees |
5,327 |
5,033 |
- |
5,325 |
6,409 |
|
Accumulated Intangible Amort, Suppl. |
56.5 |
53.1 |
42.7 |
- |
- |
|
Deferred Revenue - Current |
29.0 |
26.2 |
24.1 |
22.7 |
28.5 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
0.8 |
- |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
0.8 |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
0.0 |
- |
|
Interest Costs |
-0.1 |
-0.2 |
- |
- |
- |
|
Total Capital Leases, Supplemental |
1.8 |
2.8 |
3.3 |
3.3 |
3.9 |
|
Capital Lease Payments Due in Year 1 |
1.5 |
1.0 |
0.8 |
0.8 |
0.6 |
|
Capital Lease Payments Due in Year 2 |
0.1 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Capital Lease Payments Due in Year 3 |
0.1 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Capital Lease Payments Due in Year 4 |
0.1 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Capital Lease Payments Due in Year 5 |
0.1 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Capital Lease Payments Due in 2-3 Years |
0.2 |
1.0 |
1.3 |
1.3 |
1.6 |
|
Capital Lease Payments Due in 4-5 Years |
0.2 |
1.0 |
1.3 |
1.3 |
1.6 |
|
Total Operating Leases, Supplemental |
0.4 |
0.5 |
1.1 |
1.0 |
1.7 |
|
Operating Lease Payments Due in Year 1 |
0.2 |
0.3 |
0.8 |
0.7 |
1.2 |
|
Operating Lease Payments Due in Year 2 |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 3 |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 4 |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 5 |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Pymts. Due in 2-3 Years |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Operating Lease Pymts. Due in 4-5 Years |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.2 |
0.2 |
0.2 |
0.0 |
0.0 |
|
Accrued Liabilities - Domestic |
-32.7 |
-28.7 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-32.7 |
-28.7 |
- |
- |
- |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2012 |
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.913802 |
30.915001 |
31.55 |
31.085 |
30.725 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
114.9 |
107.0 |
93.7 |
93.5 |
163.3 |
|
Short Term Investments |
32.0 |
41.5 |
32.9 |
29.4 |
43.6 |
|
Cash and Short Term Investments |
146.8 |
148.5 |
126.6 |
122.9 |
207.0 |
|
Accounts Receivable -
Trade, Gross |
491.7 |
568.3 |
324.0 |
429.5 |
355.1 |
|
Provision for Doubtful
Accounts |
-9.9 |
-10.0 |
-9.5 |
-9.5 |
-9.4 |
|
Trade Accounts Receivable - Net |
481.8 |
558.3 |
314.5 |
420.0 |
345.7 |
|
Notes Receivable - Short Term |
4.7 |
0.4 |
3.8 |
1.6 |
1.0 |
|
Other Receivables |
77.4 |
71.6 |
61.2 |
63.8 |
51.5 |
|
Total Receivables, Net |
563.9 |
630.4 |
379.6 |
485.4 |
398.2 |
|
Total Inventory |
958.2 |
1,537.5 |
1,230.1 |
1,429.8 |
1,449.0 |
|
Prepaid Expenses |
- |
- |
- |
4.8 |
7.2 |
|
Other Current Assets |
18.5 |
20.7 |
19.3 |
34.6 |
22.2 |
|
Other Current Assets, Total |
18.5 |
20.7 |
19.3 |
34.6 |
22.2 |
|
Total Current Assets |
1,687.4 |
2,336.9 |
1,755.6 |
2,077.5 |
2,083.6 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
2,231.3 |
2,277.7 |
2,221.1 |
2,105.5 |
2,110.7 |
|
Intangibles, Net |
47.2 |
46.0 |
44.3 |
44.5 |
45.2 |
|
LT Investment - Affiliate Companies |
5.4 |
5.3 |
4.9 |
4.8 |
4.3 |
|
LT Investments - Other |
156.1 |
161.3 |
157.4 |
178.8 |
181.2 |
|
Long Term Investments |
161.6 |
166.6 |
162.3 |
183.6 |
185.5 |
|
Other Long Term Assets |
3.9 |
4.1 |
4.2 |
4.0 |
4.0 |
|
Other Long Term Assets, Total |
3.9 |
4.1 |
4.2 |
4.0 |
4.0 |
|
Total Assets |
4,131.4 |
4,831.3 |
4,187.6 |
4,415.1 |
4,429.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
491.3 |
811.5 |
571.1 |
560.0 |
650.5 |
|
Accrued Expenses |
14.8 |
12.9 |
45.1 |
31.3 |
24.0 |
|
Notes Payable/Short Term Debt |
163.9 |
244.4 |
42.5 |
317.5 |
157.6 |
|
Current Portion - Long Term Debt/Capital Leases |
63.2 |
66.1 |
64.8 |
25.5 |
25.8 |
|
Customer Advances |
21.8 |
31.0 |
29.0 |
24.2 |
31.0 |
|
Other Payables |
49.4 |
46.5 |
104.7 |
53.5 |
46.3 |
|
Other Current Liabilities |
14.7 |
19.8 |
17.4 |
14.1 |
17.8 |
|
Other Current liabilities, Total |
85.8 |
97.3 |
151.1 |
91.8 |
95.1 |
|
Total Current Liabilities |
819.0 |
1,232.2 |
874.6 |
1,026.2 |
953.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,022.7 |
1,078.1 |
873.5 |
843.1 |
849.7 |
|
Capital Lease Obligations |
0.2 |
0.2 |
0.5 |
0.8 |
0.9 |
|
Total Long Term Debt |
1,022.9 |
1,078.4 |
873.9 |
843.9 |
850.6 |
|
Total Debt |
1,250.0 |
1,388.9 |
981.2 |
1,186.9 |
1,034.1 |
|
|
|
|
|
|
|
|
Minority Interest |
1.6 |
1.9 |
1.7 |
1.6 |
1.5 |
|
Pension Benefits - Underfunded |
33.9 |
34.2 |
32.7 |
32.1 |
30.6 |
|
Other Liabilities, Total |
33.9 |
34.2 |
32.7 |
32.1 |
30.6 |
|
Total Liabilities |
1,877.4 |
2,346.6 |
1,782.9 |
1,903.8 |
1,835.8 |
|
|
|
|
|
|
|
|
Common Stock |
640.3 |
661.0 |
647.7 |
657.3 |
662.7 |
|
Common Stock |
640.3 |
661.0 |
647.7 |
657.3 |
662.7 |
|
Additional Paid-In Capital |
895.2 |
924.1 |
905.5 |
919.0 |
925.4 |
|
Retained Earnings (Accumulated Deficit) |
722.6 |
903.7 |
855.6 |
939.3 |
1,009.1 |
|
Other Equity |
-4.1 |
-4.1 |
-4.1 |
-4.2 |
-4.1 |
|
Other Equity, Total |
-4.1 |
-4.1 |
-4.1 |
-4.2 |
-4.1 |
|
Total Equity |
2,254.0 |
2,484.7 |
2,404.7 |
2,511.4 |
2,593.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,131.4 |
4,831.3 |
4,187.6 |
4,415.1 |
4,429.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
20,434.0 |
20,434.0 |
20,434.0 |
20,432.7 |
20,361.9 |
|
Total Common Shares Outstanding |
20,434.0 |
20,434.0 |
20,434.0 |
20,432.7 |
20,361.9 |
|
Employees |
- |
- |
5,327 |
- |
- |
|
Deferred Revenue - Current |
21.8 |
31.0 |
29.0 |
24.2 |
31.0 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
25.5 |
25.8 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
25.5 |
25.8 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
0.0 |
0.0 |
|
Total Operating Leases, Supplemental |
1.4 |
2.0 |
0.4 |
0.9 |
1.5 |
|
Operating Lease Payments Due in Year 1 |
1.2 |
1.7 |
0.2 |
0.7 |
1.2 |
|
Operating Lease Payments Due in Year 2 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Operating Lease Payments Due in Year 3 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Operating Lease Payments Due in Year 4 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Operating Lease Payments Due in Year 5 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Operating Lease Pymts. Due in 2-3 Years |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Accrued Liabilities - Domestic |
-33.9 |
-34.2 |
-32.7 |
-32.1 |
-30.6 |
|
Net Assets Recognized on Balance Sheet |
-33.9 |
-34.2 |
-32.7 |
-32.1 |
-30.6 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Depreciation |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Depreciation/Depletion |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Amortization of Intangibles |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Amortization |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Unusual Items |
26.2 |
-25.9 |
8.6 |
29.3 |
-49.9 |
|
Equity in Net Earnings (Loss) |
-1.7 |
-0.9 |
-0.5 |
0.9 |
0.0 |
|
Other Non-Cash Items |
62.1 |
18.9 |
-116.9 |
183.0 |
7.3 |
|
Non-Cash Items |
86.7 |
-8.0 |
-108.7 |
213.2 |
-42.6 |
|
Accounts Receivable |
34.3 |
-92.3 |
-66.0 |
222.4 |
-199.4 |
|
Inventories |
-287.8 |
18.7 |
-172.7 |
411.5 |
-179.5 |
|
Prepaid Expenses |
8.1 |
4.9 |
-11.7 |
3.6 |
2.1 |
|
Other Assets |
-24.0 |
38.1 |
-1.5 |
28.0 |
-6.3 |
|
Accounts Payable |
346.8 |
-62.9 |
152.7 |
-390.7 |
251.4 |
|
Accrued Expenses |
0.2 |
6.0 |
10.6 |
-16.9 |
4.5 |
|
Other Liabilities |
5.7 |
-2.6 |
-5.2 |
4.3 |
9.2 |
|
Other Operating Cash Flow |
-0.7 |
-1.4 |
-0.8 |
-4.9 |
-10.9 |
|
Changes in Working Capital |
82.5 |
-91.6 |
-94.6 |
257.2 |
-128.9 |
|
Cash from Operating Activities |
421.8 |
199.4 |
51.6 |
19.7 |
317.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-257.8 |
-194.6 |
-89.8 |
-151.3 |
-27.7 |
|
Purchase/Acquisition of Intangibles |
-3.9 |
-2.4 |
-0.8 |
-9.7 |
-3.5 |
|
Capital Expenditures |
-261.7 |
-197.0 |
-90.6 |
-161.0 |
-31.2 |
|
Sale of Fixed Assets |
1.8 |
1.5 |
1.8 |
3.6 |
21.0 |
|
Investment, Net |
0.6 |
0.0 |
1.9 |
-3.7 |
242.2 |
|
Purchase of Investments |
-1.0 |
0.0 |
- |
-1.7 |
0.0 |
|
Other Investing Cash Flow |
5.1 |
3.6 |
3.5 |
27.4 |
-16.4 |
|
Other Investing Cash Flow Items, Total |
6.5 |
5.1 |
7.2 |
25.6 |
246.7 |
|
Cash from Investing Activities |
-255.2 |
-191.9 |
-83.4 |
-135.4 |
215.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-54.4 |
-42.7 |
-35.1 |
-39.8 |
-23.4 |
|
Financing Cash Flow Items |
-54.4 |
-42.7 |
-35.1 |
-39.8 |
-23.4 |
|
Cash Dividends Paid - Common |
-120.3 |
-113.5 |
-91.7 |
-175.3 |
-125.0 |
|
Total Cash Dividends Paid |
-120.3 |
-113.5 |
-91.7 |
-175.3 |
-125.0 |
|
Sale/Issuance of
Common |
20.4 |
34.2 |
10.4 |
17.7 |
0.0 |
|
Common Stock, Net |
20.4 |
34.2 |
10.4 |
17.7 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
20.4 |
34.2 |
10.4 |
17.7 |
0.0 |
|
Short Term Debt Issued |
0.1 |
15.8 |
- |
246.2 |
- |
|
Short Term Debt
Reduction |
-153.0 |
- |
-80.1 |
-0.3 |
-894.5 |
|
Short Term Debt, Net |
-152.9 |
15.8 |
-80.1 |
245.9 |
-894.5 |
|
Long Term Debt Issued |
81.1 |
86.3 |
139.6 |
0.0 |
543.7 |
|
Long Term Debt
Reduction |
- |
- |
-9.9 |
-10.5 |
0.0 |
|
Long Term Debt, Net |
81.1 |
86.3 |
129.7 |
-10.5 |
543.7 |
|
Issuance (Retirement) of Debt, Net |
-71.9 |
102.0 |
49.6 |
235.4 |
-350.8 |
|
Cash from Financing Activities |
-226.2 |
-19.9 |
-66.8 |
38.0 |
-499.2 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-59.5 |
-12.4 |
-98.7 |
-77.7 |
34.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
156.5 |
162.7 |
249.0 |
334.0 |
291.2 |
|
Net Cash - Ending Balance |
97.0 |
150.4 |
150.4 |
256.2 |
325.4 |
|
Cash Interest Paid |
53.2 |
42.1 |
40.1 |
41.1 |
22.9 |
|
Cash Taxes Paid |
4.8 |
1.0 |
1.2 |
3.9 |
2.9 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2012 |
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.141583 |
31.004083 |
30.484713 |
30.310418 |
30.401066 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-97.5 |
30.4 |
134.7 |
207.9 |
203.0 |
|
Depreciation |
65.8 |
32.9 |
111.9 |
82.9 |
52.9 |
|
Depreciation/Depletion |
65.8 |
32.9 |
111.9 |
82.9 |
52.9 |
|
Amortization of Intangibles |
3.1 |
1.5 |
6.0 |
4.5 |
3.0 |
|
Amortization |
3.1 |
1.5 |
6.0 |
4.5 |
3.0 |
|
Unusual Items |
0.4 |
-8.0 |
26.2 |
-5.2 |
6.3 |
|
Equity in Net Earnings (Loss) |
-0.6 |
-0.3 |
-1.7 |
-1.8 |
-1.2 |
|
Other Non-Cash Items |
72.2 |
6.1 |
62.1 |
62.0 |
31.2 |
|
Non-Cash Items |
72.0 |
-2.2 |
86.7 |
55.0 |
36.3 |
|
Accounts Receivable |
-176.4 |
-229.9 |
34.3 |
-66.1 |
10.9 |
|
Inventories |
221.0 |
-280.4 |
-287.8 |
-489.7 |
-480.1 |
|
Prepaid Expenses |
-2.9 |
-2.6 |
8.1 |
5.7 |
3.4 |
|
Other Assets |
-13.4 |
-10.6 |
-24.0 |
-19.5 |
-8.1 |
|
Accounts Payable |
-85.4 |
213.1 |
346.8 |
307.9 |
395.8 |
|
Accrued Expenses |
-31.8 |
-33.9 |
0.2 |
-15.2 |
-22.3 |
|
Other Liabilities |
-2.6 |
2.9 |
5.7 |
2.0 |
-1.0 |
|
Other Operating Cash Flow |
-8.9 |
0.9 |
-0.7 |
-7.2 |
1.5 |
|
Changes in Working Capital |
-100.4 |
-340.7 |
82.5 |
-282.1 |
-99.9 |
|
Cash from Operating Activities |
-57.1 |
-278.0 |
421.8 |
68.3 |
195.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-148.9 |
-93.6 |
-257.8 |
-119.7 |
-78.9 |
|
Purchase/Acquisition of Intangibles |
-6.5 |
-2.2 |
-3.9 |
-1.8 |
0.0 |
|
Capital Expenditures |
-155.3 |
-95.8 |
-261.7 |
-121.6 |
-78.9 |
|
Sale of Fixed Assets |
4.3 |
4.3 |
1.8 |
0.8 |
0.7 |
|
Investment, Net |
- |
- |
0.6 |
0.7 |
- |
|
Purchase of Investments |
0.0 |
- |
-1.0 |
-0.7 |
-0.7 |
|
Sale of Intangible Assets |
0.0 |
- |
- |
- |
0.2 |
|
Other Investing Cash Flow |
3.1 |
0.2 |
5.1 |
3.2 |
1.6 |
|
Other Investing Cash Flow Items, Total |
7.4 |
4.5 |
6.5 |
3.9 |
1.9 |
|
Cash from Investing Activities |
-147.9 |
-91.3 |
-255.2 |
-117.7 |
-77.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-32.8 |
-14.9 |
-54.4 |
-43.9 |
-23.9 |
|
Financing Cash Flow Items |
-32.8 |
-14.9 |
-54.4 |
-43.9 |
-23.9 |
|
Cash Dividends Paid - Common |
-26.2 |
- |
-120.3 |
-120.9 |
-67.0 |
|
Total Cash Dividends Paid |
-26.2 |
- |
-120.3 |
-120.9 |
-67.0 |
|
Sale/Issuance of
Common |
0.0 |
0.0 |
20.4 |
25.4 |
18.6 |
|
Common Stock, Net |
0.0 |
0.0 |
20.4 |
25.4 |
18.6 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
20.4 |
25.4 |
18.6 |
|
Short Term Debt Issued |
125.2 |
200.8 |
0.1 |
127.3 |
- |
|
Short Term Debt
Reduction |
-32.1 |
- |
-153.0 |
- |
-37.8 |
|
Short Term Debt, Net |
93.1 |
200.8 |
-152.9 |
127.3 |
-37.8 |
|
Long Term Debt Issued |
193.9 |
194.7 |
81.1 |
- |
0.0 |
|
Long Term Debt, Net |
193.9 |
194.7 |
81.1 |
- |
0.0 |
|
Issuance (Retirement) of Debt, Net |
286.9 |
395.5 |
-71.9 |
127.3 |
-37.8 |
|
Cash from Financing Activities |
227.9 |
380.7 |
-226.2 |
-12.1 |
-110.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
22.8 |
11.3 |
-59.5 |
-61.5 |
8.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
94.9 |
95.3 |
156.5 |
157.4 |
156.9 |
|
Net Cash - Ending Balance |
117.7 |
106.7 |
97.0 |
95.9 |
165.1 |
|
Cash Interest Paid |
32.7 |
16.1 |
53.2 |
38.0 |
24.8 |
|
Cash Taxes Paid |
1.9 |
0.5 |
4.8 |
6.0 |
4.0 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
Total Revenue |
8,098.7 |
6,985.5 |
4,836.2 |
7,333.2 |
6,642.6 |
|
|
|
|
|
|
|
|
Other income |
26.0 |
-58.5 |
-4.8 |
-9.3 |
-1.3 |
|
Selling Expenses |
32.4 |
36.0 |
31.1 |
37.5 |
36.3 |
|
Administrative Expenses |
120.6 |
103.1 |
74.9 |
96.6 |
106.6 |
|
Directors' Renum. |
- |
- |
2.7 |
5.7 |
1.9 |
|
Cost of Sales |
7,724.9 |
6,692.6 |
4,544.5 |
7,725.0 |
6,189.9 |
|
Share of profit of investments in associ |
-1.7 |
-0.9 |
-0.5 |
0.9 |
0.0 |
|
Interest Income |
- |
- |
- |
-4.9 |
-19.6 |
|
Foreign Exchange |
- |
- |
- |
-12.3 |
-36.9 |
|
Realised G/L fr Crack Spread Swap |
- |
- |
- |
-17.0 |
- |
|
Unrealised G/L fr Crack Spread Swap |
- |
- |
- |
-3.1 |
- |
|
Dividend Received |
- |
- |
- |
-3.1 |
-1.9 |
|
Tax Refund from Custom Only |
- |
- |
- |
-11.3 |
- |
|
Impairment Loss of Fixed Assets |
- |
- |
- |
0.0 |
- |
|
Reversal of Impairment Loss of Invest |
- |
- |
- |
-1.6 |
- |
|
Losses on Disposal of Invest in Trdg Sec |
- |
- |
- |
4.2 |
- |
|
Sale and Revaluation of Investments |
- |
- |
- |
- |
-46.0 |
|
Sales of Property, Plant and Equipment |
- |
- |
- |
-2.8 |
-19.5 |
|
Unrealised G/L from Change in FV of Inv |
- |
- |
- |
32.6 |
- |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
7,902.2 |
6,772.2 |
4,647.9 |
7,837.1 |
6,209.5 |
|
|
|
|
|
|
|
|
Int. Exp./Base Rate |
-58.7 |
-16.8 |
-28.9 |
-41.8 |
-32.3 |
|
Net Income Before Taxes |
137.9 |
196.5 |
159.5 |
-545.7 |
400.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2.8 |
4.1 |
1.5 |
1.2 |
0.9 |
|
Net Income After Taxes |
135.1 |
192.4 |
158.0 |
-546.9 |
399.9 |
|
|
|
|
|
|
|
|
Minority Interests |
-0.4 |
-0.1 |
-0.3 |
-0.3 |
-0.4 |
|
Net Income Before Extra. Items |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
20,369.0 |
20,040.0 |
19,737.0 |
19,584.0 |
19,500.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Basic EPS Including ExtraOrdinary Item |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Diluted Weighted Average Shares |
20,369.0 |
20,182.0 |
19,818.0 |
19,584.0 |
19,764.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
DPS-Common Stock |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Gross Dividends - Common Stock |
120.3 |
113.7 |
91.9 |
94.6 |
125.1 |
|
Normalized Income Before Taxes |
137.9 |
196.5 |
159.5 |
-547.3 |
400.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.8 |
4.1 |
1.5 |
0.7 |
0.9 |
|
Normalized Income After Taxes |
135.1 |
192.4 |
158.0 |
-548.0 |
399.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
134.7 |
192.3 |
157.7 |
-548.3 |
399.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Diluted Normalized EPS |
0.01 |
0.01 |
0.01 |
-0.03 |
0.02 |
|
Interest Expense |
58.7 |
16.8 |
28.9 |
41.8 |
32.3 |
|
Amort of Intangibles |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Depreciation |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Rental Expenses |
6.0 |
5.0 |
3.5 |
3.8 |
3.6 |
|
Advertising Expense |
3.2 |
2.2 |
1.0 |
1.9 |
3.7 |
|
Defined Contribution Expense - Domestic |
9.2 |
7.9 |
6.6 |
6.5 |
4.7 |
|
Total Pension Expense |
9.2 |
7.9 |
6.6 |
6.5 |
4.7 |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2012 |
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Calculated |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate (Period
Average) |
31.268341 |
31.004083 |
31.002903 |
30.136505 |
30.267151 |
|
|
|
|
|
|
|
|
Sales |
2,388.9 |
2,434.5 |
1,654.8 |
2,241.0 |
2,234.6 |
|
Total Revenue |
2,388.9 |
2,434.5 |
1,654.8 |
2,241.0 |
2,234.6 |
|
|
|
|
|
|
|
|
Other income |
- |
- |
36.7 |
-14.6 |
- |
|
Cost of Sales |
2,481.8 |
2,347.3 |
1,628.6 |
2,203.0 |
2,113.3 |
|
Selling Expenses |
8.5 |
8.8 |
6.4 |
8.5 |
8.8 |
|
Other expenses |
6.3 |
0.0 |
- |
- |
0.0 |
|
Administrative Expenses |
28.5 |
26.2 |
39.7 |
30.2 |
27.5 |
|
Directors' Remuneration |
- |
- |
-2.3 |
0.5 |
- |
|
Share of profit of investments in associ |
-0.3 |
-0.3 |
0.1 |
-0.6 |
-0.7 |
|
Interest Income |
-1.5 |
-0.1 |
- |
- |
-1.9 |
|
Dividends income |
-1.3 |
0.0 |
- |
- |
-1.0 |
|
Loss on disp. of fixed assets&invets. pr |
0.0 |
-1.4 |
- |
- |
0.0 |
|
Foreign Exchange |
-8.6 |
-4.8 |
- |
- |
-5.7 |
|
Unrealised gains from changes in fair |
8.4 |
-7.9 |
- |
- |
5.2 |
|
Realised loss on commodity derivative in |
-25.4 |
31.8 |
- |
- |
-5.6 |
|
Impairment losses from fixed assets &inv |
0.0 |
1.3 |
- |
- |
4.0 |
|
Others |
-3.7 |
-3.5 |
- |
- |
-2.7 |
|
Other income- rounding |
0.0 |
0.0 |
- |
- |
0.0 |
|
Total Operating Expense |
2,492.6 |
2,397.3 |
1,709.2 |
2,227.1 |
2,141.4 |
|
|
|
|
|
|
|
|
Finance costs |
-15.0 |
-13.9 |
-16.6 |
-18.3 |
-11.5 |
|
Adjustment |
0.0 |
0.0 |
- |
- |
0.0 |
|
Realised losses from exchange rate from |
-10.0 |
8.7 |
- |
- |
-3.7 |
|
Net Income Before Taxes |
-128.8 |
32.0 |
-71.1 |
-4.4 |
78.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.9 |
1.3 |
-0.4 |
1.3 |
0.8 |
|
Net Income After Taxes |
-129.7 |
30.6 |
-70.7 |
-5.7 |
77.3 |
|
|
|
|
|
|
|
|
Non-controlling interests |
-0.2 |
-0.2 |
-0.1 |
-0.2 |
0.0 |
|
Net Income Before Extra. Items |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
Net Income |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
20,434.0 |
20,434.0 |
20,436.0 |
20,428.0 |
20,358.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Basic EPS Including ExtraOrdinary Item |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-129.9 |
30.4 |
-70.8 |
-5.9 |
77.2 |
|
Diluted Weighted Average Shares |
20,434.0 |
20,434.0 |
20,436.0 |
20,428.0 |
20,402.0 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Diluted EPS Including ExtraOrd Items |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
26.1 |
0.0 |
0.0 |
54.2 |
67.3 |
|
Normalized Income Before Taxes |
-128.9 |
31.8 |
-71.1 |
-4.4 |
82.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.9 |
1.3 |
-0.4 |
1.3 |
0.9 |
|
Normalized Income After Taxes |
-129.7 |
30.5 |
-70.7 |
-5.7 |
81.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-129.9 |
30.3 |
-70.8 |
-5.9 |
81.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Diluted Normalized EPS |
-0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Interest Expense |
15.0 |
13.9 |
16.6 |
18.3 |
11.5 |
|
Depreciation |
33.0 |
32.8 |
28.9 |
30.1 |
- |
|
Amort of Intangibles |
1.6 |
1.5 |
1.5 |
1.5 |
- |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.55 |
30.145 |
33.34 |
34.78 |
33.685 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.0 |
0.1 |
- |
- |
- |
|
Cash/Bank |
93.6 |
158.2 |
154.9 |
245.8 |
330.8 |
|
ST Investments |
32.9 |
46.7 |
23.1 |
12.6 |
45.4 |
|
Trade Rec./Rel. |
32.2 |
35.6 |
44.6 |
13.3 |
71.4 |
|
Trade Rec./Other |
291.8 |
340.2 |
203.4 |
167.1 |
330.9 |
|
Doubtful Acc. |
-9.5 |
-9.1 |
-7.3 |
-6.8 |
-6.9 |
|
ST Loans/Advance |
3.8 |
0.6 |
9.8 |
4.0 |
0.2 |
|
Raw Mat./Chem. |
280.2 |
173.5 |
142.6 |
129.0 |
219.1 |
|
Work-in-Progress |
0.6 |
5.4 |
3.4 |
3.2 |
8.5 |
|
Finished Goods |
634.6 |
561.4 |
452.4 |
453.7 |
556.9 |
|
Chemicals |
27.7 |
19.7 |
18.8 |
32.5 |
12.9 |
|
Spare Parts and Repair Materials |
65.4 |
65.5 |
73.5 |
76.8 |
69.9 |
|
Goods in Transit |
221.6 |
173.0 |
234.7 |
21.2 |
280.2 |
|
Provison |
- |
- |
-6.5 |
-149.2 |
-8.5 |
|
Other receivables |
10.0 |
5.7 |
9.0 |
19.5 |
15.8 |
|
Value Added Tax |
48.8 |
33.6 |
53.3 |
50.3 |
79.8 |
|
Prepaid Duty |
2.4 |
10.7 |
14.3 |
2.1 |
5.7 |
|
Other current assets |
21.2 |
14.7 |
20.4 |
15.0 |
16.6 |
|
Financial Adjustments |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Current Assets |
1,757.4 |
1,635.7 |
1,444.4 |
1,090.3 |
2,028.5 |
|
|
|
|
|
|
|
|
Inv./Related |
4.9 |
2.4 |
1.3 |
0.8 |
0.0 |
|
Inv./Others |
1.3 |
1.6 |
1.0 |
1.5 |
2.5 |
|
Loans to and interest rece. from rela. |
104.4 |
109.2 |
0.0 |
- |
- |
|
Investment property - net |
51.8 |
74.3 |
- |
- |
- |
|
Transactions with Former Company |
2.3 |
2.4 |
2.2 |
2.1 |
2.2 |
|
Land |
137.1 |
121.6 |
228.6 |
499.9 |
515.9 |
|
Land Improvement |
5.8 |
6.1 |
5.5 |
5.3 |
5.4 |
|
Building/Struct. |
750.3 |
758.4 |
686.6 |
653.2 |
636.8 |
|
Machinery/Pipes |
2,383.0 |
2,153.7 |
1,938.3 |
1,810.0 |
1,894.6 |
|
Tools/Factory |
61.4 |
72.0 |
61.8 |
58.3 |
77.5 |
|
Furniture/Fixt. |
21.0 |
27.3 |
21.4 |
19.3 |
16.5 |
|
Vehicles |
24.2 |
28.2 |
25.1 |
26.0 |
26.3 |
|
Construction |
285.6 |
388.1 |
197.2 |
148.6 |
18.0 |
|
Depreciation |
-1,429.0 |
-1,419.1 |
-1,194.5 |
-1,059.0 |
-1,017.0 |
|
Impairment Loss |
-18.2 |
-15.7 |
-42.1 |
-313.4 |
-324.1 |
|
Intangible, gross |
100.9 |
101.7 |
89.7 |
- |
- |
|
Amortisation of intangible |
-56.5 |
-53.1 |
-42.7 |
- |
- |
|
Other non-current assets - net |
1.9 |
1.2 |
1.3 |
1.2 |
24.5 |
|
Financial Adjustments |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Deferred Expense |
- |
- |
- |
12.3 |
3.8 |
|
Dredging Expense |
- |
- |
- |
37.2 |
42.2 |
|
Land Deposits |
- |
- |
- |
0.0 |
0.0 |
|
Total Assets |
4,189.4 |
3,996.0 |
3,425.1 |
2,993.4 |
3,953.6 |
|
|
|
|
|
|
|
|
Overdrafts/Loans |
42.5 |
199.0 |
165.0 |
237.2 |
1.0 |
|
Trade Acc./Rel. |
551.8 |
231.3 |
270.3 |
127.9 |
506.5 |
|
Current portion of long-term loans |
63.4 |
0.0 |
- |
- |
- |
|
Account Payable |
19.4 |
9.8 |
0.5 |
0.6 |
0.9 |
|
LT Liab./Debt |
1.4 |
0.8 |
0.8 |
0.8 |
0.6 |
|
Other payables |
104.7 |
63.6 |
72.0 |
30.1 |
43.7 |
|
Advanced Received fr Exer Warrants |
0.0 |
5.1 |
3.3 |
- |
- |
|
Accrued Interest |
9.6 |
10.2 |
9.2 |
9.7 |
9.6 |
|
Accrued bonus expenses |
35.5 |
37.0 |
27.7 |
16.7 |
34.0 |
|
Advance Receipts |
29.0 |
26.2 |
24.1 |
22.7 |
28.5 |
|
Other current liabilities |
18.9 |
17.6 |
18.4 |
25.0 |
21.6 |
|
Portion/LT Liab. |
- |
- |
- |
0.0 |
0.0 |
|
Total Current Liabilities |
876.1 |
600.6 |
591.2 |
470.7 |
646.5 |
|
|
|
|
|
|
|
|
Long Term Loan |
798.4 |
807.7 |
671.0 |
528.0 |
546.7 |
|
Financial Lease Liabilities |
0.5 |
2.0 |
2.6 |
2.5 |
3.3 |
|
Loans from and interest payables to rel |
71.5 |
74.8 |
0.0 |
- |
- |
|
Transactions with Former Company |
3.6 |
3.8 |
3.8 |
2.4 |
2.5 |
|
Total Long Term Debt |
873.9 |
888.2 |
677.3 |
532.9 |
552.5 |
|
|
|
|
|
|
|
|
Employee benefit obligations |
32.7 |
28.7 |
- |
- |
- |
|
Minority Int. |
1.7 |
1.5 |
1.4 |
1.4 |
1.4 |
|
Other Liabs. |
- |
- |
- |
0.4 |
0.4 |
|
Total Liabilities |
1,784.4 |
1,518.9 |
1,270.0 |
1,005.3 |
1,200.8 |
|
|
|
|
|
|
|
|
Share Capital |
647.7 |
669.1 |
594.8 |
566.6 |
578.9 |
|
Share Premium |
905.0 |
930.7 |
822.3 |
781.6 |
795.5 |
|
Loss/Securities |
-0.1 |
0.1 |
-0.3 |
-2.6 |
-0.9 |
|
Statutory Res. |
64.9 |
67.9 |
61.4 |
58.9 |
60.8 |
|
Unappr. Deficit |
791.0 |
813.2 |
683.7 |
590.2 |
1,325.2 |
|
Own Shares Held |
-3.9 |
-4.5 |
-6.8 |
-6.5 |
-6.7 |
|
Premium on treasury stock |
0.5 |
0.4 |
0.0 |
- |
- |
|
Total Equity |
2,405.0 |
2,477.0 |
2,155.2 |
1,988.1 |
2,752.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,189.4 |
3,996.0 |
3,425.1 |
2,993.4 |
3,953.6 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
20,434.0 |
20,169.8 |
19,829.2 |
19,705.6 |
19,500.0 |
|
Total Common Shares Outstanding |
20,434.0 |
20,169.8 |
19,829.2 |
19,705.6 |
19,500.0 |
|
T/S-Common Stock |
- |
- |
- |
0.0 |
0.0 |
|
Amort of Intangible |
56.5 |
53.1 |
42.7 |
- |
- |
|
Deferred Revenue |
29.0 |
26.2 |
24.1 |
22.7 |
28.5 |
|
Full-Time Employees |
5,327 |
5,033 |
- |
5,325 |
6,409 |
|
Current maturities |
- |
- |
- |
0.8 |
- |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
0.8 |
- |
|
Capital Lease due within 1 Year |
1.5 |
1.0 |
0.8 |
0.8 |
0.6 |
|
Capital Lease due in 1-5 Year |
0.4 |
2.0 |
2.5 |
2.5 |
3.3 |
|
Interest Costs |
-0.1 |
-0.2 |
- |
- |
- |
|
Total Capital Leases |
1.8 |
2.8 |
3.3 |
3.3 |
3.9 |
|
Operating Lease within 1 Year |
0.2 |
0.3 |
0.8 |
0.7 |
1.2 |
|
Operating Lease over 1-5 Years |
0.0 |
0.0 |
0.1 |
0.3 |
0.5 |
|
Operating Lease over 5 Years |
0.2 |
0.2 |
0.2 |
- |
- |
|
Total Operating Leases |
0.4 |
0.5 |
1.1 |
1.0 |
1.7 |
|
Accrued Liabilities - Domestic |
-32.7 |
-28.7 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-32.7 |
-28.7 |
- |
- |
- |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2012 |
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.913802 |
30.915001 |
31.55 |
31.085 |
30.725 |
|
|
|
|
|
|
|
|
Cash/Bank |
114.9 |
107.0 |
93.7 |
93.5 |
163.3 |
|
ST Investments |
32.0 |
41.5 |
32.9 |
29.4 |
43.6 |
|
Trade Rec./Rel. |
396.0 |
113.1 |
32.2 |
79.5 |
32.8 |
|
Trade Rec./Other |
95.7 |
455.1 |
291.8 |
350.0 |
322.3 |
|
Allowance for doubtful debts |
-9.9 |
-10.0 |
-9.5 |
-9.5 |
-9.4 |
|
Amounts due from related parties |
4.7 |
0.4 |
3.8 |
1.6 |
1.0 |
|
Inventories |
958.2 |
1,537.5 |
1,230.1 |
1,429.8 |
1,449.0 |
|
Other receivables |
11.5 |
4.4 |
10.0 |
8.8 |
9.7 |
|
Prepaid excise tax |
5.3 |
5.1 |
2.4 |
55.0 |
41.9 |
|
Refundable Value Added Tax |
60.7 |
62.1 |
48.8 |
- |
- |
|
Prepaid Duty |
- |
- |
- |
4.8 |
7.2 |
|
Other current assets |
18.5 |
20.7 |
19.3 |
34.6 |
22.2 |
|
Adjustment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Assets |
1,687.4 |
2,336.9 |
1,755.6 |
2,077.5 |
2,083.6 |
|
|
|
|
|
|
|
|
Investments in subsidiaries&associate |
5.4 |
5.3 |
4.9 |
4.8 |
4.3 |
|
Other long-term investments |
1.2 |
1.4 |
1.3 |
1.2 |
1.4 |
|
Loans to and interest receivables from |
103.2 |
106.5 |
104.4 |
105.9 |
107.2 |
|
Transaction with the former company |
2.3 |
2.3 |
2.3 |
2.3 |
2.3 |
|
Investment property |
51.8 |
53.4 |
51.8 |
71.7 |
72.6 |
|
Property, Plant and Equipment |
2,231.3 |
2,277.7 |
2,221.1 |
2,105.5 |
2,110.7 |
|
Intangible Assets |
47.2 |
46.0 |
44.3 |
44.5 |
45.2 |
|
Other non-current assets |
1.6 |
1.8 |
1.9 |
1.7 |
1.7 |
|
Financial Adjustments |
- |
- |
- |
0.0 |
0.0 |
|
Total Assets |
4,131.4 |
4,831.3 |
4,187.6 |
4,415.1 |
4,429.0 |
|
|
|
|
|
|
|
|
STloans from financial institu. |
163.9 |
244.4 |
42.5 |
317.5 |
157.6 |
|
Account Payable |
489.8 |
802.1 |
551.8 |
559.5 |
649.2 |
|
Amounts due to related parties |
1.5 |
9.4 |
19.4 |
0.6 |
1.4 |
|
Current portion of finance lease liabili |
0.5 |
1.4 |
1.4 |
1.3 |
1.3 |
|
Current portion of long-term loans |
62.7 |
64.7 |
63.4 |
24.2 |
24.5 |
|
Other payables |
49.4 |
46.5 |
104.7 |
53.5 |
46.3 |
|
Advance Received for ESOP |
- |
- |
- |
0.2 |
6.6 |
|
Interest payables |
10.7 |
10.7 |
9.6 |
10.3 |
9.8 |
|
Accrued bonus expenses |
4.1 |
2.2 |
35.5 |
21.0 |
14.2 |
|
Advance receipts for goods |
21.8 |
31.0 |
29.0 |
24.2 |
31.0 |
|
Other current liabilities |
14.7 |
19.8 |
17.4 |
14.0 |
11.2 |
|
Total Current Liabilities |
819.0 |
1,232.2 |
874.6 |
1,026.2 |
953.1 |
|
|
|
|
|
|
|
|
Long-term borrowings |
948.5 |
1,001.5 |
798.4 |
766.9 |
772.6 |
|
Financial Lease Liabilities |
0.2 |
0.2 |
0.5 |
0.8 |
0.9 |
|
Loans from and interest payables to rel |
70.7 |
72.9 |
71.5 |
72.5 |
73.4 |
|
Transactions with the former company |
3.5 |
3.7 |
3.6 |
3.6 |
3.7 |
|
Total Long Term Debt |
1,022.9 |
1,078.4 |
873.9 |
843.9 |
850.6 |
|
|
|
|
|
|
|
|
Employee benefit obligations |
33.9 |
34.2 |
32.7 |
32.1 |
30.6 |
|
Non-controlling interests |
1.6 |
1.9 |
1.7 |
1.6 |
1.5 |
|
Total Liabilities |
1,877.4 |
2,346.6 |
1,782.9 |
1,903.8 |
1,835.8 |
|
|
|
|
|
|
|
|
Share Capital |
640.3 |
661.0 |
647.7 |
657.3 |
662.7 |
|
Share Premium |
894.7 |
923.6 |
905.0 |
918.5 |
924.9 |
|
Cha. in fair value of mark. sec.-A-F -S |
-0.2 |
-0.1 |
-0.1 |
-0.2 |
0.0 |
|
Appropriated for legal reserve |
64.2 |
66.2 |
64.9 |
65.9 |
66.6 |
|
Unappropriated |
658.4 |
837.5 |
790.7 |
873.4 |
942.5 |
|
Treasury stock - own shares held by a su |
-3.9 |
-4.0 |
-3.9 |
-4.0 |
-4.0 |
|
Premium on treasury stock |
0.5 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Total Equity |
2,254.0 |
2,484.7 |
2,404.7 |
2,511.4 |
2,593.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,131.4 |
4,831.3 |
4,187.6 |
4,415.1 |
4,429.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
20,434.0 |
20,434.0 |
20,434.0 |
20,432.7 |
20,361.9 |
|
Total Common Shares Outstanding |
20,434.0 |
20,434.0 |
20,434.0 |
20,432.7 |
20,361.9 |
|
Deferred Revenue |
21.8 |
31.0 |
29.0 |
24.2 |
31.0 |
|
Full-Time Employees |
- |
- |
5,327 |
- |
- |
|
Current maturities |
- |
- |
- |
25.5 |
25.8 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
25.5 |
25.8 |
|
Operating Lease within 1 Year |
1.2 |
1.7 |
0.2 |
0.7 |
1.2 |
|
Operating Lease over 1-5 Years |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Operating Lease over 5 Years |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Total Operating Leases |
1.4 |
2.0 |
0.4 |
0.9 |
1.5 |
|
Accrued Liabilities - Domestic |
-33.9 |
-34.2 |
-32.7 |
-32.1 |
-30.6 |
|
Net Assets Recognized on Balance Sheet |
-33.9 |
-34.2 |
-32.7 |
-32.1 |
-30.6 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
ABAS Limited |
PricewaterhouseCoopers
LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
134.7 |
192.3 |
157.7 |
-547.3 |
399.5 |
|
Depreciation |
111.9 |
101.0 |
92.0 |
92.0 |
86.1 |
|
Amortisation |
6.0 |
5.7 |
5.1 |
4.6 |
3.8 |
|
Interest Income |
-4.3 |
-2.2 |
-1.9 |
-4.9 |
-19.7 |
|
Dividends income |
-1.6 |
-1.2 |
-1.2 |
-3.2 |
-1.9 |
|
Bad Debt Allowance |
1.1 |
1.0 |
0.0 |
0.7 |
-0.8 |
|
Allowance for Declining in Inventories |
2.1 |
-1.9 |
-144.9 |
146.9 |
4.3 |
|
Unrealised Exchange |
-2.5 |
-0.5 |
0.5 |
-0.1 |
-7.0 |
|
Unrealised G/L from Financial Instrument |
-2.0 |
-3.9 |
9.9 |
-3.1 |
- |
|
Sales of Investments |
11.5 |
-20.1 |
-8.7 |
36.8 |
-44.9 |
|
Sale of Assets |
13.4 |
1.0 |
0.2 |
-2.9 |
-19.5 |
|
Impairment Allowance for Land Deposit |
3.4 |
-2.9 |
7.3 |
-0.3 |
-0.5 |
|
Share of profit of investments in associ |
-1.7 |
-0.9 |
-0.5 |
0.9 |
0.0 |
|
Minority Interest |
0.4 |
0.1 |
0.3 |
0.3 |
0.4 |
|
Income Tax Expense |
2.8 |
4.1 |
1.5 |
1.2 |
0.9 |
|
Employee benefit expenses |
5.5 |
2.6 |
- |
- |
- |
|
Finance costs |
58.7 |
16.8 |
28.9 |
41.8 |
32.3 |
|
Trade Rec./Related |
39.2 |
-95.9 |
-58.0 |
217.9 |
-196.0 |
|
Inventories |
-287.8 |
18.7 |
-172.7 |
411.5 |
-179.5 |
|
Other Receivables |
-4.9 |
3.6 |
-8.1 |
4.5 |
-3.4 |
|
Amounts due from related parties |
-3.4 |
9.8 |
-5.6 |
- |
- |
|
Prepaid Taxes |
-17.2 |
24.0 |
-0.8 |
28.2 |
-9.3 |
|
Prepaid Duty |
8.1 |
4.9 |
-11.7 |
3.6 |
2.1 |
|
Other Current Assets |
-3.4 |
4.3 |
4.9 |
-0.2 |
3.0 |
|
Trade Pay./Related |
342.1 |
-64.3 |
132.2 |
-377.9 |
273.1 |
|
Other Payables |
-5.8 |
-7.3 |
22.3 |
-12.7 |
-21.7 |
|
Amounts due to related parties |
10.4 |
8.8 |
-1.8 |
- |
- |
|
Accrued Bonus |
0.2 |
6.0 |
10.6 |
-16.9 |
4.5 |
|
Advance for Goods |
4.2 |
-0.5 |
0.5 |
-5.1 |
-8.5 |
|
Other Current Liab. |
5.7 |
-2.6 |
-5.2 |
4.3 |
9.2 |
|
Withholding Tax Refund |
1.2 |
2.7 |
1.5 |
4.1 |
0.4 |
|
Income Tax Paid |
-6.0 |
-3.6 |
-2.7 |
-3.9 |
-2.9 |
|
Unrealised Gain on Swap Contracts |
- |
- |
- |
- |
-1.2 |
|
Unrealised Exc. for Repaym. under Plan |
- |
- |
- |
- |
0.0 |
|
Debenture Repurchase |
- |
- |
- |
- |
0.0 |
|
Impairment |
- |
- |
- |
-1.3 |
15.0 |
|
Cash from Operating Activities |
421.8 |
199.4 |
51.6 |
19.7 |
317.9 |
|
|
|
|
|
|
|
|
ST< loans and int. rece. from rela. |
0.3 |
0.0 |
- |
- |
- |
|
Interest Received |
4.0 |
2.2 |
2.1 |
4.8 |
16.6 |
|
Dividend Received |
1.6 |
1.2 |
1.2 |
3.2 |
1.9 |
|
ST Invesments |
0.6 |
0.0 |
0.7 |
-3.8 |
181.8 |
|
Investments/Loans |
- |
- |
1.2 |
0.1 |
60.3 |
|
Capital Expenditures |
-257.8 |
-194.6 |
-89.8 |
-151.3 |
-27.7 |
|
Sale/Tangibles |
1.8 |
1.5 |
1.8 |
3.6 |
21.0 |
|
Intangibles |
-3.9 |
-2.4 |
-0.8 |
-9.7 |
-3.5 |
|
Other Assets |
-0.8 |
0.2 |
0.2 |
23.4 |
-22.7 |
|
ST Loans/Advances |
- |
- |
- |
-4.0 |
-12.2 |
|
Purchases of investment in an associate |
-1.0 |
0.0 |
- |
-1.7 |
0.0 |
|
Cash from Investing Activities |
-255.2 |
-191.9 |
-83.4 |
-135.4 |
215.5 |
|
|
|
|
|
|
|
|
Interest paid net of interest rate swap |
-53.2 |
-42.1 |
-40.1 |
-41.1 |
-22.9 |
|
Dividend Paid |
-120.3 |
-113.5 |
-91.7 |
-175.3 |
-125.0 |
|
ST Loan from related |
0.1 |
0.0 |
- |
- |
- |
|
Sales of Swap Contracts |
-0.3 |
-0.8 |
3.3 |
2.3 |
0.0 |
|
Overdrafts/Loans |
- |
15.8 |
- |
246.2 |
- |
|
Decr. in Overdrafts/Loans |
-153.0 |
- |
-80.1 |
- |
-870.1 |
|
LT Loans fr Financial Institution |
81.1 |
86.3 |
139.6 |
0.0 |
- |
|
Repayment of Debentures |
- |
- |
-9.9 |
-10.5 |
0.0 |
|
Financial Lease Payments |
-0.8 |
-0.9 |
-0.8 |
-0.6 |
-0.4 |
|
Other Non-Current Liabilities |
- |
- |
-0.4 |
0.0 |
- |
|
Share Capital |
20.4 |
34.2 |
10.4 |
17.7 |
0.0 |
|
Net Cash Received in Advance fr Exer War |
0.0 |
1.4 |
3.2 |
0.0 |
- |
|
Minority Interest |
-0.1 |
-0.2 |
-0.3 |
-0.3 |
-0.1 |
|
ST Loans/Advances |
- |
- |
- |
-0.3 |
-24.3 |
|
Increase Rehab Plan |
- |
- |
- |
- |
0.0 |
|
Insurance of Debentures |
- |
- |
- |
- |
543.7 |
|
Cash from Financing Activities |
-226.2 |
-19.9 |
-66.8 |
38.0 |
-499.2 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-59.5 |
-12.4 |
-98.7 |
-77.7 |
34.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
156.5 |
162.7 |
249.0 |
334.0 |
291.2 |
|
Net Cash - Ending Balance |
97.0 |
150.4 |
150.4 |
256.2 |
325.4 |
|
Cash Interest Paid |
53.2 |
42.1 |
40.1 |
41.1 |
22.9 |
|
Cash Taxes Paid |
4.8 |
1.0 |
1.2 |
3.9 |
2.9 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2012 |
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.141583 |
31.004083 |
30.484713 |
30.310418 |
30.401066 |
|
|
|
|
|
|
|
|
Net Profit/Loss |
-97.5 |
30.4 |
134.7 |
207.9 |
203.0 |
|
Depreciation |
65.8 |
32.9 |
111.9 |
82.9 |
52.9 |
|
Amortisation |
3.1 |
1.5 |
6.0 |
4.5 |
3.0 |
|
Interest Income |
-1.5 |
-0.1 |
-4.3 |
-2.1 |
-2.0 |
|
Dividends income |
-1.3 |
- |
-1.6 |
-1.7 |
-1.0 |
|
Bad debts and doubtful accounts |
0.8 |
0.4 |
1.1 |
1.0 |
0.6 |
|
Allowance for declining in value of inve |
43.3 |
-0.8 |
- |
16.5 |
5.8 |
|
Unrealised gains on exchange rate |
-1.0 |
-0.2 |
-2.5 |
-1.6 |
-0.9 |
|
Unrealised G./L. frm Fin. Instruments |
- |
- |
-2.0 |
-25.7 |
- |
|
Gain on Sale & Revalue of Investment |
- |
-7.9 |
11.5 |
15.7 |
- |
|
G/L from disposals of fixed asset & inv. |
-1.4 |
-1.4 |
13.4 |
0.8 |
0.1 |
|
Allow. for impair. of fixed assets&inv. |
1.3 |
1.3 |
- |
4.0 |
4.0 |
|
Share of profit of investments in associ |
-0.6 |
-0.3 |
-1.7 |
-1.8 |
-1.2 |
|
Minority Interest |
- |
0.2 |
0.4 |
0.3 |
- |
|
Income Tax Expense |
- |
1.3 |
2.8 |
3.2 |
- |
|
Interest Expense |
30.3 |
5.2 |
58.7 |
42.1 |
26.1 |
|
Employee benefit expenses |
1.6 |
- |
5.5 |
4.4 |
2.5 |
|
Trade accounts receivable |
-174.8 |
-235.7 |
39.2 |
-62.5 |
15.1 |
|
Inventories |
221.0 |
-280.4 |
-287.8 |
-489.7 |
-480.1 |
|
Other Receivables |
-1.6 |
5.7 |
-4.9 |
-3.6 |
-4.2 |
|
Amounts due from related parties |
-0.9 |
3.5 |
-3.4 |
-1.0 |
-0.3 |
|
Refundable Value Added Tax |
-12.8 |
-12.3 |
-17.2 |
-23.0 |
-9.0 |
|
Prepaid Excise Tax |
-2.9 |
-2.6 |
8.1 |
5.7 |
3.4 |
|
Other Current Assets |
0.3 |
-1.8 |
-3.4 |
4.5 |
1.3 |
|
Trade accounts payable |
-57.1 |
237.2 |
342.1 |
341.5 |
426.4 |
|
Other Payables |
-10.2 |
-13.8 |
-5.8 |
-24.4 |
-22.3 |
|
Amounts due from related parties |
-18.1 |
-10.3 |
10.4 |
-9.1 |
-8.3 |
|
Accrued Bonus |
-31.8 |
-33.9 |
0.2 |
-15.2 |
-22.3 |
|
Advance receipts for goods |
-7.1 |
1.4 |
4.2 |
-1.2 |
5.4 |
|
Other Current Liab. |
-2.6 |
2.1 |
5.7 |
2.0 |
-1.0 |
|
Withholding Tax Refund |
0.0 |
0.0 |
1.2 |
0.0 |
0.0 |
|
Income Tax paid |
-1.9 |
-0.5 |
-6.0 |
-6.0 |
-4.0 |
|
Provision for Decline in Value of Inven |
- |
- |
2.1 |
- |
- |
|
Loss fr cha. in fair value of inv. in tr |
0.6 |
- |
- |
- |
2.2 |
|
Impairment Deposit for Land |
- |
- |
3.4 |
- |
- |
|
Employee benefit obligations |
- |
0.8 |
- |
- |
- |
|
Cash from Operating Activities |
-57.1 |
-278.0 |
421.8 |
68.3 |
195.2 |
|
|
|
|
|
|
|
|
Interest Received |
1.5 |
0.1 |
4.0 |
3.4 |
1.5 |
|
Dividends received |
1.3 |
- |
1.6 |
1.7 |
1.0 |
|
ST Loans and Interest Rec.-related |
0.0 |
0.0 |
0.3 |
-1.4 |
0.5 |
|
Purchase of Investment in Associates |
0.0 |
- |
-1.0 |
-0.7 |
-0.7 |
|
Purchases of fixed assets and investment |
-148.9 |
-93.6 |
-257.8 |
-119.7 |
-78.9 |
|
Disposals of fixed assets &investment pr |
4.3 |
4.3 |
1.8 |
0.8 |
0.7 |
|
Purchase of intangible assets |
-6.5 |
-2.2 |
-3.9 |
-1.8 |
0.0 |
|
(Increase)/ decrease in other non-curren |
0.3 |
0.1 |
-0.8 |
-0.6 |
-1.3 |
|
ST Invesments |
- |
- |
0.6 |
0.7 |
- |
|
Procds from disposal of inta. assets |
0.0 |
- |
- |
- |
0.2 |
|
Cash from Investing Activities |
-147.9 |
-91.3 |
-255.2 |
-117.7 |
-77.1 |
|
|
|
|
|
|
|
|
Interest paid net of interest rate swap |
-32.7 |
-16.1 |
-53.2 |
-38.0 |
-24.8 |
|
Termination of derivative instrument |
1.5 |
1.5 |
- |
- |
-0.2 |
|
Overdrafts/Short Loans-FI |
125.2 |
- |
- |
127.3 |
- |
|
ST Loan from related |
- |
- |
0.1 |
- |
- |
|
Decr. in Overdrafts/Short Loans- FI |
- |
- |
-153.0 |
- |
-37.8 |
|
Dividend Paid |
-26.2 |
- |
-120.3 |
-120.9 |
-67.0 |
|
Finance lease payments |
-1.2 |
- |
- |
-0.7 |
-0.5 |
|
Repayment for cancellation of interes ra |
- |
- |
-0.3 |
-0.2 |
- |
|
Dividends paid to non-controlling intere |
-0.4 |
- |
-0.1 |
-0.1 |
-0.1 |
|
Proceeds from common shares issuance |
0.0 |
0.0 |
20.4 |
25.4 |
18.6 |
|
Adv. Rec. from exe. warrants undr ESOP |
0.0 |
0.0 |
- |
-4.9 |
1.7 |
|
Long-term loans from related parties |
- |
0.0 |
- |
- |
- |
|
ST Loans/Advances |
- |
200.8 |
- |
- |
- |
|
Payment of current portion of long-term |
-32.1 |
- |
- |
- |
0.0 |
|
Proceeds from long-term loans from finan |
193.9 |
194.7 |
81.1 |
- |
0.0 |
|
Financial lease payments |
- |
-0.3 |
-0.8 |
- |
- |
|
Advance Receipts for ESOP |
- |
- |
0.0 |
- |
- |
|
Cash from Financing Activities |
227.9 |
380.7 |
-226.2 |
-12.1 |
-110.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
22.8 |
11.3 |
-59.5 |
-61.5 |
8.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
94.9 |
95.3 |
156.5 |
157.4 |
156.9 |
|
Net Cash - Ending Balance |
117.7 |
106.7 |
97.0 |
95.9 |
165.1 |
|
Cash Interest Paid |
32.7 |
16.1 |
53.2 |
38.0 |
24.8 |
|
Cash Taxes Paid |
1.9 |
0.5 |
4.8 |
6.0 |
4.0 |
Business Segments
Financials in: As Reported (mil)
|
Annual |
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Business Segments
Financials in: As Reported (mil)
|
Interim |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.54 |
|
UK Pound |
1 |
Rs.87.39 |
|
Euro |
1 |
Rs.68.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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
SCs 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.