MIRA
INFORM REPORT
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Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
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Name : |
THAI AIRWAYS INTERNATIONAL PCL |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.08.1959 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in aviation and related air transport businesses. |
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No. of Employees : |
25,848 |
RATING & COMMENTS
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MIRA’s 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
Thai Airways International PCL
89 Wiphawadirangsit Road
Chomphon, Chatuchak
Bangkok, 10900
Thailand
Tel: 66-25-451000
Fax: 66-25-130203
Web: www.thaiairways.com
Registration data
Employees: 25,848
Company Type: Public Parent
Corporate Family: 10
Companies
Traded: Stock
Exchange of Thailand (Bangkok): THAI
Incorporation Date: 24-Aug-1959
Auditor: Office of the Auditor General
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Thai
Baht
Annual Sales: 6,265.3 1
Net Income: (334.5)
Total Assets: 8,698.7 2
Market Value: 1,467.2 (08-Jun-2012)
Business Description
Thai Airways
International Public Company Limited is a Thailand-based company engaged in the
aviation and related air transport businesses. The Company serves as the
Kingdom of Thailand’s national flag carrier. It operates transport of
passengers, cargo and mail on schedule flights and charter flights to domestic
and international destinations. It also provides supporting operations,
including ground customer services, which facilitate and assist passengers at
check-in counters and lounges, as well as provide information; ground support
equipment services, which provide passenger and crew transport services,
baggage services, aircraft services and maintenance services; cargo and mail
commercial services; catering services, and technical services. As of December
31, 2010, the Company operated 97 aircrafts, with 56 aircrafts were owned by
the Company and 31 aircrafts were under operating lease. For the nine months
ended 30 September 2011, Thai Airways International Public Company Limited's
revenues for the period increased 10% to BAH145.07B. Net income for the period
decreased from BAH12.00B to BAH4.78B net loss. Revenues for the period reflect
an increase in income from passenger, freight, mail and other. Net income for
the period was mainly offset by an increase in fuel and oil expenses and loss
on currency exchange.
Industry
Industry Airlines
ANZSIC 2006: 4900 - Air and
Space Transport
NACE 2002: 6210 - Scheduled
air transport
NAICS 2002: 481111 - Scheduled
Passenger Air Transportation
UK SIC 2003: 6210 - Scheduled
air transport
US SIC 1987: 4512 - Air
Transportation, Scheduled
Key Executives
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Name |
Title |
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Sharita Lilayut |
President of Accounting Management and Budget |
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Wasukarn Wisansawat |
Vice President of Finance and Accounting |
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Parnthit Shanaphai |
Vice President of Commerce |
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Thiraphon Shotshanaphibarn |
Vice President of Product and Customer Services |
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Sathok Worasarin |
Vice President of Human Resources |
Significant Developments
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* number of significant developments within the last 12 months
News
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Financial Summary
As of 31-Mar-2012
Key Ratios Company Industry
Current Ratio (MRQ) 0.90 1.01
Quick Ratio (MRQ) 0.79 0.80
Debt to Equity (MRQ) 2.17 7.50
Net Profit Margin (TTM) % -3.67 2.64
Return on Assets (TTM) % -2.49 1.97
Return on Equity (TTM) % -9.99 8.45
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
89 Wiphawadirangsit Road
Chomphon, Chatuchak
Bangkok, 10900
Thailand
Tel: 66-25-451000
Fax: 66-25-130203
Web: www.thaiairways.com
Quote Symbol - Exchange
THAI - Stock
Exchange of Thailand (Bangkok)
Sales THB(mil): 190,997.2
Assets THB(mil): 274,444.7
Employees: 25,848
Fiscal Year End: 31-Dec-2011
Industry: Airlines
Incorporation Date: 24-Aug-1959
Company Type: Public
Parent
Quoted Status: Quoted
President of Accounting
Management and Budget: Sharita
Lilayut
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
Shareholders
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
4900 - Air and Space Transport
NACE 2002 Codes:
6210 - Scheduled air transport
NAICS 2002 Codes:
481111 - Scheduled Passenger Air Transportation
US SIC 1987:
4512 - Air Transportation, Scheduled
UK SIC 2003:
6210 - Scheduled air transport
Business
Description
Thai Airways
International Public Company Limited is a Thailand-based company engaged in the
aviation and related air transport businesses. The Company serves as the
Kingdom of Thailand’s national flag carrier. It operates transport of
passengers, cargo and mail on schedule flights and charter flights to domestic
and international destinations. It also provides supporting operations,
including ground customer services, which facilitate and assist passengers at
check-in counters and lounges, as well as provide information; ground support
equipment services, which provide passenger and crew transport services,
baggage services, aircraft services and maintenance services; cargo and mail
commercial services; catering services, and technical services. As of December
31, 2010, the Company operated 97 aircrafts, with 56 aircrafts were owned by
the Company and 31 aircrafts were under operating lease. For the nine months
ended 30 September 2011, Thai Airways International Public Company Limited's
revenues for the period increased 10% to BAH145.07B. Net income for the period
decreased from BAH12.00B to BAH4.78B net loss. Revenues for the period reflect
an increase in income from passenger, freight, mail and other. Net income for
the period was mainly offset by an increase in fuel and oil expenses and loss
on currency exchange.
More Business
Descriptions
Operation of international airline
Commercial Airlines; Airport Restaurants & Hotels; Fueling Services
Commercial Airlines; Airport Restaurants & Hotels; Fueling Services
Thai Airways International Public Company Limited (Thai) is engaged in aviation and its related business. The hosts of services offered by the company are transport of cargo, passengers and mail on regularly scheduled flights as well as chartered flights to domestic and international destinations. Thai’s business units division is engaged in providing ground customer services, Ground Support Equipment Services, Cargo and mail commercial services, catering services and technical services. The technical services include maintenance and repair of aircraft. The catering services include the operation of restaurants and snack bars at the airports. The company operates and leases a fleet of 89 aircraft. These aircraft include 18 Boeing 747-400, 6 Boeing 777-300, 8 Boeing 777-200, 6 Boeing 777-200ER, 10 Boeing 737-400, 6 Airbus A340-600, 4 Airbus A340-500, 12 Airbus A330-300, 17 Airbus A300-600 and 2 ATR 72. The company’s route network spans 62 international flights to 35 countries and serves 12 domestic locations. Thai has 553 international flights per week with 420 to destinations within Thailand and spanning 43 destinations within 20 countries. Further, Thai flies 133 intercontinental flights serving 43 destinations in 14 countries. The regional routes include Asia, Northern routes, and Southern routes, Routes in Indochina, Western Routes and Middle Eastern Routes. The intercontinental routes are North American Routes, European routes, Australia and New Zealand Routes, and African Route.The company is also a member of Star Alliance which comprises of 21 airline companies. All the airlines together in the group cover 975 airports across the world in 162 countries with 18,110 daily flights, of which 17,020 are code share flights. This alliance enables all its members to work in cooperation to provide better services at a lower cost.Thai also focuses on usage of information technology to enhance its services, offering and launch new products. The various IT systems used by the company to improve its services include electronic publishing system which is used to generate documents required for managing flight information, the Network Management System which provides network decisions based on scenario analysis, The ground operations control system which coordinates ground operations at the company’s operations center at Suvarnabhumi airport. The mobile information and communication System provide necessary information to its passengers using personal digital assistants.
Thai Airways
International Public Company Limited (Thai) provides passengers transportation,
cargo, and mail services on regular scheduled flights and chartered flights. It
provides its services to domestic and international destinations. The company
and its subsidiaries engaged in offering cargo and mail, catering, technical,
ground customer, ground support equipment services. It is also engaged in
providing dispatch services, sales on board and Thai shop services. Thai
operates its business through three reportable segments namely, air
transportation, business units and other activities. The company has its
business operations in Asia and Europe, Australia, New Zealand and North
pacific regions. The company is headquartered at Thailand.The company reported
revenues of (Baht) THB 180,588.68 million during the fiscal year ended December
2010, an increase of 11.75% over 2009. The operating profit of the company was
THB 24,864.02 million during the fiscal year 2010, an increase of 26.31% over
2009. The net profit of the company was THB 15,349.69 million during the fiscal
year 2010, an increase of 109.02% over 2009.
Thai Airways
International (Thailand) is the designated national airline of Thailand,
operating passenger and cargo flights to 73 destinations in 33 countries,
including 23 domestic destinations in Thailand.
Scheduled Air Transportation
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities |
Threats |
Overview
Thai Airways
International Public Company Limited (Thai) is engaged in providing
transportation services for passengers, cargo and mail services to domestic and
international routes on regular scheduled flights and chartered flights. The
company enhanced its competitive position through excellent service offering.
Strengths
Efficient Use of Resources
The company's
return on equity (ROE) was 18.6% for fiscal year 2010. This was above the
S&P 500 companies average* of 4.5%. A higher than S&P 500 companies
average* ROE may indicate that the company is efficiently using the
shareholders' money and that it is generating high returns for its shareholders
compared to other companies in the S&P 500 index.
Expanding Operating Margin
The company's
operating margin was 13.77% for the fiscal year 2010. This was above the
S&P 500 companies average* of 7.26%. A higher than S&P 500 companies
average* operating margin may indicate efficient cost management or a strong
pricing strategy by the company. The operating margin has increased 159 basis
points (bps) over 2009 which may indicate management's high focus on improving
profitability.
Service Offerings
The company offers
a wide range of services categorized under Ground Customer Services, Ground
Support Equipment Services, Cargo and Mail Commercial Services, Catering
Services and Technical Services. The host of services offered under Ground
Customer Services include Passenger services, Baggage services, Transportation
control services, passenger and baggage check-in services. The Ground Support
Equipment Services provided include Passenger Crew and Baggage Services,
Aircraft Services and Maintenance Services. The Cargo and Mail Commercial
Services include Warehouse storage service, Cargo and mail documentation
service, Cargo tracing service, Transfer of electronic information to customer
airlines and overseas stations and many more. The Catering Services include
preparation of Food and beverage for in-flight services for THAI and customer
airlines; Restaurant and snack bar operations at its airports; Internal and
external banquet services, Food preparation at staff canteens Cooking and
bakery courses for public. The Technical Services are provided for proper
maintenance of aircrafts and their related equipment. Such a host of services
offered by Thai Airways improve the customer satisfaction along with gaining
prestigious reputation
Weaknesses
Operating an Aging Aircraft Fleet
The use of aging
aircraft for service increases operating expense over time including
maintenance expense, which impact the Company’s overall financial
performance. As the process of acquiring new aircraft takes a lot of time and
capital expenditure, a comprehensive effective maintenance plan has been
specified. The delayed delivery of 5 new A330-300 aircraft as a result of Koito
Industries being unable to deliver economy class seats to the company has
impacted the production capacity of the Company.
Litigation
The company is
subject to legal risks for antitrust cases in several jurisdiction such as the
investigations in the United States, the European Community, Australia, New
Zealand and South Korea. As of November 2010, charges against Thai by the Commission
of the European Communities (EC) for colluding in setting cargo fuel surcharge
with other airlines have been dropped. The company has to pay penalty of
THB3,661m. Thai Airways International PCL announced it has been fined THB82m as
a result of an investigation brought against it by the Korea Fair Trade
Commission (KFTC) regarding its air freight operations in and out of the
country.
Opportunities
Positive Long-Term Passenger Outlook
The long-term
outlook for global passenger growth looks positive. According to the Airports
Council International (ACI), global passenger volume by 2009 is over 5.0
billion, and by 2027, passenger volume is projected to be 11.0 billion, with 30
million passengers per day. In the coming 20 years, the global passenger traffic
is expected to increase 4.2% annually due to increase in international traffic
growth by 4.5% annually. The passenger volume in domestic markets in India and
China is expected to rise by 4% annually. Factors that are expected to drive
passenger volume include increase development in air transportation in many
Asia-Pacific countries, and also rapid growth of the Chinese and Indian
economies. The company could definitely benefit from this positive outlook.
Star Alliance Membership
The company is a
member of Star alliance which comprises of 21 airlines. The Star Alliance
network spans 1,292 airports around the world in 188 countries with 22,518
daily flights. In 2010, Avianca-TACA group from Colombia and El Salvador, and
COPA Airlines from Panama joins THAI. All the members of the Star Alliance work
in coordination by adjusting their flight times to enable a better passenger
connectivity. Further, the company through Star Alliance offered Corporate Plus
Programs and signed contracts with 24 multi-national corporations. Such an
alliance helps in increase revenue while reducing costs for the airline
members.
Thailand Travel
& Tourism Industry
The increasing
scope for the Travel and Tourism Industry in Asia Pacific nations could ensure
the growth opportunities to the company. Malaysia, Japan, and Korea are the
major countries, from where, large amount of visitors comes to Thailand. Apart
from ASEAN countries, tourist arrivals from China and India are to remain
influential. Thailand has been promoting its healthcare tourism and is expected
that the tourist arrival for the purpose of medical treatment to reach 2
million by the end of 2010. Regional demand for travel is also projected to
increase, dominated by short trips by Thai travelers to take advantage of cheap
shopping and resort facilities in other ASEAN countries. This trend could be
supported by the growing popularity of low-cost carriers. This scenario
presents greater growth opportunities for AoT.
Threats
Rising Fuel Costs
The global fuel
prices have been increasing rapidly due to declining crude oil supplies. As a
result, the company’s growth could be limited owing to the frequent rise in
fuel prices. The average market price for aviation fuel was nearly $724 per ton
in 2010, an increase of 28% over 2009. The market jet kerosene prices
fluctuated between $630 and $780 per ton in the first half of 2010. It reached
approximately $830 per ton during December 2010. The company’s fuel costs
represented 22.4% of the total operating costs. The cost of fuel per ASK
(Available Seat-Kilometers) increased by 9.8% in 2010 year-on-year basis. The
International Air Transport Association (IATA) has estimated that industry fuel
bill in 2011 would increase by $10 billion to $176 billion. Rising fuel prices
could affect the profit margin of the company, as they would find it difficult
to pass on the increased fuel prices to passengers in the form of price hike or
surcharges.
Thailand’s
Political enviornment
Thailand uncertain
political conditions pose a greater threat for AoT. Political unrest caused the
closures of AoT’s airports including the critically important Suvarnabhumi
airport, which is projected as a major hub in Asia-Pacific. This resulted in
diversion of flights, and damages to the airport properties, among others,
causing heavy losses to AoT and to the carriers. Incidents such as this could
have a negative impact on the company’s top-line performance.
Competitive Pressure
Aviation industry
is highly competitive. Thai Airways faces stiff competition from national and
international airways service providers and also from low cost airlines. Thai
Airways competes with China airlines lt, Singapore airlines limited Skywest,
Inc, British airways plc and Austrian Airlines AG In such a highly competitive
scenario, the company could face challenges in pricing, quality, services, and
related issues. The company’s failure to maintain and enhance its competitive
position could adversely affect its business and prospects. Furthermore, the
company faces competition in acquiring prime locations, global distribution
system, hiring personnel, and advertising, which could affect its business.
Competitive pressure could lead to reduction in sales and could thereby have a
negative impact on its sales.
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Corporate
Family |
Corporate
Structure News: |
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Thai Airways International PCL |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Bangkok |
Thailand |
Airlines |
6,265.3 |
25,848 |
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Subsidiary |
Dubai |
United Arab Emirates |
Miscellaneous Transportation |
75.0 |
100 |
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Subsidiary |
Abu Dhabi |
United Arab Emirates |
Miscellaneous Transportation |
75.0 |
100 |
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Subsidiary |
Riyadh, Ar Riyad |
Saudi Arabia |
Metal Mining |
68.0 |
100 |
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Subsidiary |
Medan |
Indonesia |
Miscellaneous Transportation |
52.0 |
100 |
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Subsidiary |
Surabaya, East Java |
Indonesia |
Miscellaneous Transportation |
52.0 |
100 |
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Subsidiary |
Jakarta Pusat |
Indonesia |
Miscellaneous Transportation |
52.0 |
100 |
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Subsidiary |
Salcedo Village, Makati , Metro Manila |
Philippines |
Miscellaneous Transportation |
30.0 |
100 |
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Branch |
Admiralty, Hong Kong |
Hong Kong |
Airlines |
6,071.9 |
90 |
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Subsidiary |
El Segundo, CA |
United States |
Personal Services |
1.4 |
60 |
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Competitors
Report |
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CompanyName |
Location |
Employees |
Ownership |
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AMR Corporation |
Fort Worth, Texas, United States |
80,100 |
Public |
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British Airways PLC |
Middlesex, United Kingdom |
40,252 |
Public |
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Japan Airlines Co Ltd |
Tokyo, Japan |
47,970 |
Public |
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Qantas Airways Limited |
Mascot, New South Wales, Australia |
33,439 |
Public |
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Singapore Airlines Ltd. |
Singapore, Singapore |
22,282 |
Public |
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SkyWest, Inc. |
St. George, Utah, United States |
18,832 |
Public |
Executive report
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Board of
Directors |
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Chairman of the Board, Independent Director |
Chairman |
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Chairman-Executive Board |
Chairman |
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Chairman of the Management Board, Independent Director |
Chairman |
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Vice Chairman of the Board 2, Independent Director, Director |
Vice-Chairman |
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Vice Chairman of the Board, Director |
Vice-Chairman |
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Vice Chairman of the Board 1 |
Vice-Chairman |
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Vice Chairman of the Board, Independent Director |
Vice-Chairman |
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President |
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Board Member |
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Director |
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Managing Director of Engineering, Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director, Independent Director |
Director/Board Member |
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Board Member |
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Board Member |
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Executive Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
Reuters |
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Director |
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Executive Director, Director, Independent Director |
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Director |
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Director, Independent Director |
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Director, Independent Director |
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Board Member |
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Executives |
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President |
President |
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President of Accounting Management and Budget |
President |
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Acting President, Vice President of Business Development and Strategy |
President |
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President of Accounting |
President |
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President |
President |
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Managing Director-Catering |
Division Head Executive |
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Managing Director-Ground Support Equipment Services |
Division Head Executive |
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Managing Director of Engineering, Director |
Managing Director |
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Managing Director-Technical |
Managing Director |
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Managing Director of Organizational Finance |
Managing Director |
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Managing Director-Cargo & Mail
Commercial |
Managing Director |
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Managing Director-Ground Customer Services |
Managing Director |
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VP - Flight Operations |
Operations Executive |
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Executive Vice President Operations
Department |
Operations Executive |
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Vice President-Flight Operations |
Operations Executive |
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Executive Vice President-Operations |
Operations Executive |
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Vice President - Operations |
Operations Executive |
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Vice President-General Administration |
Administration Executive |
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Executive Vice President, Technical |
Administration Executive |
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Executive Vice President-Human Resources & General Management |
Administration Executive |
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Vice President-Internal Audit |
Finance Executive |
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Executive VP-Finance & Accounting |
Finance Executive |
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Vice President - Finance |
Finance Executive |
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Vice President-Financial Accounting |
Finance Executive |
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Vice President of Finance and Accounting |
Finance Executive |
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Vice President-Investor Relations |
Investment Executive |
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Vice President - Human Resources |
Human Resources Executive |
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Vice President-Personnel Development & Training |
Human Resources Executive |
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Vice President-Aviation Personnel Development |
Human Resources Executive |
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Vice President of Human Resources |
Human Resources Executive |
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Executive VP-Products & Customer Services |
Customer Service Executive |
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Vice President of Product and Customer Services |
Customer Service Executive |
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Vice President-Sales & Distribution |
Sales Executive |
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Vice President of Commerce |
E-Commerce Executive |
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Vice President-Market Planning & Revenue Management |
Marketing Executive |
|
|
|||||||||
|
Executive VP-Commercial Department |
Commercial Executive |
|
|
|||||||||
|
Senior Executive Vice President-Special Projects |
Planning Executive |
|
|
|||||||||
|
Vice President-VVIP, VIP Travel Planning & Coordination |
Planning Executive |
|
|
|||||||||
|
Secretary & VP-Legal & Compliance |
Legal Executive |
|
|
|||||||||
|
|
Other |
|
|
|||||||||
|
|||||||||||||
|
Vice President-Alliance & Royalty Management |
Other |
|
|
|||||||||
|
Vice President |
Other |
|
|
|||||||||
|
|||||||||||||
|
Vice President |
Other |
|
|
|||||||||
|
|||||||||||||
|
Director |
Other |
|
|
|||||||||
|
Vice President-In-Flight Services |
Other |
|
|
|||||||||
Significant Developments
Thai Airways International PCL Sacks President-Reuters May 21, 2012
Reuters reported that the board of Thai Airways International Pcl sacked its president because of disagreements over strategy, a move that could derail the flag carrier's attempts to return to profit and which is being questioned by its labour union. Piyasvasti Amranand, a former energy minister, became president in October 2009 when the opposition Democrat party was in power. He has shaken up the airline and launched cost-cutting measures, including reductions in the salaries of senior executives. Thai Airways is 51% owned by the Finance Ministry. Chokchai Panyayong, vice president in charge of strategy and business development, has been appointed acting president, the airline's chairman, Ampon Kittiampon, told reporters on Monday. "The board has agreed to terminate the president's contract because he cannot work in unity with the strategy committee," Ampon said. Jamsri Sukchotirat, chairwoman of the airline's labour union, said she would ask the board for an explanation. "The board has to clarify the decision because he met key performance targets, the airline's operations have improved and he has no problem working with employees," Jamsri said. Attempts to reach Piyasvasti for comment were unsuccessful.
Thai Airways International PCL's WingSpan Services Co., Ltd. Invests 49% In Tour Eurng Luang Co., Ltd. May 08, 2012
Thai Airways International PCL announced that WingSpan Services Co., Ltd., a subsidiary of the Company had invested 49% of ordinary shares in Tour Eurng Luang Co., Ltd, which is engaged in tourism services and related activities.
KI HOLDINGS CO, TD. Announces Lawsuit Mar 02, 2012
KI HOLDINGS CO, TD. announced that Thai Airways International Public Company Limited has filed a lawsuit against the Company on December 9, 2011, demanding the payment of USD 16,013,459.42 as damages and related interest, due to the delayed payment of airplane seats to Thai Airways International Public Company Limited.
Thai Airways International PCL Announces No FY 2011 Dividend Payment Feb 24, 2012
Thai Airways International PCL announced it will not pay a dividend for the fiscal year 2011. The Company paid a dividend of THB 1.25 per share for the fiscal year 2010.
Thai Airways International PCL Announces Debenture Offering Feb 16, 2012
Thai Airways International PCL announced that on April 28, 2010, the Company was approved the debenture issuance in the amount of not exceeding THB 40,000 million or equivalent within five years. The debenture issuance of THB 8,000 million and THB 2,000 million have been issued in May 2011 and December 2011. Currently, THAI Debentures No. 1/2555 of THB 3,000 million has been issued on February 16, 2012 with two tranches for Series 1 and Series 2. These name-registered, unsubordinated and unsecured debentures with par value of THB 1,000 per unit have been issued to institutional investors and high net worth investors. Their coupon rate are fixed 4.41% and fixed 4.75%, the tenors are seven years and ten years, the total size offering are THB 1,000 million and THB 2,000 million, and the maturity dates are February 16, 2019 and February 16, 2022 respectively. The issuer rating is A+ by TRIS Rating PCL on February 1, 2012. The underwriter is Bank of Ayudhya PCL and the registrar is TMB Bank PCL.
Thai Airways International PCL Announces Debenture Offering Dec 29, 2011
Thai Airways International PCL announced that on April 28, 2010, the Company had approved the issuance and offering of debentures in the amount of not exceeding THB 40,000 million within five years, of which THB 8,000 million was issued in May 2011. On December 28, 2011, the Company has issued Thai Debentures No. 2/2554 with the debenture types are name-registered and unsubordinated debentures, for 2.00 million units with par value and offer price of THB 1,000 per unit, or a total value of THB 2,000 million, have been issued to institutional investors and high net worth investors, with the five years tenor, fixed coupon 4.30% p.a., and with the issuer rating of A+ by TRIS Rating PCL on December 17, 2010. The maturity date will be on December 28, 2016 and the underwriter is Kasikornbank PCL.
Thai Airways International PCL Announces Result of Right Offering Nov 02, 2011
Thai Airways International PCL announced that due to the Company has offered the 904,853,240 shares to existing shareholders on October 17-21, 2011, with the offer price of THB 1.52 per share, or a total value of THB 1,375,376,925. As the result of the sales shares, the totally sold out is 437,496,468 shares, or a total value of THB 664,994,631.36. The 437,356,772 shares remaining will be offered to private placement.
Thai Airways International PCL Announces Further Acquisition in Nok Air Co Ltd Oct 17, 2011
Thai Airways International PCL announced that the Company will increase its stake from 39% to 49%, by acquiring a further 10% stake, or 5 million shares in Nok Air Co Ltd, from Krung Thai Bank PCL, worth THB 33 per share, or a total value of THB 165 million.
Thai Airways International PCL Announces Resignation Of Chairman Oct 11, 2011
Thai Airways International PCL announced the resignation of Mr. Pravich Rattanapian as Chairman of the Company effective October 7, 2011.
Thai Airways International PCL Jointly Sets up THAI Flight Training Co., Ltd. Aug 01, 2011
Thai Airways International PCL announced that it has invested THB 980,000 to set up THAI Flight Training Co., Ltd. which has registered capital of THB 2 million on July 29, 2011. The Company holds 49% ordinary shares of THAI Flight Training Co., Ltd., while its 49%-owned company, WingSpan Services Co., Ltd., holds cumulative preferred shares of 51% in the newly set up company. THAI Flight Training Co., Ltd. provides aviation training services.
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 |
3 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
Updated Special |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
6,265.3 |
5,692.4 |
4,707.1 |
5,997.3 |
1,561.8 |
|
Revenue |
6,265.3 |
5,692.4 |
4,707.1 |
5,997.3 |
1,561.8 |
|
Total Revenue |
6,265.3 |
5,692.4 |
4,707.1 |
5,997.3 |
1,561.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
4,036.2 |
3,133.1 |
2,585.6 |
4,064.2 |
920.6 |
|
Cost of Revenue, Total |
4,036.2 |
3,133.1 |
2,585.6 |
4,064.2 |
920.6 |
|
Gross Profit |
2,229.2 |
2,559.3 |
2,121.5 |
1,933.1 |
641.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
193.1 |
192.4 |
181.2 |
207.8 |
20.6 |
|
Labor & Related Expense |
1,017.2 |
1,088.3 |
764.7 |
917.9 |
272.6 |
|
Total Selling/General/Administrative Expenses |
1,210.3 |
1,280.7 |
945.9 |
1,125.6 |
293.2 |
|
Depreciation |
655.7 |
637.9 |
612.4 |
607.8 |
136.4 |
|
Depreciation/Amortization |
655.7 |
637.9 |
612.4 |
607.8 |
136.4 |
|
Investment Income -
Operating |
79.7 |
-287.0 |
-92.3 |
134.0 |
5.1 |
|
Interest/Investment Income - Operating |
79.7 |
-287.0 |
-92.3 |
134.0 |
5.1 |
|
Interest Expense (Income) - Net Operating Total |
79.7 |
-287.0 |
-92.3 |
134.0 |
5.1 |
|
Impairment-Assets Held for Use |
36.8 |
15.4 |
15.4 |
142.3 |
- |
|
Other Unusual Expense (Income) |
- |
- |
- |
128.6 |
- |
|
Unusual Expense (Income) |
36.8 |
15.4 |
15.4 |
270.9 |
- |
|
Other Operating Expense |
202.1 |
157.8 |
66.8 |
131.9 |
102.9 |
|
Other Operating Expenses, Total |
202.1 |
157.8 |
66.8 |
131.9 |
102.9 |
|
Total Operating Expense |
6,220.7 |
4,937.8 |
4,133.7 |
6,334.5 |
1,458.2 |
|
|
|
|
|
|
|
|
Operating Income |
44.6 |
754.6 |
573.4 |
-337.2 |
103.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-185.5 |
-162.8 |
-167.1 |
-164.4 |
-40.7 |
|
Interest Expense, Net Non-Operating |
-185.5 |
-162.8 |
-167.1 |
-164.4 |
-40.7 |
|
Interest Income -
Non-Operating |
23.3 |
5.8 |
5.2 |
14.8 |
7.0 |
|
Investment Income -
Non-Operating |
6.0 |
8.1 |
-0.2 |
-2.0 |
-0.4 |
|
Interest/Investment Income - Non-Operating |
29.3 |
14.0 |
4.9 |
12.8 |
6.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-156.2 |
-148.9 |
-162.2 |
-151.6 |
-34.2 |
|
Gain (Loss) on Sale of Assets |
0.3 |
3.0 |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
-148.5 |
-83.6 |
-175.1 |
-218.5 |
9.3 |
|
Other, Net |
-148.5 |
-83.6 |
-175.1 |
-218.5 |
9.3 |
|
Income Before Tax |
-259.7 |
525.1 |
236.1 |
-707.3 |
78.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
73.6 |
58.8 |
20.1 |
-68.5 |
24.5 |
|
Income After Tax |
-333.4 |
466.3 |
216.0 |
-638.8 |
54.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.1 |
-1.5 |
-2.1 |
-1.9 |
-0.5 |
|
Net Income Before Extraord Items |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
Net Income |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
2,182.8 |
1,830.1 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Basic EPS Excl Extraord Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Basic/Primary EPS Incl Extraord Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
Diluted Weighted Average Shares |
2,182.8 |
1,830.1 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Diluted EPS Excl Extraord Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Diluted EPS Incl Extraord Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Dividends per Share - Common Stock Primary Issue |
0.04 |
0.01 |
0.00 |
0.07 |
0.05 |
|
Gross Dividends - Common Stock |
89.5 |
15.2 |
0.0 |
24.7 |
89.3 |
|
Interest Expense, Supplemental |
185.5 |
162.8 |
167.1 |
164.4 |
40.7 |
|
Depreciation, Supplemental |
649.3 |
623.9 |
601.8 |
598.8 |
136.4 |
|
Total Special Items |
36.4 |
12.5 |
15.4 |
270.9 |
- |
|
Normalized Income Before Tax |
-223.3 |
537.5 |
251.6 |
-436.3 |
78.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
12.8 |
1.4 |
1.3 |
94.8 |
- |
|
Inc Tax Ex Impact of Sp Items |
86.4 |
60.2 |
21.5 |
26.3 |
24.5 |
|
Normalized Income After Tax |
-309.7 |
477.3 |
230.1 |
-462.7 |
54.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-310.8 |
475.8 |
228.0 |
-464.6 |
53.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.14 |
0.26 |
0.13 |
-0.27 |
0.03 |
|
Diluted Normalized EPS |
-0.14 |
0.26 |
0.13 |
-0.27 |
0.03 |
|
Amort of Intangibles, Supplemental |
9.2 |
- |
7.4 |
6.8 |
- |
|
Rental Expenses |
88.9 |
86.0 |
83.9 |
89.6 |
- |
|
Advertising Expense, Supplemental |
193.0 |
192.4 |
- |
- |
- |
|
Normalized EBIT |
161.0 |
483.0 |
496.5 |
67.7 |
108.7 |
|
Normalized EBITDA |
819.5 |
1,106.9 |
1,105.8 |
673.3 |
245.1 |
|
Current Tax - Domestic |
1.4 |
36.8 |
0.5 |
3.7 |
- |
|
Current Tax - Other |
-0.4 |
- |
- |
- |
- |
|
Current Tax - Total |
1.0 |
36.8 |
0.5 |
3.7 |
- |
|
Deferred Tax - Domestic |
-6.3 |
22.0 |
19.7 |
-72.2 |
- |
|
Deferred Tax - Other |
79.0 |
0.0 |
- |
- |
- |
|
Deferred Tax - Total |
72.7 |
22.0 |
19.7 |
-72.2 |
- |
|
Domestic Tax - Other |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Income Tax - Total |
73.6 |
58.8 |
20.1 |
-68.5 |
- |
|
Interest Cost - Domestic |
12.6 |
12.6 |
- |
- |
- |
|
Service Cost - Domestic |
16.0 |
14.8 |
- |
- |
- |
|
Actuarial Gains and Losses - Domestic |
29.6 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
58.2 |
27.3 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
37.9 |
- |
32.2 |
34.6 |
- |
|
Total Pension Expense |
96.2 |
27.3 |
32.2 |
34.6 |
- |
|
Discount Rate - Domestic |
4.20% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
7.00% |
- |
- |
- |
- |
|
Compensation Rate - Foreign |
5.00% |
- |
- |
- |
- |
|
Total Plan Interest Cost |
12.6 |
12.6 |
- |
- |
- |
|
Total Plan Service Cost |
16.0 |
14.8 |
- |
- |
- |
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 |
Restated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.55 |
30.145 |
33.34 |
34.78 |
33.685 |
|
Auditor |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
528.2 |
1,249.9 |
428.9 |
214.1 |
766.3 |
|
Cash & Equivalents |
- |
- |
- |
- |
135.5 |
|
Short Term Investments |
13.3 |
18.2 |
10.5 |
15.2 |
5.4 |
|
Cash and Short Term Investments |
541.5 |
1,268.2 |
439.4 |
229.3 |
907.2 |
|
Accounts Receivable -
Trade, Gross |
579.8 |
618.6 |
509.6 |
496.2 |
598.5 |
|
Provision for Doubtful
Accounts |
-52.1 |
-53.8 |
-50.4 |
-41.1 |
-41.0 |
|
Trade Accounts Receivable - Net |
527.7 |
564.8 |
459.1 |
455.1 |
557.5 |
|
Other Receivables |
10.3 |
8.8 |
6.6 |
7.1 |
45.1 |
|
Total Receivables, Net |
538.0 |
573.6 |
465.7 |
462.2 |
602.6 |
|
Inventories - Finished Goods |
6.7 |
6.3 |
5.5 |
6.9 |
5.9 |
|
Inventories - Raw Materials |
282.7 |
267.7 |
227.6 |
224.5 |
204.9 |
|
Inventories - Other |
-45.0 |
-42.9 |
-47.2 |
-36.5 |
-29.6 |
|
Total Inventory |
244.4 |
231.1 |
185.9 |
194.9 |
181.2 |
|
Prepaid Expenses |
331.8 |
301.4 |
133.8 |
135.3 |
144.0 |
|
Other Current Assets |
223.7 |
232.2 |
193.6 |
189.3 |
101.5 |
|
Other Current Assets, Total |
223.7 |
232.2 |
193.6 |
189.3 |
101.5 |
|
Total Current Assets |
1,879.4 |
2,606.6 |
1,418.4 |
1,211.1 |
1,936.5 |
|
|
|
|
|
|
|
|
Buildings |
489.2 |
512.2 |
- |
- |
- |
|
Land/Improvements |
109.8 |
114.9 |
565.7 |
539.6 |
565.1 |
|
Machinery/Equipment |
12,322.7 |
12,602.5 |
11,203.4 |
10,307.0 |
10,046.7 |
|
Construction in
Progress |
90.0 |
10.3 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
13,011.6 |
13,239.8 |
11,769.2 |
10,846.6 |
10,611.8 |
|
Accumulated Depreciation |
-6,514.1 |
-6,402.2 |
-5,365.3 |
-4,893.1 |
-4,462.1 |
|
Property/Plant/Equipment - Net |
6,497.5 |
6,837.6 |
6,403.9 |
5,953.5 |
6,149.7 |
|
Intangibles - Gross |
58.8 |
49.9 |
39.2 |
34.8 |
31.9 |
|
Accumulated Intangible Amortization |
-39.0 |
-31.5 |
-19.7 |
-11.6 |
-5.2 |
|
Intangibles, Net |
19.8 |
18.3 |
19.6 |
23.2 |
26.7 |
|
LT Investment - Affiliate Companies |
51.7 |
46.5 |
37.2 |
38.4 |
43.6 |
|
LT Investments - Other |
5.7 |
2.6 |
29.1 |
2.5 |
3.1 |
|
Long Term Investments |
57.3 |
49.1 |
66.3 |
41.0 |
46.7 |
|
Deferred Charges |
64.4 |
63.7 |
- |
- |
40.8 |
|
Deferred Income Tax - Long Term Asset |
171.5 |
251.1 |
171.9 |
184.2 |
118.0 |
|
Other Long Term Assets |
9.0 |
11.4 |
69.2 |
49.2 |
2.1 |
|
Other Long Term Assets, Total |
244.8 |
326.1 |
241.1 |
233.4 |
160.9 |
|
Total Assets |
8,698.7 |
9,837.7 |
8,149.2 |
7,462.2 |
8,320.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
233.4 |
213.6 |
197.5 |
189.0 |
298.8 |
|
Accrued Expenses |
442.4 |
626.9 |
408.8 |
453.1 |
515.5 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
33.5 |
617.8 |
147.3 |
|
Current Portion - Long Term Debt/Capital Leases |
598.2 |
768.1 |
764.6 |
554.2 |
723.2 |
|
Dividends Payable |
1.6 |
2.4 |
2.1 |
2.0 |
92.6 |
|
Customer Advances |
784.9 |
873.0 |
807.7 |
870.1 |
964.3 |
|
Income Taxes Payable |
22.6 |
26.5 |
1.0 |
1.0 |
26.1 |
|
Other Payables |
67.4 |
73.7 |
- |
- |
- |
|
Other Current Liabilities |
89.6 |
94.0 |
197.9 |
147.2 |
128.2 |
|
Other Current liabilities, Total |
966.1 |
1,069.6 |
1,008.7 |
1,020.4 |
1,211.2 |
|
Total Current Liabilities |
2,240.1 |
2,678.2 |
2,413.1 |
2,834.5 |
2,896.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
2,397.3 |
2,268.8 |
1,841.1 |
1,181.2 |
1,162.4 |
|
Capital Lease Obligations |
1,514.8 |
1,815.6 |
2,040.4 |
1,878.5 |
2,095.1 |
|
Total Long Term Debt |
3,912.1 |
4,084.4 |
3,881.5 |
3,059.7 |
3,257.5 |
|
Total Debt |
4,510.3 |
4,852.5 |
4,679.5 |
4,231.8 |
4,127.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.8 |
0.0 |
- |
- |
- |
|
Deferred Income Tax |
1.8 |
0.0 |
- |
- |
- |
|
Minority Interest |
8.4 |
9.6 |
8.9 |
8.0 |
8.2 |
|
Reserves |
48.4 |
84.8 |
116.4 |
111.4 |
- |
|
Pension Benefits - Underfunded |
481.5 |
454.4 |
141.2 |
137.4 |
147.6 |
|
Other Long Term Liabilities |
4.2 |
2.0 |
0.0 |
0.0 |
- |
|
Other Liabilities, Total |
534.1 |
541.2 |
257.6 |
248.8 |
147.6 |
|
Total Liabilities |
6,696.5 |
7,313.5 |
6,561.1 |
6,151.0 |
6,309.2 |
|
|
|
|
|
|
|
|
Common Stock |
691.8 |
724.1 |
509.6 |
488.5 |
504.3 |
|
Common Stock |
691.8 |
724.1 |
509.6 |
488.5 |
504.3 |
|
Additional Paid-In Capital |
809.8 |
847.5 |
469.0 |
449.6 |
464.2 |
|
Retained Earnings (Accumulated Deficit) |
500.6 |
952.7 |
609.5 |
373.1 |
1,042.7 |
|
Unrealized Gain (Loss) |
- |
- |
- |
0.0 |
0.0 |
|
Total Equity |
2,002.2 |
2,524.3 |
1,588.1 |
1,311.2 |
2,011.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
8,698.7 |
9,837.7 |
8,149.2 |
7,462.2 |
8,320.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
2,182.8 |
2,182.8 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Total Common Shares Outstanding |
2,182.8 |
2,182.8 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Employees |
25,848 |
25,884 |
27,002 |
- |
27,285 |
|
Accumulated Intangible Amort, Suppl. |
39.0 |
31.5 |
19.7 |
11.6 |
5.2 |
|
Deferred Revenue - Current |
818.0 |
838.4 |
807.7 |
870.1 |
964.3 |
|
Total Long Term Debt, Supplemental |
- |
- |
764.6 |
- |
723.1 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
764.6 |
- |
723.1 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
0.0 |
- |
0.0 |
|
Total Operating Leases, Supplemental |
5,098.7 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 1 |
131.4 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 2 |
295.2 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 3 |
295.2 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 4 |
295.2 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 5 |
295.2 |
- |
- |
- |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
590.4 |
- |
- |
- |
- |
|
Operating Lease Pymts. Due in 4-5 Years |
590.4 |
- |
- |
- |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
3,786.5 |
- |
- |
- |
- |
|
Discount Rate - Domestic |
4.20% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
7.00% |
- |
- |
- |
- |
|
Compensation Rate - Foreign |
5.00% |
- |
- |
- |
- |
|
Accrued Liabilities - Domestic |
-481.5 |
-454.4 |
-141.2 |
-137.4 |
-147.6 |
|
Net Assets Recognized on Balance Sheet |
-481.5 |
-454.4 |
-141.2 |
-137.4 |
-147.6 |
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 |
Updated Normal |
Restated 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 |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-259.7 |
525.1 |
236.1 |
-707.3 |
185.1 |
|
Depreciation |
655.7 |
637.9 |
612.4 |
607.8 |
532.6 |
|
Depreciation/Depletion |
655.7 |
637.9 |
612.4 |
607.8 |
532.6 |
|
Deferred Taxes |
1.3 |
0.0 |
0.0 |
-0.6 |
0.0 |
|
Unusual Items |
36.4 |
17.1 |
8.6 |
131.1 |
8.9 |
|
Equity in Net Earnings (Loss) |
-6.0 |
-8.1 |
0.2 |
2.0 |
-3.0 |
|
Other Non-Cash Items |
243.4 |
-85.3 |
79.0 |
278.5 |
166.2 |
|
Non-Cash Items |
273.8 |
-76.3 |
87.9 |
411.6 |
172.1 |
|
Accounts Receivable |
21.4 |
-58.8 |
22.1 |
114.7 |
-43.0 |
|
Inventories |
-30.9 |
-24.1 |
14.1 |
-23.5 |
-29.3 |
|
Prepaid Expenses |
-28.2 |
-152.9 |
3.2 |
10.2 |
-7.3 |
|
Other Assets |
5.4 |
6.4 |
-27.1 |
40.7 |
-33.8 |
|
Accounts Payable |
-91.0 |
-4.3 |
0.7 |
-81.1 |
91.1 |
|
Accrued Expenses |
-160.4 |
160.2 |
-22.1 |
-42.5 |
33.0 |
|
Other Liabilities |
-77.3 |
-83.5 |
-88.6 |
44.5 |
222.8 |
|
Other Operating Cash Flow |
-9.3 |
-38.5 |
-7.8 |
-34.8 |
-108.1 |
|
Changes in Working Capital |
-370.3 |
-195.6 |
-105.6 |
28.2 |
125.5 |
|
Cash from Operating Activities |
300.7 |
891.0 |
830.8 |
339.7 |
1,015.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-404.7 |
-302.0 |
-478.5 |
-641.4 |
-349.9 |
|
Purchase/Acquisition of Intangibles |
-9.6 |
-3.3 |
-2.9 |
-4.1 |
-17.2 |
|
Capital Expenditures |
-414.2 |
-305.2 |
-481.4 |
-645.5 |
-367.1 |
|
Sale of Fixed Assets |
28.5 |
21.9 |
45.2 |
30.5 |
70.3 |
|
Sale/Maturity of Investment |
4.4 |
0.0 |
5.2 |
- |
2.5 |
|
Purchase of Investments |
-8.6 |
-6.3 |
0.0 |
-9.8 |
-2.2 |
|
Other Investing Cash Flow |
28.1 |
10.0 |
9.4 |
16.1 |
24.9 |
|
Other Investing Cash Flow Items, Total |
52.4 |
25.6 |
59.8 |
36.9 |
95.4 |
|
Cash from Investing Activities |
-361.8 |
-279.7 |
-421.5 |
-608.6 |
-271.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-191.2 |
134.7 |
-159.8 |
-170.2 |
-88.6 |
|
Financing Cash Flow Items |
-191.2 |
134.7 |
-159.8 |
-170.2 |
-88.6 |
|
Cash Dividends Paid - Common |
-90.1 |
-13.3 |
0.0 |
-114.3 |
-83.1 |
|
Total Cash Dividends Paid |
-90.1 |
-13.3 |
0.0 |
-114.3 |
-83.1 |
|
Sale/Issuance of
Common |
0.0 |
152.5 |
0.0 |
0.0 |
0.0 |
|
Common Stock, Net |
0.0 |
152.5 |
0.0 |
0.0 |
0.0 |
|
Sale/Issuance of Common/Preferred |
0.0 |
0.0 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
152.6 |
0.0 |
0.0 |
0.0 |
|
Short Term Debt Issued |
- |
- |
- |
496.9 |
137.3 |
|
Short Term Debt
Reduction |
0.0 |
-35.2 |
-592.0 |
0.0 |
-375.0 |
|
Short Term Debt, Net |
0.0 |
-35.2 |
-592.0 |
496.9 |
-237.7 |
|
Long Term Debt Issued |
616.7 |
692.4 |
1,137.0 |
345.5 |
320.4 |
|
Long Term Debt
Reduction |
-966.5 |
-805.7 |
-591.6 |
-836.1 |
-269.1 |
|
Long Term Debt, Net |
-349.8 |
-113.3 |
545.4 |
-490.6 |
51.3 |
|
Issuance (Retirement) of Debt, Net |
-349.8 |
-148.5 |
-46.6 |
6.3 |
-186.4 |
|
Cash from Financing Activities |
-631.1 |
125.4 |
-206.4 |
-278.2 |
-358.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
0.2 |
-3.3 |
-1.8 |
7.0 |
|
Net Change in Cash |
-689.3 |
737.0 |
199.6 |
-548.9 |
392.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,236.0 |
450.7 |
216.9 |
772.0 |
361.1 |
|
Net Cash - Ending Balance |
546.7 |
1,187.7 |
416.5 |
223.1 |
753.6 |
|
Cash Interest Paid |
189.3 |
175.9 |
158.2 |
162.8 |
88.4 |
|
Cash Taxes Paid |
9.3 |
38.5 |
7.8 |
8.1 |
108.1 |
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 |
3 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
Updated Special |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of DIA
International Auditing |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Passenger/Excess Bag |
5,072.9 |
4,566.2 |
3,917.1 |
4,924.5 |
1,279.8 |
|
Freight |
893.7 |
863.4 |
539.6 |
774.4 |
210.1 |
|
Mail |
27.8 |
26.4 |
24.0 |
27.4 |
7.9 |
|
Other Activities |
270.9 |
236.3 |
226.5 |
271.1 |
64.0 |
|
Total Revenue |
6,265.3 |
5,692.4 |
4,707.1 |
5,997.3 |
1,561.8 |
|
|
|
|
|
|
|
|
Employee benefits expenses |
1,017.2 |
1,088.3 |
- |
- |
- |
|
Fuel and Oil |
2,505.8 |
1,781.5 |
1,369.4 |
2,681.0 |
538.0 |
|
Personnal Expense |
- |
- |
762.9 |
915.1 |
272.1 |
|
Rumeneration |
- |
- |
1.8 |
2.8 |
0.5 |
|
Flight Operations |
670.1 |
600.9 |
515.3 |
597.5 |
313.0 |
|
Maintenance |
383.7 |
305.0 |
300.6 |
325.1 |
- |
|
Depreciation |
655.7 |
637.9 |
612.4 |
607.8 |
136.4 |
|
Lease |
178.1 |
136.5 |
44.6 |
109.4 |
47.4 |
|
Cost Inventories and Supplies |
296.6 |
285.1 |
247.5 |
264.5 |
69.6 |
|
Marketing |
193.1 |
192.4 |
181.2 |
207.8 |
20.6 |
|
Impairment loss of aircraft |
5.9 |
5.4 |
- |
- |
- |
|
Insurance Expenses |
24.0 |
21.3 |
22.1 |
22.5 |
6.6 |
|
Impairment loss of assets |
30.8 |
10.0 |
15.4 |
142.3 |
- |
|
Foreign Currency Adj |
79.7 |
-287.0 |
-92.3 |
134.0 |
5.1 |
|
Crew Expenses |
179.9 |
160.5 |
152.7 |
196.1 |
- |
|
Other expenses |
- |
- |
- |
- |
48.9 |
|
Provision for Loss from unfair trade Law |
- |
- |
- |
128.6 |
- |
|
Total Operating Expense |
6,220.7 |
4,937.8 |
4,133.7 |
6,334.5 |
1,458.2 |
|
|
|
|
|
|
|
|
Loss on debentures redemption |
0.0 |
0.0 |
- |
- |
- |
|
Interest Income |
23.3 |
5.8 |
5.2 |
14.8 |
7.0 |
|
Gain on Sale of Assets |
0.3 |
3.0 |
- |
- |
- |
|
Other Income |
86.1 |
107.3 |
61.0 |
59.8 |
16.9 |
|
Yield From Pension |
- |
- |
- |
- |
-0.7 |
|
Other Expenses |
-234.5 |
-190.9 |
-236.0 |
-278.3 |
-6.9 |
|
Share of loss/profit of inv't-equity |
6.0 |
8.1 |
-0.2 |
-2.0 |
-0.4 |
|
Interest Expenses |
-185.5 |
-162.8 |
-167.1 |
-164.4 |
-40.7 |
|
Rounding Adjustment |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
-259.7 |
525.1 |
236.1 |
-707.3 |
78.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
73.6 |
58.8 |
20.1 |
-68.5 |
24.5 |
|
Net Income After Taxes |
-333.4 |
466.3 |
216.0 |
-638.8 |
54.2 |
|
|
|
|
|
|
|
|
Non-controlling interests Total Compre |
-1.1 |
-1.5 |
-2.1 |
-1.9 |
-0.5 |
|
Net Income Before Extra. Items |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
Net Income |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
2,182.8 |
1,830.1 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Basic EPS Including ExtraOrdinary Item |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
Diluted Weighted Average Shares |
2,182.8 |
1,830.1 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Diluted EPS Including ExtraOrd Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
DPS-Common Stock |
0.04 |
0.01 |
0.00 |
0.07 |
0.05 |
|
Gross Dividends - Common Stock |
89.5 |
15.2 |
0.0 |
24.7 |
89.3 |
|
Normalized Income Before Taxes |
-223.3 |
537.5 |
251.6 |
-436.3 |
78.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
86.4 |
60.2 |
21.5 |
26.3 |
24.5 |
|
Normalized Income After Taxes |
-309.7 |
477.3 |
230.1 |
-462.7 |
54.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-310.8 |
475.8 |
228.0 |
-464.6 |
53.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.14 |
0.26 |
0.13 |
-0.27 |
0.03 |
|
Diluted Normalized EPS |
-0.14 |
0.26 |
0.13 |
-0.27 |
0.03 |
|
Interest Expense |
185.5 |
162.8 |
167.1 |
164.4 |
40.7 |
|
Amort of Intangibles |
9.2 |
- |
7.4 |
6.8 |
- |
|
Depreciation |
649.3 |
623.9 |
601.8 |
598.8 |
136.4 |
|
Rental Expense |
88.9 |
86.0 |
83.9 |
89.6 |
- |
|
Advertising Expense, Supplemental |
193.0 |
192.4 |
- |
- |
- |
|
Current Tax |
1.4 |
36.8 |
0.5 |
3.7 |
- |
|
Prior Year Domestic Tax |
-0.4 |
- |
- |
- |
- |
|
Current Tax - Total |
1.0 |
36.8 |
0.5 |
3.7 |
- |
|
Effect of Exchange Rate |
79.0 |
0.0 |
- |
- |
- |
|
Defered Tax |
-6.3 |
22.0 |
19.7 |
-72.2 |
- |
|
Deferred Tax - Total |
72.7 |
22.0 |
19.7 |
-72.2 |
- |
|
Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Income Tax - Total |
73.6 |
58.8 |
20.1 |
-68.5 |
- |
|
Service Cost - Domestic |
16.0 |
14.8 |
- |
- |
- |
|
Interest Cost - Domestic |
12.6 |
12.6 |
- |
- |
- |
|
Actuarial Gains and Losses - Domestic |
29.6 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
58.2 |
27.3 |
- |
- |
- |
|
Provident Fund |
37.9 |
- |
32.2 |
34.6 |
- |
|
Total Pension Expense |
96.2 |
27.3 |
32.2 |
34.6 |
- |
|
Discount Rate - Domestic |
4.20% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
7.00% |
- |
- |
- |
- |
|
Compensation Rate - Foreign |
5.00% |
- |
- |
- |
- |
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 |
Restated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.55 |
30.145 |
33.34 |
34.78 |
33.685 |
|
Auditor |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of DIA
International Auditing |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash on Hand/ At Banks |
528.2 |
1,249.9 |
428.9 |
214.1 |
766.3 |
|
ST Investments |
13.3 |
18.2 |
10.5 |
15.2 |
5.4 |
|
Cash and Fixed Deposit for Pension Fund |
- |
- |
- |
- |
135.5 |
|
Accounts Rec.,gross |
579.8 |
618.6 |
509.6 |
496.2 |
598.5 |
|
Provision for Doubtful Accounts |
-52.1 |
-53.8 |
-50.4 |
-41.1 |
-41.0 |
|
Spare Parts |
184.7 |
208.5 |
165.8 |
150.0 |
133.2 |
|
Veh. Spare Parts |
9.0 |
8.6 |
8.3 |
7.9 |
7.3 |
|
Unused Parts |
83.2 |
43.2 |
43.5 |
56.8 |
55.6 |
|
Fuel and Oil |
18.0 |
16.1 |
6.0 |
7.2 |
31.1 |
|
Goods for Sale |
6.7 |
6.3 |
5.5 |
6.9 |
5.9 |
|
Cabin Supplies |
5.2 |
6.7 |
9.3 |
9.0 |
8.2 |
|
Supplies and other consumables |
0.6 |
0.7 |
0.6 |
0.7 |
0.6 |
|
Stationary |
2.7 |
3.1 |
3.2 |
3.2 |
3.1 |
|
Inv. in Transit |
1.7 |
1.6 |
2.0 |
21.5 |
3.9 |
|
Damaged Inv. |
0.4 |
0.8 |
1.1 |
0.7 |
0.5 |
|
Provision for Obsolete Inventories |
-64.2 |
-64.5 |
-59.5 |
-69.2 |
-68.2 |
|
Provision for Damaages from Flood |
-3.6 |
0.0 |
- |
- |
- |
|
Prepaid Expenses |
331.8 |
301.4 |
133.8 |
135.3 |
144.0 |
|
Tax Refund |
10.3 |
8.8 |
6.6 |
7.1 |
45.1 |
|
Other current assets |
215.4 |
223.1 |
193.6 |
189.3 |
101.5 |
|
Non-Current Asset Classified as HFS |
8.3 |
9.1 |
- |
- |
- |
|
Rounding Adjustment |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Total Current Assets |
1,879.4 |
2,606.6 |
1,418.4 |
1,211.1 |
1,936.5 |
|
|
|
|
|
|
|
|
Investment in Co |
51.7 |
46.5 |
37.2 |
38.4 |
43.6 |
|
Other Investment |
5.7 |
2.6 |
2.6 |
2.5 |
3.1 |
|
Prepaid Aircraft and Engines |
674.5 |
596.5 |
- |
- |
- |
|
Aircraft |
4,550.9 |
4,691.9 |
4,244.5 |
4,507.0 |
4,137.2 |
|
Aircraft Lease |
5,240.0 |
5,421.8 |
5,138.4 |
4,108.6 |
4,226.3 |
|
Spare Parts |
922.2 |
919.5 |
932.8 |
842.4 |
839.0 |
|
Work in Progress |
90.0 |
10.3 |
- |
- |
- |
|
Land/Building |
109.8 |
114.9 |
565.7 |
539.6 |
565.1 |
|
Building Lease |
342.1 |
357.7 |
- |
- |
- |
|
Building Imp. |
147.1 |
154.5 |
- |
- |
- |
|
Other Plant |
935.1 |
972.7 |
887.7 |
849.0 |
844.2 |
|
Depreciation |
-6,514.1 |
-6,255.4 |
-5,365.3 |
-4,765.8 |
-4,462.1 |
|
Impairment |
- |
-146.8 |
- |
-127.2 |
- |
|
Intangible |
58.8 |
49.9 |
39.2 |
34.8 |
31.9 |
|
Accumulated Amortization of Intangible |
-39.0 |
-31.5 |
-19.7 |
-11.6 |
-5.2 |
|
Assets held fr. Sale |
- |
- |
26.5 |
0.0 |
- |
|
Deferred Tax Assets |
171.5 |
251.1 |
171.9 |
184.2 |
118.0 |
|
Deferred Charges |
64.4 |
63.7 |
- |
- |
40.8 |
|
Other non-current assets |
9.0 |
11.4 |
69.2 |
49.2 |
2.1 |
|
Rounding Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Assets |
8,698.7 |
9,837.7 |
8,149.2 |
7,462.2 |
8,320.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
233.4 |
213.6 |
197.5 |
189.0 |
298.8 |
|
Debenture |
148.0 |
381.1 |
328.6 |
215.6 |
341.4 |
|
LT Loans-Related |
65.7 |
68.7 |
62.1 |
16.4 |
80.1 |
|
LT Loans-Others |
64.3 |
0.0 |
12.0 |
0.0 |
- |
|
Capital Lease |
320.2 |
318.3 |
339.3 |
291.9 |
270.5 |
|
Promissory Notes |
- |
- |
15.0 |
18.7 |
31.2 |
|
Promissory Notes-Others |
- |
- |
7.5 |
11.5 |
- |
|
Bank Overdrafts/ST. Loans |
- |
- |
0.0 |
486.8 |
- |
|
Loans |
- |
- |
- |
- |
147.3 |
|
ST. Loans-Related |
- |
- |
33.5 |
131.1 |
- |
|
Provision for Contingent Liabilities |
- |
- |
13.7 |
13.2 |
- |
|
Accrued Expenses |
442.4 |
626.9 |
408.8 |
453.1 |
515.5 |
|
Accrued Dividend |
1.6 |
2.4 |
2.1 |
2.0 |
92.6 |
|
Income Tax Payable |
0.5 |
0.5 |
1.0 |
1.0 |
26.1 |
|
Unearned Revenue |
784.8 |
856.0 |
748.4 |
870.1 |
964.3 |
|
Deferred Income |
0.0 |
16.9 |
59.4 |
0.0 |
- |
|
Deferred Revenue |
0.1 |
0.1 |
- |
- |
- |
|
Taxes Payable |
22.1 |
26.0 |
- |
- |
- |
|
Other Account Payable |
67.4 |
73.7 |
- |
- |
- |
|
Other Liabilities |
89.6 |
94.0 |
184.2 |
134.1 |
128.2 |
|
Rounding Adjustment |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Liabilities |
2,240.1 |
2,678.2 |
2,413.1 |
2,834.5 |
2,896.0 |
|
|
|
|
|
|
|
|
Debentures |
733.0 |
592.0 |
879.9 |
1,020.7 |
1,068.7 |
|
Loans |
165.9 |
240.4 |
283.3 |
138.9 |
40.2 |
|
LT. Loans fr. Others |
1,498.3 |
1,436.4 |
677.9 |
0.0 |
- |
|
Lease |
1,514.8 |
1,815.6 |
2,040.4 |
1,878.5 |
2,095.1 |
|
Promissory Notes |
- |
- |
- |
- |
53.4 |
|
Promissory Notes-Related |
- |
- |
- |
14.4 |
- |
|
Promissory Notes-Others |
- |
- |
- |
7.2 |
- |
|
Total Long Term Debt |
3,912.1 |
4,084.4 |
3,881.5 |
3,059.7 |
3,257.5 |
|
|
|
|
|
|
|
|
Deferred tax liabilities |
1.8 |
0.0 |
- |
- |
- |
|
Employee benefits obligation |
337.0 |
309.4 |
- |
- |
- |
|
Staff pension fund |
144.6 |
145.0 |
141.2 |
137.4 |
147.6 |
|
Provision for LT. Contingent Liabilities |
48.4 |
84.8 |
116.4 |
111.4 |
- |
|
Others |
4.2 |
2.0 |
0.0 |
0.0 |
- |
|
Non-controlling Interests |
8.4 |
9.6 |
8.9 |
8.0 |
8.2 |
|
Total Liabilities |
6,696.5 |
7,313.5 |
6,561.1 |
6,151.0 |
6,309.2 |
|
|
|
|
|
|
|
|
Share Capital |
691.8 |
724.1 |
509.6 |
488.5 |
504.3 |
|
Share Premium |
809.8 |
847.5 |
469.0 |
449.6 |
464.2 |
|
Unrealised Gain |
- |
- |
- |
0.0 |
0.0 |
|
Legal Reserve |
78.3 |
81.9 |
51.0 |
48.9 |
50.5 |
|
Retained Earning-Unappropriated |
422.3 |
870.7 |
558.5 |
324.2 |
992.2 |
|
Total Equity |
2,002.2 |
2,524.3 |
1,588.1 |
1,311.2 |
2,011.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
8,698.7 |
9,837.7 |
8,149.2 |
7,462.2 |
8,320.5 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
2,182.8 |
2,182.8 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Total Common Shares Outstanding |
2,182.8 |
2,182.8 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Deferred Income |
0.0 |
16.9 |
59.4 |
0.0 |
- |
|
Deferred Revenue |
0.1 |
0.1 |
- |
- |
- |
|
Unearned Revenue |
817.9 |
821.4 |
748.4 |
870.1 |
964.3 |
|
Accumulated Amortiation of Intangible |
39.0 |
31.5 |
19.7 |
11.6 |
5.2 |
|
Full-Time Employees |
25,848 |
25,884 |
27,002 |
- |
27,285 |
|
Current maturities |
- |
- |
764.6 |
- |
723.1 |
|
Total Long Term Debt, Supplemental |
- |
- |
764.6 |
- |
723.1 |
|
Operating Lease Pymts. Due within 1Year |
131.4 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 5 |
1,180.8 |
- |
- |
- |
- |
|
Operating Lease Pymts. - Remaining |
3,786.5 |
- |
- |
- |
- |
|
Total Operating Leases |
5,098.7 |
- |
- |
- |
- |
|
Discount Rate - Domestic |
4.20% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
7.00% |
- |
- |
- |
- |
|
Compensation Rate - Foreign |
5.00% |
- |
- |
- |
- |
|
Employee Benefit Obligations |
-337.0 |
-309.4 |
- |
- |
- |
|
Pension Fund Contribution |
-144.6 |
-145.0 |
-141.2 |
-137.4 |
-147.6 |
|
Net Assets Recognized on Balance Sheet |
-481.5 |
-454.4 |
-141.2 |
-137.4 |
-147.6 |
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 |
Updated Normal |
Restated 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 |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of DIA
International Auditing |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
-259.7 |
525.1 |
236.1 |
-707.3 |
185.1 |
|
Depreciation |
655.7 |
637.9 |
612.4 |
607.8 |
532.6 |
|
Dividend Income |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Joint Ventures |
-6.0 |
-8.1 |
0.2 |
2.0 |
-3.0 |
|
Interest Income |
-23.3 |
-5.8 |
-5.2 |
-14.8 |
-21.8 |
|
Interest Expense |
185.5 |
162.8 |
167.1 |
164.4 |
143.8 |
|
Sale of Assets |
-0.3 |
-3.0 |
-6.8 |
-11.2 |
-25.9 |
|
Loss on Disposal of Aircraft |
0.0 |
4.7 |
0.0 |
- |
- |
|
Gain on Sale of Marketable Securities |
- |
- |
- |
-0.1 |
-0.1 |
|
Amort. of Expenses |
-13.4 |
-8.2 |
-18.4 |
-10.1 |
0.0 |
|
Provision for Contingent Liabilities |
0.0 |
0.1 |
0.0 |
- |
- |
|
Employee benefits obligation |
42.8 |
27.3 |
- |
- |
- |
|
Foreign Currency Ex. |
46.9 |
-259.5 |
-74.8 |
134.5 |
39.7 |
|
Reserve for Obsolated Goods |
2.9 |
-0.2 |
2.8 |
3.2 |
1.1 |
|
Allow./Doubtful A/C |
1.8 |
-1.8 |
7.4 |
1.3 |
3.2 |
|
Impairment loss of aircrafts |
5.9 |
5.4 |
0.0 |
132.6 |
0.0 |
|
Impairment loss of assets |
30.8 |
10.0 |
15.4 |
9.7 |
34.9 |
|
Accounts Receivables |
15.1 |
-58.6 |
13.9 |
69.8 |
-10.4 |
|
Inventories |
-30.9 |
-24.1 |
14.1 |
-23.5 |
-29.3 |
|
Prepaid Expenses |
-28.2 |
-152.9 |
3.2 |
10.2 |
-7.3 |
|
Tax Refund |
6.3 |
-0.2 |
8.1 |
44.9 |
-32.6 |
|
Other Current Assets |
3.6 |
-10.4 |
3.6 |
42.3 |
-31.7 |
|
Deferred Income Tax |
1.3 |
0.0 |
0.0 |
-0.6 |
0.0 |
|
Assets for Sales |
0.1 |
16.0 |
-25.7 |
- |
- |
|
Other Asset |
1.7 |
0.8 |
-5.0 |
-1.6 |
-2.0 |
|
Acconts Payable |
-91.0 |
-4.3 |
0.7 |
-81.1 |
91.1 |
|
Accrued Expenses |
-160.4 |
160.2 |
-22.1 |
-42.5 |
33.0 |
|
Deferred Income |
-16.7 |
-46.1 |
57.7 |
- |
- |
|
Staff Pension |
6.2 |
-10.6 |
-2.0 |
-5.8 |
9.9 |
|
Unearned Revenue |
-30.4 |
14.9 |
-144.4 |
-65.8 |
212.9 |
|
Provision for LT. Contingent Liabilities |
-36.4 |
-41.8 |
0.2 |
116.1 |
0.0 |
|
Payment of income tax |
-9.3 |
-38.5 |
-7.8 |
-34.8 |
-108.1 |
|
Cash from Operating Activities |
300.7 |
891.0 |
830.8 |
339.7 |
1,015.3 |
|
|
|
|
|
|
|
|
Concessions for Acq. |
2.3 |
1.9 |
- |
- |
- |
|
Capital Expenditure |
-404.7 |
-302.0 |
-478.5 |
-641.4 |
-349.9 |
|
Purchase of Intangible |
-9.6 |
-3.3 |
-2.9 |
-4.1 |
-17.2 |
|
Received-Transfer of right of Aircraft |
19.2 |
10.1 |
37.8 |
9.5 |
14.5 |
|
Sales of Fixed Assets |
9.4 |
11.8 |
7.4 |
21.0 |
55.7 |
|
Interest Received |
21.8 |
5.0 |
6.9 |
14.1 |
20.5 |
|
Dividends Received |
3.9 |
3.1 |
2.6 |
2.0 |
4.3 |
|
Investment Decrease |
- |
0.0 |
- |
- |
2.5 |
|
Investment Increase |
-8.6 |
- |
0.0 |
0.0 |
- |
|
Received fr. Current Invest. Secs. |
4.4 |
- |
5.2 |
- |
- |
|
Received fr. Current Invest. Secs. |
- |
-6.3 |
- |
-9.8 |
-2.2 |
|
Cash from Investing Activities |
-361.8 |
-279.7 |
-421.5 |
-608.6 |
-271.7 |
|
|
|
|
|
|
|
|
Cash Rec. from Debenture |
328.0 |
0.0 |
139.5 |
209.8 |
219.0 |
|
Short Term Loan |
- |
- |
- |
496.9 |
137.3 |
|
Received LT Loans |
288.7 |
692.4 |
997.4 |
135.7 |
101.5 |
|
Cash Rec. Issued Ordinary Share |
0.0 |
152.5 |
0.0 |
0.0 |
0.0 |
|
Receipt from Issued Preferred Shares |
0.0 |
0.0 |
- |
- |
- |
|
Cash Rec. From Premium on Ordinary Share |
0.0 |
312.4 |
0.0 |
0.0 |
-0.2 |
|
Repayment ST Loan |
0.0 |
-35.2 |
-592.0 |
0.0 |
-375.0 |
|
Cash Payment. for Debenture |
-378.5 |
-345.3 |
-218.5 |
-344.6 |
0.0 |
|
Repayment to LT Loan |
-588.0 |
-436.7 |
-342.5 |
-460.0 |
-238.4 |
|
Promissory Notes |
0.0 |
-23.6 |
-30.6 |
-31.5 |
-30.7 |
|
Cash paid for loan interest |
-189.3 |
-175.9 |
-158.2 |
-168.4 |
-88.4 |
|
Dividend Paid |
-90.1 |
-13.3 |
0.0 |
-114.3 |
-83.1 |
|
Dividend Paid to Minority Interest |
-1.9 |
-1.8 |
-1.6 |
-1.8 |
- |
|
Cash from Financing Activities |
-631.1 |
125.4 |
-206.4 |
-278.2 |
-358.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
0.2 |
-3.3 |
-1.8 |
7.0 |
|
Net Change in Cash |
-689.3 |
737.0 |
199.6 |
-548.9 |
392.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,236.0 |
450.7 |
216.9 |
772.0 |
361.1 |
|
Net Cash - Ending Balance |
546.7 |
1,187.7 |
416.5 |
223.1 |
753.6 |
|
Cash Interest Paid |
189.3 |
175.9 |
158.2 |
162.8 |
88.4 |
|
Cash Taxes Paid |
9.3 |
38.5 |
7.8 |
8.1 |
108.1 |
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 |
3 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
Updated Special |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
6,265.3 |
5,692.4 |
4,707.1 |
5,997.3 |
1,561.8 |
|
Revenue |
6,265.3 |
5,692.4 |
4,707.1 |
5,997.3 |
1,561.8 |
|
Total Revenue |
6,265.3 |
5,692.4 |
4,707.1 |
5,997.3 |
1,561.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
4,036.2 |
3,133.1 |
2,585.6 |
4,064.2 |
920.6 |
|
Cost of Revenue, Total |
4,036.2 |
3,133.1 |
2,585.6 |
4,064.2 |
920.6 |
|
Gross Profit |
2,229.2 |
2,559.3 |
2,121.5 |
1,933.1 |
641.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
193.1 |
192.4 |
181.2 |
207.8 |
20.6 |
|
Labor & Related Expense |
1,017.2 |
1,088.3 |
764.7 |
917.9 |
272.6 |
|
Total Selling/General/Administrative Expenses |
1,210.3 |
1,280.7 |
945.9 |
1,125.6 |
293.2 |
|
Depreciation |
655.7 |
637.9 |
612.4 |
607.8 |
136.4 |
|
Depreciation/Amortization |
655.7 |
637.9 |
612.4 |
607.8 |
136.4 |
|
Investment Income -
Operating |
79.7 |
-287.0 |
-92.3 |
134.0 |
5.1 |
|
Interest/Investment Income - Operating |
79.7 |
-287.0 |
-92.3 |
134.0 |
5.1 |
|
Interest Expense (Income) - Net Operating Total |
79.7 |
-287.0 |
-92.3 |
134.0 |
5.1 |
|
Impairment-Assets Held for Use |
36.8 |
15.4 |
15.4 |
142.3 |
- |
|
Other Unusual Expense (Income) |
- |
- |
- |
128.6 |
- |
|
Unusual Expense (Income) |
36.8 |
15.4 |
15.4 |
270.9 |
- |
|
Other Operating Expense |
202.1 |
157.8 |
66.8 |
131.9 |
102.9 |
|
Other Operating Expenses, Total |
202.1 |
157.8 |
66.8 |
131.9 |
102.9 |
|
Total Operating Expense |
6,220.7 |
4,937.8 |
4,133.7 |
6,334.5 |
1,458.2 |
|
|
|
|
|
|
|
|
Operating Income |
44.6 |
754.6 |
573.4 |
-337.2 |
103.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-185.5 |
-162.8 |
-167.1 |
-164.4 |
-40.7 |
|
Interest Expense, Net Non-Operating |
-185.5 |
-162.8 |
-167.1 |
-164.4 |
-40.7 |
|
Interest Income -
Non-Operating |
23.3 |
5.8 |
5.2 |
14.8 |
7.0 |
|
Investment Income -
Non-Operating |
6.0 |
8.1 |
-0.2 |
-2.0 |
-0.4 |
|
Interest/Investment Income - Non-Operating |
29.3 |
14.0 |
4.9 |
12.8 |
6.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-156.2 |
-148.9 |
-162.2 |
-151.6 |
-34.2 |
|
Gain (Loss) on Sale of Assets |
0.3 |
3.0 |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
-148.5 |
-83.6 |
-175.1 |
-218.5 |
9.3 |
|
Other, Net |
-148.5 |
-83.6 |
-175.1 |
-218.5 |
9.3 |
|
Income Before Tax |
-259.7 |
525.1 |
236.1 |
-707.3 |
78.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
73.6 |
58.8 |
20.1 |
-68.5 |
24.5 |
|
Income After Tax |
-333.4 |
466.3 |
216.0 |
-638.8 |
54.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.1 |
-1.5 |
-2.1 |
-1.9 |
-0.5 |
|
Net Income Before Extraord Items |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
Net Income |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
2,182.8 |
1,830.1 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Basic EPS Excl Extraord Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Basic/Primary EPS Incl Extraord Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
Diluted Weighted Average Shares |
2,182.8 |
1,830.1 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Diluted EPS Excl Extraord Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Diluted EPS Incl Extraord Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Dividends per Share - Common Stock Primary Issue |
0.04 |
0.01 |
0.00 |
0.07 |
0.05 |
|
Gross Dividends - Common Stock |
89.5 |
15.2 |
0.0 |
24.7 |
89.3 |
|
Interest Expense, Supplemental |
185.5 |
162.8 |
167.1 |
164.4 |
40.7 |
|
Depreciation, Supplemental |
649.3 |
623.9 |
601.8 |
598.8 |
136.4 |
|
Total Special Items |
36.4 |
12.5 |
15.4 |
270.9 |
- |
|
Normalized Income Before Tax |
-223.3 |
537.5 |
251.6 |
-436.3 |
78.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
12.8 |
1.4 |
1.3 |
94.8 |
- |
|
Inc Tax Ex Impact of Sp Items |
86.4 |
60.2 |
21.5 |
26.3 |
24.5 |
|
Normalized Income After Tax |
-309.7 |
477.3 |
230.1 |
-462.7 |
54.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-310.8 |
475.8 |
228.0 |
-464.6 |
53.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.14 |
0.26 |
0.13 |
-0.27 |
0.03 |
|
Diluted Normalized EPS |
-0.14 |
0.26 |
0.13 |
-0.27 |
0.03 |
|
Amort of Intangibles, Supplemental |
9.2 |
- |
7.4 |
6.8 |
- |
|
Rental Expenses |
88.9 |
86.0 |
83.9 |
89.6 |
- |
|
Advertising Expense, Supplemental |
193.0 |
192.4 |
- |
- |
- |
|
Normalized EBIT |
161.0 |
483.0 |
496.5 |
67.7 |
108.7 |
|
Normalized EBITDA |
819.5 |
1,106.9 |
1,105.8 |
673.3 |
245.1 |
|
Current Tax - Domestic |
1.4 |
36.8 |
0.5 |
3.7 |
- |
|
Current Tax - Other |
-0.4 |
- |
- |
- |
- |
|
Current Tax - Total |
1.0 |
36.8 |
0.5 |
3.7 |
- |
|
Deferred Tax - Domestic |
-6.3 |
22.0 |
19.7 |
-72.2 |
- |
|
Deferred Tax - Other |
79.0 |
0.0 |
- |
- |
- |
|
Deferred Tax - Total |
72.7 |
22.0 |
19.7 |
-72.2 |
- |
|
Domestic Tax - Other |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Income Tax - Total |
73.6 |
58.8 |
20.1 |
-68.5 |
- |
|
Interest Cost - Domestic |
12.6 |
12.6 |
- |
- |
- |
|
Service Cost - Domestic |
16.0 |
14.8 |
- |
- |
- |
|
Actuarial Gains and Losses - Domestic |
29.6 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
58.2 |
27.3 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
37.9 |
- |
32.2 |
34.6 |
- |
|
Total Pension Expense |
96.2 |
27.3 |
32.2 |
34.6 |
- |
|
Discount Rate - Domestic |
4.20% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
7.00% |
- |
- |
- |
- |
|
Compensation Rate - Foreign |
5.00% |
- |
- |
- |
- |
|
Total Plan Interest Cost |
12.6 |
12.6 |
- |
- |
- |
|
Total Plan Service Cost |
16.0 |
14.8 |
- |
- |
- |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Special |
Reclassified
Calculated |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.004083 |
31.002903 |
30.136505 |
30.401066 |
30.538187 |
|
|
|
|
|
|
|
|
Net Sales |
1,741.7 |
1,481.4 |
1,632.7 |
3,153.3 |
1,670.9 |
|
Revenue |
1,741.7 |
1,481.4 |
1,632.7 |
3,153.3 |
1,670.9 |
|
Total Revenue |
1,741.7 |
1,481.4 |
1,632.7 |
3,153.3 |
1,670.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,039.6 |
999.6 |
1,072.4 |
1,964.8 |
938.6 |
|
Cost of Revenue, Total |
1,039.6 |
999.6 |
1,072.4 |
1,964.8 |
938.6 |
|
Gross Profit |
702.0 |
481.8 |
560.3 |
1,188.5 |
732.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
49.5 |
48.5 |
52.6 |
92.0 |
43.7 |
|
Labor & Related Expense |
228.8 |
261.6 |
214.7 |
540.4 |
253.4 |
|
Total Selling/General/Administrative Expenses |
278.3 |
310.1 |
267.3 |
632.4 |
297.1 |
|
Depreciation |
166.0 |
163.6 |
169.7 |
322.4 |
157.0 |
|
Depreciation/Amortization |
166.0 |
163.6 |
169.7 |
322.4 |
157.0 |
|
Investment Income -
Operating |
-17.0 |
-28.9 |
-76.3 |
185.0 |
110.0 |
|
Interest/Investment Income - Operating |
-17.0 |
-28.9 |
-76.3 |
185.0 |
110.0 |
|
Interest Expense (Income) - Net Operating Total |
-17.0 |
-28.9 |
-76.3 |
185.0 |
110.0 |
|
Impairment-Assets Held for Use |
6.5 |
2.0 |
14.8 |
20.2 |
11.7 |
|
Unusual Expense (Income) |
6.5 |
2.0 |
14.8 |
20.2 |
11.7 |
|
Other Operating Expense |
42.4 |
48.8 |
46.6 |
106.7 |
52.4 |
|
Other Operating Expenses, Total |
42.4 |
48.8 |
46.6 |
106.7 |
52.4 |
|
Total Operating Expense |
1,515.8 |
1,495.2 |
1,494.5 |
3,231.5 |
1,566.8 |
|
|
|
|
|
|
|
|
Operating Income |
225.9 |
-13.8 |
138.2 |
-78.2 |
104.0 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-47.8 |
-47.1 |
-48.7 |
-89.7 |
-42.9 |
|
Interest Expense, Net Non-Operating |
-47.8 |
-47.1 |
-48.7 |
-89.7 |
-42.9 |
|
Interest Income -
Non-Operating |
3.8 |
12.4 |
3.5 |
7.3 |
3.9 |
|
Investment Income -
Non-Operating |
3.0 |
1.3 |
0.0 |
4.7 |
1.3 |
|
Interest/Investment Income - Non-Operating |
6.8 |
13.8 |
3.5 |
11.9 |
5.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
-40.9 |
-33.4 |
-45.2 |
-77.8 |
-37.7 |
|
Other Non-Operating Income (Expense) |
-60.2 |
-50.9 |
-7.0 |
-89.8 |
-41.7 |
|
Other, Net |
-60.2 |
-50.9 |
-7.0 |
-89.8 |
-41.7 |
|
Income Before Tax |
124.7 |
-98.0 |
86.0 |
-245.7 |
24.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
6.4 |
75.6 |
4.6 |
-7.9 |
4.0 |
|
Income After Tax |
118.3 |
-173.6 |
81.4 |
-237.9 |
20.7 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.7 |
-0.1 |
-0.2 |
-0.8 |
-0.5 |
|
Net Income Before Extraord Items |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
Net Income |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
|
Basic EPS Excl Extraord Items |
0.05 |
-0.08 |
0.04 |
-0.11 |
0.01 |
|
Basic/Primary EPS Incl Extraord Items |
0.05 |
-0.08 |
0.04 |
-0.11 |
0.01 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
Diluted Weighted Average Shares |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
|
Diluted EPS Excl Extraord Items |
0.05 |
-0.08 |
0.04 |
-0.11 |
0.01 |
|
Diluted EPS Incl Extraord Items |
0.05 |
-0.08 |
0.04 |
-0.11 |
0.01 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.04 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
89.7 |
0.0 |
|
Interest Expense, Supplemental |
47.8 |
47.1 |
48.7 |
89.7 |
42.9 |
|
Depreciation, Supplemental |
311.2 |
163.6 |
172.4 |
322.4 |
157.0 |
|
Total Special Items |
6.5 |
2.0 |
14.8 |
20.2 |
11.7 |
|
Normalized Income Before Tax |
131.2 |
-96.0 |
100.8 |
-225.5 |
36.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.3 |
0.7 |
0.8 |
7.1 |
1.9 |
|
Inc Tax Ex Impact of Sp Items |
6.8 |
76.3 |
5.4 |
-0.8 |
5.8 |
|
Normalized Income After Tax |
124.4 |
-172.3 |
95.4 |
-224.7 |
30.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
123.7 |
-172.5 |
95.2 |
-225.6 |
30.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.06 |
-0.08 |
0.04 |
-0.10 |
0.01 |
|
Diluted Normalized EPS |
0.06 |
-0.08 |
0.04 |
-0.10 |
0.01 |
|
Amort of Intangibles, Supplemental |
3.2 |
- |
2.5 |
- |
- |
|
Rental Expenses |
21.6 |
- |
23.3 |
- |
- |
|
Normalized EBIT |
215.3 |
-40.7 |
76.7 |
127.0 |
225.7 |
|
Normalized EBITDA |
529.8 |
122.9 |
251.6 |
449.4 |
382.7 |
|
Current Tax - Domestic |
1.3 |
- |
0.9 |
- |
- |
|
Current Tax - Total |
1.3 |
- |
0.9 |
- |
- |
|
Deferred Tax - Domestic |
5.2 |
- |
3.7 |
- |
- |
|
Deferred Tax - Total |
5.2 |
- |
3.7 |
- |
- |
|
Other Tax |
- |
- |
0.0 |
- |
- |
|
Income Tax - Total |
6.4 |
- |
4.6 |
- |
- |
|
Discount Rate - Domestic |
- |
4.20% |
4.20% |
- |
- |
|
Compensation Rate - Domestic |
- |
7.00% |
7.00% |
- |
- |
|
Compensation Rate - Foreign |
- |
5.00% |
5.00% |
- |
- |
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 |
Restated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.55 |
30.145 |
33.34 |
34.78 |
33.685 |
|
Auditor |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
528.2 |
1,249.9 |
428.9 |
214.1 |
766.3 |
|
Cash & Equivalents |
- |
- |
- |
- |
135.5 |
|
Short Term Investments |
13.3 |
18.2 |
10.5 |
15.2 |
5.4 |
|
Cash and Short Term Investments |
541.5 |
1,268.2 |
439.4 |
229.3 |
907.2 |
|
Accounts Receivable -
Trade, Gross |
579.8 |
618.6 |
509.6 |
496.2 |
598.5 |
|
Provision for Doubtful
Accounts |
-52.1 |
-53.8 |
-50.4 |
-41.1 |
-41.0 |
|
Trade Accounts Receivable - Net |
527.7 |
564.8 |
459.1 |
455.1 |
557.5 |
|
Other Receivables |
10.3 |
8.8 |
6.6 |
7.1 |
45.1 |
|
Total Receivables, Net |
538.0 |
573.6 |
465.7 |
462.2 |
602.6 |
|
Inventories - Finished Goods |
6.7 |
6.3 |
5.5 |
6.9 |
5.9 |
|
Inventories - Raw Materials |
282.7 |
267.7 |
227.6 |
224.5 |
204.9 |
|
Inventories - Other |
-45.0 |
-42.9 |
-47.2 |
-36.5 |
-29.6 |
|
Total Inventory |
244.4 |
231.1 |
185.9 |
194.9 |
181.2 |
|
Prepaid Expenses |
331.8 |
301.4 |
133.8 |
135.3 |
144.0 |
|
Other Current Assets |
223.7 |
232.2 |
193.6 |
189.3 |
101.5 |
|
Other Current Assets, Total |
223.7 |
232.2 |
193.6 |
189.3 |
101.5 |
|
Total Current Assets |
1,879.4 |
2,606.6 |
1,418.4 |
1,211.1 |
1,936.5 |
|
|
|
|
|
|
|
|
Buildings |
489.2 |
512.2 |
- |
- |
- |
|
Land/Improvements |
109.8 |
114.9 |
565.7 |
539.6 |
565.1 |
|
Machinery/Equipment |
12,322.7 |
12,602.5 |
11,203.4 |
10,307.0 |
10,046.7 |
|
Construction in
Progress |
90.0 |
10.3 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
13,011.6 |
13,239.8 |
11,769.2 |
10,846.6 |
10,611.8 |
|
Accumulated Depreciation |
-6,514.1 |
-6,402.2 |
-5,365.3 |
-4,893.1 |
-4,462.1 |
|
Property/Plant/Equipment - Net |
6,497.5 |
6,837.6 |
6,403.9 |
5,953.5 |
6,149.7 |
|
Intangibles - Gross |
58.8 |
49.9 |
39.2 |
34.8 |
31.9 |
|
Accumulated Intangible Amortization |
-39.0 |
-31.5 |
-19.7 |
-11.6 |
-5.2 |
|
Intangibles, Net |
19.8 |
18.3 |
19.6 |
23.2 |
26.7 |
|
LT Investment - Affiliate Companies |
51.7 |
46.5 |
37.2 |
38.4 |
43.6 |
|
LT Investments - Other |
5.7 |
2.6 |
29.1 |
2.5 |
3.1 |
|
Long Term Investments |
57.3 |
49.1 |
66.3 |
41.0 |
46.7 |
|
Deferred Charges |
64.4 |
63.7 |
- |
- |
40.8 |
|
Deferred Income Tax - Long Term Asset |
171.5 |
251.1 |
171.9 |
184.2 |
118.0 |
|
Other Long Term Assets |
9.0 |
11.4 |
69.2 |
49.2 |
2.1 |
|
Other Long Term Assets, Total |
244.8 |
326.1 |
241.1 |
233.4 |
160.9 |
|
Total Assets |
8,698.7 |
9,837.7 |
8,149.2 |
7,462.2 |
8,320.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
233.4 |
213.6 |
197.5 |
189.0 |
298.8 |
|
Accrued Expenses |
442.4 |
626.9 |
408.8 |
453.1 |
515.5 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
33.5 |
617.8 |
147.3 |
|
Current Portion - Long Term Debt/Capital Leases |
598.2 |
768.1 |
764.6 |
554.2 |
723.2 |
|
Dividends Payable |
1.6 |
2.4 |
2.1 |
2.0 |
92.6 |
|
Customer Advances |
784.9 |
873.0 |
807.7 |
870.1 |
964.3 |
|
Income Taxes Payable |
22.6 |
26.5 |
1.0 |
1.0 |
26.1 |
|
Other Payables |
67.4 |
73.7 |
- |
- |
- |
|
Other Current Liabilities |
89.6 |
94.0 |
197.9 |
147.2 |
128.2 |
|
Other Current liabilities, Total |
966.1 |
1,069.6 |
1,008.7 |
1,020.4 |
1,211.2 |
|
Total Current Liabilities |
2,240.1 |
2,678.2 |
2,413.1 |
2,834.5 |
2,896.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
2,397.3 |
2,268.8 |
1,841.1 |
1,181.2 |
1,162.4 |
|
Capital Lease Obligations |
1,514.8 |
1,815.6 |
2,040.4 |
1,878.5 |
2,095.1 |
|
Total Long Term Debt |
3,912.1 |
4,084.4 |
3,881.5 |
3,059.7 |
3,257.5 |
|
Total Debt |
4,510.3 |
4,852.5 |
4,679.5 |
4,231.8 |
4,127.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.8 |
0.0 |
- |
- |
- |
|
Deferred Income Tax |
1.8 |
0.0 |
- |
- |
- |
|
Minority Interest |
8.4 |
9.6 |
8.9 |
8.0 |
8.2 |
|
Reserves |
48.4 |
84.8 |
116.4 |
111.4 |
- |
|
Pension Benefits - Underfunded |
481.5 |
454.4 |
141.2 |
137.4 |
147.6 |
|
Other Long Term Liabilities |
4.2 |
2.0 |
0.0 |
0.0 |
- |
|
Other Liabilities, Total |
534.1 |
541.2 |
257.6 |
248.8 |
147.6 |
|
Total Liabilities |
6,696.5 |
7,313.5 |
6,561.1 |
6,151.0 |
6,309.2 |
|
|
|
|
|
|
|
|
Common Stock |
691.8 |
724.1 |
509.6 |
488.5 |
504.3 |
|
Common Stock |
691.8 |
724.1 |
509.6 |
488.5 |
504.3 |
|
Additional Paid-In Capital |
809.8 |
847.5 |
469.0 |
449.6 |
464.2 |
|
Retained Earnings (Accumulated Deficit) |
500.6 |
952.7 |
609.5 |
373.1 |
1,042.7 |
|
Unrealized Gain (Loss) |
- |
- |
- |
0.0 |
0.0 |
|
Total Equity |
2,002.2 |
2,524.3 |
1,588.1 |
1,311.2 |
2,011.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
8,698.7 |
9,837.7 |
8,149.2 |
7,462.2 |
8,320.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
2,182.8 |
2,182.8 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Total Common Shares Outstanding |
2,182.8 |
2,182.8 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Employees |
25,848 |
25,884 |
27,002 |
- |
27,285 |
|
Accumulated Intangible Amort, Suppl. |
39.0 |
31.5 |
19.7 |
11.6 |
5.2 |
|
Deferred Revenue - Current |
818.0 |
838.4 |
807.7 |
870.1 |
964.3 |
|
Total Long Term Debt, Supplemental |
- |
- |
764.6 |
- |
723.1 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
764.6 |
- |
723.1 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
0.0 |
- |
0.0 |
|
Total Operating Leases, Supplemental |
5,098.7 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 1 |
131.4 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 2 |
295.2 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 3 |
295.2 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 4 |
295.2 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 5 |
295.2 |
- |
- |
- |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
590.4 |
- |
- |
- |
- |
|
Operating Lease Pymts. Due in 4-5 Years |
590.4 |
- |
- |
- |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
3,786.5 |
- |
- |
- |
- |
|
Discount Rate - Domestic |
4.20% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
7.00% |
- |
- |
- |
- |
|
Compensation Rate - Foreign |
5.00% |
- |
- |
- |
- |
|
Accrued Liabilities - Domestic |
-481.5 |
-454.4 |
-141.2 |
-137.4 |
-147.6 |
|
Net Assets Recognized on Balance Sheet |
-481.5 |
-454.4 |
-141.2 |
-137.4 |
-147.6 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
30.915001 |
31.55 |
31.085 |
30.725 |
30.245 |
|
|
|
|
|
|
|
|
Cash |
623.6 |
528.2 |
658.5 |
847.3 |
1,107.5 |
|
Short Term Investments |
44.3 |
13.3 |
14.2 |
12.9 |
10.9 |
|
Cash and Short Term Investments |
667.9 |
541.5 |
672.7 |
860.3 |
1,118.4 |
|
Accounts Receivable -
Trade, Gross |
590.5 |
579.8 |
558.9 |
548.8 |
606.0 |
|
Provision for Doubtful
Accounts |
-52.8 |
-52.1 |
-52.8 |
-52.9 |
-53.3 |
|
Trade Accounts Receivable - Net |
537.7 |
527.7 |
506.1 |
495.9 |
552.7 |
|
Other Receivables |
257.8 |
10.3 |
14.3 |
12.9 |
9.0 |
|
Total Receivables, Net |
795.5 |
538.0 |
520.4 |
508.8 |
561.8 |
|
Total Inventory |
259.7 |
244.4 |
239.9 |
240.4 |
249.8 |
|
Prepaid Expenses |
340.8 |
331.8 |
338.1 |
323.6 |
316.3 |
|
Other Current Assets |
17.5 |
223.7 |
199.9 |
209.5 |
228.9 |
|
Other Current Assets, Total |
17.5 |
223.7 |
199.9 |
209.5 |
228.9 |
|
Total Current Assets |
2,081.4 |
1,879.4 |
1,971.0 |
2,142.5 |
2,475.1 |
|
|
|
|
|
|
|
|
Buildings |
580.8 |
489.2 |
496.0 |
503.7 |
- |
|
Land/Improvements |
30.4 |
109.8 |
111.4 |
112.7 |
625.6 |
|
Machinery/Equipment |
12,643.8 |
12,322.7 |
12,319.3 |
12,510.4 |
12,647.9 |
|
Construction in
Progress |
86.9 |
90.0 |
76.9 |
71.9 |
- |
|
Property/Plant/Equipment - Gross |
13,341.8 |
13,011.6 |
13,003.6 |
13,198.7 |
13,273.5 |
|
Accumulated Depreciation |
-6,648.7 |
-6,514.1 |
-6,468.7 |
-6,534.4 |
-6,515.2 |
|
Property/Plant/Equipment - Net |
6,693.1 |
6,497.5 |
6,535.0 |
6,664.3 |
6,758.3 |
|
Intangibles - Gross |
71.0 |
58.8 |
58.1 |
54.8 |
55.3 |
|
Accumulated Intangible Amortization |
-45.1 |
-39.0 |
-37.3 |
-35.3 |
-33.7 |
|
Intangibles, Net |
28.2 |
19.8 |
20.7 |
19.5 |
21.6 |
|
LT Investment - Affiliate Companies |
40.7 |
51.7 |
45.8 |
47.3 |
47.6 |
|
LT Investments - Other |
5.9 |
5.7 |
12.9 |
4.2 |
7.2 |
|
Long Term Investments |
46.6 |
57.3 |
58.7 |
51.5 |
54.8 |
|
Deferred Charges |
69.2 |
64.4 |
61.6 |
62.6 |
60.0 |
|
Deferred Income Tax - Long Term Asset |
171.0 |
171.5 |
250.4 |
254.7 |
254.3 |
|
Other Long Term Assets |
12.8 |
9.0 |
15.1 |
16.5 |
15.9 |
|
Other Long Term Assets, Total |
253.0 |
244.8 |
327.0 |
333.8 |
330.1 |
|
Total Assets |
9,102.3 |
8,698.7 |
8,912.5 |
9,211.6 |
9,639.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
250.5 |
233.4 |
259.8 |
287.8 |
297.2 |
|
Accrued Expenses |
441.0 |
442.4 |
435.9 |
464.8 |
446.6 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
635.8 |
598.2 |
669.2 |
640.8 |
775.5 |
|
Dividends Payable |
1.7 |
1.6 |
1.7 |
2.6 |
2.4 |
|
Customer Advances |
724.1 |
784.8 |
750.1 |
780.8 |
808.9 |
|
Income Taxes Payable |
2.2 |
0.5 |
0.2 |
0.8 |
6.8 |
|
Other Current Liabilities |
245.2 |
179.2 |
187.3 |
195.7 |
185.4 |
|
Other Current liabilities, Total |
973.2 |
966.1 |
939.4 |
980.0 |
1,003.4 |
|
Total Current Liabilities |
2,300.4 |
2,240.1 |
2,304.3 |
2,373.4 |
2,522.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
2,520.1 |
2,397.3 |
2,379.1 |
2,397.4 |
2,238.7 |
|
Capital Lease Obligations |
1,537.0 |
1,514.8 |
1,487.1 |
1,723.0 |
1,776.9 |
|
Total Long Term Debt |
4,057.1 |
3,912.1 |
3,866.2 |
4,120.4 |
4,015.7 |
|
Total Debt |
4,692.9 |
4,510.3 |
4,535.4 |
4,761.2 |
4,791.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
2.1 |
1.8 |
2.2 |
- |
- |
|
Deferred Income Tax |
2.1 |
1.8 |
2.2 |
- |
- |
|
Minority Interest |
24.8 |
8.4 |
8.4 |
8.3 |
10.0 |
|
Reserves |
48.3 |
48.4 |
47.5 |
83.2 |
84.5 |
|
Pension Benefits - Underfunded |
502.8 |
481.5 |
472.4 |
469.6 |
466.9 |
|
Other Long Term Liabilities |
3.4 |
4.2 |
5.9 |
5.0 |
3.6 |
|
Other Liabilities, Total |
554.5 |
534.1 |
525.8 |
557.8 |
555.0 |
|
Total Liabilities |
6,939.0 |
6,696.5 |
6,707.0 |
7,060.0 |
7,103.4 |
|
|
|
|
|
|
|
|
Common Stock |
706.1 |
691.8 |
702.2 |
710.4 |
721.7 |
|
Common Stock |
706.1 |
691.8 |
702.2 |
710.4 |
721.7 |
|
Additional Paid-In Capital |
826.4 |
809.8 |
821.9 |
831.5 |
844.7 |
|
Retained Earnings (Accumulated Deficit) |
629.1 |
500.6 |
681.4 |
609.7 |
969.9 |
|
Other Equity |
1.8 |
- |
- |
- |
- |
|
Other Equity, Total |
1.8 |
- |
- |
- |
- |
|
Total Equity |
2,163.3 |
2,002.2 |
2,205.5 |
2,151.7 |
2,536.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
9,102.3 |
8,698.7 |
8,912.5 |
9,211.6 |
9,639.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
|
Total Common Shares Outstanding |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
|
Employees |
- |
25,848 |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
45.1 |
39.0 |
37.3 |
35.3 |
33.7 |
|
Deferred Revenue - Current |
724.1 |
784.8 |
750.1 |
780.8 |
808.9 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
640.8 |
775.5 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
640.8 |
775.5 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
0.0 |
0.0 |
|
Total Operating Leases, Supplemental |
5,007.5 |
5,098.7 |
- |
1,624.7 |
- |
|
Operating Lease Payments Due in Year 1 |
140.4 |
131.4 |
- |
107.1 |
- |
|
Operating Lease Payments Due in Year 2 |
212.5 |
295.2 |
- |
132.9 |
- |
|
Operating Lease Payments Due in Year 3 |
212.5 |
295.2 |
- |
132.9 |
- |
|
Operating Lease Payments Due in Year 4 |
212.5 |
295.2 |
- |
132.9 |
- |
|
Operating Lease Payments Due in Year 5 |
212.5 |
295.2 |
- |
132.9 |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
425.0 |
590.4 |
- |
265.8 |
- |
|
Operating Lease Pymts. Due in 4-5 Years |
425.0 |
590.4 |
- |
265.8 |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
4,017.2 |
3,786.5 |
- |
985.9 |
- |
|
Discount Rate - Domestic |
- |
4.20% |
4.20% |
4.20% |
4.20% |
|
Compensation Rate - Domestic |
- |
7.00% |
7.00% |
7.00% |
7.00% |
|
Compensation Rate - Foreign |
- |
5.00% |
5.00% |
5.00% |
5.00% |
|
Accrued Liabilities - Domestic |
-502.8 |
-481.5 |
-472.4 |
-469.6 |
-466.9 |
|
Net Assets Recognized on Balance Sheet |
-502.8 |
-481.5 |
-472.4 |
-469.6 |
-466.9 |
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 |
Updated Normal |
Restated 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 |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-259.7 |
525.1 |
236.1 |
-707.3 |
185.1 |
|
Depreciation |
655.7 |
637.9 |
612.4 |
607.8 |
532.6 |
|
Depreciation/Depletion |
655.7 |
637.9 |
612.4 |
607.8 |
532.6 |
|
Deferred Taxes |
1.3 |
0.0 |
0.0 |
-0.6 |
0.0 |
|
Unusual Items |
36.4 |
17.1 |
8.6 |
131.1 |
8.9 |
|
Equity in Net Earnings (Loss) |
-6.0 |
-8.1 |
0.2 |
2.0 |
-3.0 |
|
Other Non-Cash Items |
243.4 |
-85.3 |
79.0 |
278.5 |
166.2 |
|
Non-Cash Items |
273.8 |
-76.3 |
87.9 |
411.6 |
172.1 |
|
Accounts Receivable |
21.4 |
-58.8 |
22.1 |
114.7 |
-43.0 |
|
Inventories |
-30.9 |
-24.1 |
14.1 |
-23.5 |
-29.3 |
|
Prepaid Expenses |
-28.2 |
-152.9 |
3.2 |
10.2 |
-7.3 |
|
Other Assets |
5.4 |
6.4 |
-27.1 |
40.7 |
-33.8 |
|
Accounts Payable |
-91.0 |
-4.3 |
0.7 |
-81.1 |
91.1 |
|
Accrued Expenses |
-160.4 |
160.2 |
-22.1 |
-42.5 |
33.0 |
|
Other Liabilities |
-77.3 |
-83.5 |
-88.6 |
44.5 |
222.8 |
|
Other Operating Cash Flow |
-9.3 |
-38.5 |
-7.8 |
-34.8 |
-108.1 |
|
Changes in Working Capital |
-370.3 |
-195.6 |
-105.6 |
28.2 |
125.5 |
|
Cash from Operating Activities |
300.7 |
891.0 |
830.8 |
339.7 |
1,015.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-404.7 |
-302.0 |
-478.5 |
-641.4 |
-349.9 |
|
Purchase/Acquisition of Intangibles |
-9.6 |
-3.3 |
-2.9 |
-4.1 |
-17.2 |
|
Capital Expenditures |
-414.2 |
-305.2 |
-481.4 |
-645.5 |
-367.1 |
|
Sale of Fixed Assets |
28.5 |
21.9 |
45.2 |
30.5 |
70.3 |
|
Sale/Maturity of Investment |
4.4 |
0.0 |
5.2 |
- |
2.5 |
|
Purchase of Investments |
-8.6 |
-6.3 |
0.0 |
-9.8 |
-2.2 |
|
Other Investing Cash Flow |
28.1 |
10.0 |
9.4 |
16.1 |
24.9 |
|
Other Investing Cash Flow Items, Total |
52.4 |
25.6 |
59.8 |
36.9 |
95.4 |
|
Cash from Investing Activities |
-361.8 |
-279.7 |
-421.5 |
-608.6 |
-271.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-191.2 |
134.7 |
-159.8 |
-170.2 |
-88.6 |
|
Financing Cash Flow Items |
-191.2 |
134.7 |
-159.8 |
-170.2 |
-88.6 |
|
Cash Dividends Paid - Common |
-90.1 |
-13.3 |
0.0 |
-114.3 |
-83.1 |
|
Total Cash Dividends Paid |
-90.1 |
-13.3 |
0.0 |
-114.3 |
-83.1 |
|
Sale/Issuance of
Common |
0.0 |
152.5 |
0.0 |
0.0 |
0.0 |
|
Common Stock, Net |
0.0 |
152.5 |
0.0 |
0.0 |
0.0 |
|
Sale/Issuance of Common/Preferred |
0.0 |
0.0 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
152.6 |
0.0 |
0.0 |
0.0 |
|
Short Term Debt Issued |
- |
- |
- |
496.9 |
137.3 |
|
Short Term Debt
Reduction |
0.0 |
-35.2 |
-592.0 |
0.0 |
-375.0 |
|
Short Term Debt, Net |
0.0 |
-35.2 |
-592.0 |
496.9 |
-237.7 |
|
Long Term Debt Issued |
616.7 |
692.4 |
1,137.0 |
345.5 |
320.4 |
|
Long Term Debt
Reduction |
-966.5 |
-805.7 |
-591.6 |
-836.1 |
-269.1 |
|
Long Term Debt, Net |
-349.8 |
-113.3 |
545.4 |
-490.6 |
51.3 |
|
Issuance (Retirement) of Debt, Net |
-349.8 |
-148.5 |
-46.6 |
6.3 |
-186.4 |
|
Cash from Financing Activities |
-631.1 |
125.4 |
-206.4 |
-278.2 |
-358.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
0.2 |
-3.3 |
-1.8 |
7.0 |
|
Net Change in Cash |
-689.3 |
737.0 |
199.6 |
-548.9 |
392.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,236.0 |
450.7 |
216.9 |
772.0 |
361.1 |
|
Net Cash - Ending Balance |
546.7 |
1,187.7 |
416.5 |
223.1 |
753.6 |
|
Cash Interest Paid |
189.3 |
175.9 |
158.2 |
162.8 |
88.4 |
|
Cash Taxes Paid |
9.3 |
38.5 |
7.8 |
8.1 |
108.1 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.004083 |
30.484713 |
30.310418 |
30.401066 |
30.538187 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
124.7 |
-259.7 |
-160.9 |
-245.7 |
24.7 |
|
Depreciation |
166.0 |
655.7 |
492.1 |
322.4 |
157.0 |
|
Depreciation/Depletion |
166.0 |
655.7 |
492.1 |
322.4 |
157.0 |
|
Deferred Taxes |
- |
1.3 |
- |
- |
- |
|
Unusual Items |
6.3 |
36.4 |
34.6 |
20.0 |
11.6 |
|
Equity in Net Earnings (Loss) |
-3.0 |
-6.0 |
-4.7 |
-4.7 |
-1.3 |
|
Other Non-Cash Items |
33.8 |
243.4 |
250.5 |
264.1 |
146.6 |
|
Non-Cash Items |
37.1 |
273.8 |
280.5 |
279.4 |
157.0 |
|
Accounts Receivable |
2.4 |
21.4 |
48.9 |
65.2 |
15.0 |
|
Inventories |
-13.0 |
-30.9 |
-19.1 |
-14.8 |
-19.5 |
|
Prepaid Expenses |
-11.6 |
-28.2 |
-36.7 |
-22.3 |
-16.1 |
|
Other Assets |
-30.0 |
5.4 |
6.9 |
9.7 |
-4.5 |
|
Accounts Payable |
-62.8 |
-91.0 |
-59.2 |
16.3 |
84.1 |
|
Accrued Expenses |
27.1 |
-160.4 |
-177.4 |
-138.4 |
-177.2 |
|
Other Liabilities |
-73.3 |
-77.3 |
-118.3 |
-67.7 |
-47.5 |
|
Other Operating Cash Flow |
-2.0 |
-9.3 |
-7.5 |
-4.3 |
-1.8 |
|
Changes in Working Capital |
-163.1 |
-370.3 |
-362.4 |
-156.4 |
-167.5 |
|
Cash from Operating Activities |
164.7 |
300.7 |
249.2 |
199.8 |
171.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-103.5 |
-404.7 |
-318.5 |
-239.5 |
-114.1 |
|
Purchase/Acquisition of Intangibles |
-0.1 |
-9.6 |
-7.5 |
-5.9 |
-5.5 |
|
Capital Expenditures |
-103.5 |
-414.2 |
-326.0 |
-245.5 |
-119.7 |
|
Sale of Fixed Assets |
9.3 |
28.5 |
9.4 |
9.2 |
4.5 |
|
Sale/Maturity of Investment |
9.6 |
4.4 |
3.7 |
5.1 |
7.3 |
|
Purchase of Investments |
- |
-8.6 |
-1.6 |
-1.6 |
- |
|
Other Investing Cash Flow |
2.1 |
28.1 |
17.6 |
12.0 |
4.4 |
|
Other Investing Cash Flow Items, Total |
20.9 |
52.4 |
29.1 |
24.7 |
16.2 |
|
Cash from Investing Activities |
-82.6 |
-361.8 |
-296.9 |
-220.8 |
-103.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-36.9 |
-191.2 |
-136.8 |
-100.2 |
-45.6 |
|
Financing Cash Flow Items |
-36.9 |
-191.2 |
-136.8 |
-100.2 |
-45.6 |
|
Cash Dividends Paid - Common |
0.0 |
-90.1 |
-90.6 |
-89.4 |
0.0 |
|
Total Cash Dividends Paid |
0.0 |
-90.1 |
-90.6 |
-89.4 |
0.0 |
|
Sale/Issuance of
Common |
- |
0.0 |
0.0 |
- |
- |
|
Common Stock, Net |
- |
0.0 |
0.0 |
- |
- |
|
Sale/Issuance of Common/Preferred |
- |
0.0 |
0.0 |
- |
- |
|
Issuance (Retirement) of Stock, Net |
- |
0.0 |
0.0 |
- |
- |
|
Short Term Debt
Reduction |
- |
0.0 |
0.0 |
- |
0.0 |
|
Short Term Debt, Net |
- |
0.0 |
0.0 |
- |
0.0 |
|
Long Term Debt Issued |
155.2 |
616.7 |
329.9 |
279.6 |
0.0 |
|
Long Term Debt
Reduction |
-116.7 |
-966.5 |
-624.5 |
-461.3 |
-151.0 |
|
Long Term Debt, Net |
38.5 |
-349.8 |
-294.6 |
-181.7 |
-151.0 |
|
Issuance (Retirement) of Debt, Net |
38.5 |
-349.8 |
-294.6 |
-181.7 |
-151.0 |
|
Cash from Financing Activities |
1.6 |
-631.1 |
-522.0 |
-371.3 |
-196.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.6 |
2.9 |
1.8 |
9.2 |
-8.1 |
|
Net Change in Cash |
84.3 |
-689.3 |
-567.8 |
-383.1 |
-137.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
537.5 |
1,236.0 |
1,243.1 |
1,239.4 |
1,233.9 |
|
Net Cash - Ending Balance |
621.8 |
546.7 |
675.3 |
856.4 |
1,096.8 |
|
Cash Interest Paid |
36.9 |
189.3 |
134.9 |
98.3 |
45.6 |
|
Cash Taxes Paid |
2.0 |
9.3 |
7.5 |
4.3 |
1.8 |
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 |
3 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
Updated Special |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
30.484713 |
31.724617 |
34.331774 |
33.367913 |
34.251325 |
|
Auditor |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of DIA
International Auditing |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Passenger/Excess Bag |
5,072.9 |
4,566.2 |
3,917.1 |
4,924.5 |
1,279.8 |
|
Freight |
893.7 |
863.4 |
539.6 |
774.4 |
210.1 |
|
Mail |
27.8 |
26.4 |
24.0 |
27.4 |
7.9 |
|
Other Activities |
270.9 |
236.3 |
226.5 |
271.1 |
64.0 |
|
Total Revenue |
6,265.3 |
5,692.4 |
4,707.1 |
5,997.3 |
1,561.8 |
|
|
|
|
|
|
|
|
Employee benefits expenses |
1,017.2 |
1,088.3 |
- |
- |
- |
|
Fuel and Oil |
2,505.8 |
1,781.5 |
1,369.4 |
2,681.0 |
538.0 |
|
Personnal Expense |
- |
- |
762.9 |
915.1 |
272.1 |
|
Rumeneration |
- |
- |
1.8 |
2.8 |
0.5 |
|
Flight Operations |
670.1 |
600.9 |
515.3 |
597.5 |
313.0 |
|
Maintenance |
383.7 |
305.0 |
300.6 |
325.1 |
- |
|
Depreciation |
655.7 |
637.9 |
612.4 |
607.8 |
136.4 |
|
Lease |
178.1 |
136.5 |
44.6 |
109.4 |
47.4 |
|
Cost Inventories and Supplies |
296.6 |
285.1 |
247.5 |
264.5 |
69.6 |
|
Marketing |
193.1 |
192.4 |
181.2 |
207.8 |
20.6 |
|
Impairment loss of aircraft |
5.9 |
5.4 |
- |
- |
- |
|
Insurance Expenses |
24.0 |
21.3 |
22.1 |
22.5 |
6.6 |
|
Impairment loss of assets |
30.8 |
10.0 |
15.4 |
142.3 |
- |
|
Foreign Currency Adj |
79.7 |
-287.0 |
-92.3 |
134.0 |
5.1 |
|
Crew Expenses |
179.9 |
160.5 |
152.7 |
196.1 |
- |
|
Other expenses |
- |
- |
- |
- |
48.9 |
|
Provision for Loss from unfair trade Law |
- |
- |
- |
128.6 |
- |
|
Total Operating Expense |
6,220.7 |
4,937.8 |
4,133.7 |
6,334.5 |
1,458.2 |
|
|
|
|
|
|
|
|
Loss on debentures redemption |
0.0 |
0.0 |
- |
- |
- |
|
Interest Income |
23.3 |
5.8 |
5.2 |
14.8 |
7.0 |
|
Gain on Sale of Assets |
0.3 |
3.0 |
- |
- |
- |
|
Other Income |
86.1 |
107.3 |
61.0 |
59.8 |
16.9 |
|
Yield From Pension |
- |
- |
- |
- |
-0.7 |
|
Other Expenses |
-234.5 |
-190.9 |
-236.0 |
-278.3 |
-6.9 |
|
Share of loss/profit of inv't-equity |
6.0 |
8.1 |
-0.2 |
-2.0 |
-0.4 |
|
Interest Expenses |
-185.5 |
-162.8 |
-167.1 |
-164.4 |
-40.7 |
|
Rounding Adjustment |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
-259.7 |
525.1 |
236.1 |
-707.3 |
78.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
73.6 |
58.8 |
20.1 |
-68.5 |
24.5 |
|
Net Income After Taxes |
-333.4 |
466.3 |
216.0 |
-638.8 |
54.2 |
|
|
|
|
|
|
|
|
Non-controlling interests Total Compre |
-1.1 |
-1.5 |
-2.1 |
-1.9 |
-0.5 |
|
Net Income Before Extra. Items |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
Net Income |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
2,182.8 |
1,830.1 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Basic EPS Including ExtraOrdinary Item |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-334.5 |
464.7 |
213.9 |
-640.7 |
53.7 |
|
Diluted Weighted Average Shares |
2,182.8 |
1,830.1 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
Diluted EPS Including ExtraOrd Items |
-0.15 |
0.25 |
0.13 |
-0.38 |
0.03 |
|
DPS-Common Stock |
0.04 |
0.01 |
0.00 |
0.07 |
0.05 |
|
Gross Dividends - Common Stock |
89.5 |
15.2 |
0.0 |
24.7 |
89.3 |
|
Normalized Income Before Taxes |
-223.3 |
537.5 |
251.6 |
-436.3 |
78.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
86.4 |
60.2 |
21.5 |
26.3 |
24.5 |
|
Normalized Income After Taxes |
-309.7 |
477.3 |
230.1 |
-462.7 |
54.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-310.8 |
475.8 |
228.0 |
-464.6 |
53.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.14 |
0.26 |
0.13 |
-0.27 |
0.03 |
|
Diluted Normalized EPS |
-0.14 |
0.26 |
0.13 |
-0.27 |
0.03 |
|
Interest Expense |
185.5 |
162.8 |
167.1 |
164.4 |
40.7 |
|
Amort of Intangibles |
9.2 |
- |
7.4 |
6.8 |
- |
|
Depreciation |
649.3 |
623.9 |
601.8 |
598.8 |
136.4 |
|
Rental Expense |
88.9 |
86.0 |
83.9 |
89.6 |
- |
|
Advertising Expense, Supplemental |
193.0 |
192.4 |
- |
- |
- |
|
Current Tax |
1.4 |
36.8 |
0.5 |
3.7 |
- |
|
Prior Year Domestic Tax |
-0.4 |
- |
- |
- |
- |
|
Current Tax - Total |
1.0 |
36.8 |
0.5 |
3.7 |
- |
|
Effect of Exchange Rate |
79.0 |
0.0 |
- |
- |
- |
|
Defered Tax |
-6.3 |
22.0 |
19.7 |
-72.2 |
- |
|
Deferred Tax - Total |
72.7 |
22.0 |
19.7 |
-72.2 |
- |
|
Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Income Tax - Total |
73.6 |
58.8 |
20.1 |
-68.5 |
- |
|
Service Cost - Domestic |
16.0 |
14.8 |
- |
- |
- |
|
Interest Cost - Domestic |
12.6 |
12.6 |
- |
- |
- |
|
Actuarial Gains and Losses - Domestic |
29.6 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
58.2 |
27.3 |
- |
- |
- |
|
Provident Fund |
37.9 |
- |
32.2 |
34.6 |
- |
|
Total Pension Expense |
96.2 |
27.3 |
32.2 |
34.6 |
- |
|
Discount Rate - Domestic |
4.20% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
7.00% |
- |
- |
- |
- |
|
Compensation Rate - Foreign |
5.00% |
- |
- |
- |
- |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Special |
Reclassified
Calculated |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate
(Period Average) |
31.004083 |
31.002903 |
30.136505 |
30.401066 |
30.538187 |
|
|
|
|
|
|
|
|
Passenger/Excess Bag |
1,450.0 |
1,194.0 |
1,334.2 |
2,546.7 |
1,373.2 |
|
Freight |
209.7 |
214.8 |
221.9 |
457.1 |
221.1 |
|
Mail |
7.2 |
7.2 |
6.8 |
13.9 |
6.7 |
|
Other Activities |
74.8 |
65.5 |
69.8 |
135.7 |
69.9 |
|
Total Revenue |
1,741.7 |
1,481.4 |
1,632.7 |
3,153.3 |
1,670.9 |
|
|
|
|
|
|
|
|
Fuel and Oil |
655.6 |
628.8 |
664.1 |
1,213.1 |
573.4 |
|
Employee benefits expenses |
228.8 |
261.6 |
214.7 |
540.4 |
253.4 |
|
Flight Service Expenses |
164.9 |
164.3 |
170.5 |
335.4 |
166.7 |
|
Crew Expenses |
47.3 |
45.2 |
45.6 |
89.1 |
44.1 |
|
Maintenance |
96.0 |
99.2 |
101.0 |
183.5 |
81.7 |
|
Depreciation & Amortization |
166.0 |
163.6 |
169.7 |
322.4 |
157.0 |
|
Lease of Aircraft |
38.2 |
41.3 |
41.0 |
95.7 |
47.0 |
|
Cost Inventories and Supplies |
75.9 |
62.0 |
91.3 |
143.7 |
72.7 |
|
Selling and Advertising Expenses |
49.5 |
48.5 |
52.6 |
92.0 |
43.7 |
|
Insurance Expense |
4.2 |
7.5 |
5.6 |
11.0 |
5.4 |
|
Impairment loss of assets |
0.6 |
2.0 |
8.8 |
20.2 |
- |
|
Impairment loss of aircraft |
5.8 |
0.0 |
6.0 |
0.0 |
11.7 |
|
Foreign Currency Adj |
-17.0 |
-28.9 |
-76.3 |
185.0 |
110.0 |
|
Total Operating Expense |
1,515.8 |
1,495.2 |
1,494.5 |
3,231.5 |
1,566.8 |
|
|
|
|
|
|
|
|
Interest Income |
3.8 |
12.4 |
3.5 |
7.3 |
3.9 |
|
Other Income |
12.5 |
21.2 |
21.7 |
43.6 |
23.1 |
|
Share of profits of associates |
3.0 |
1.3 |
0.0 |
4.7 |
1.3 |
|
Other expenses |
-72.7 |
-72.0 |
-28.7 |
-133.3 |
-64.8 |
|
Loss on Redemption of Debentures |
- |
0.0 |
- |
0.0 |
0.0 |
|
Finance costs |
-47.8 |
-47.1 |
-48.7 |
-89.7 |
-42.9 |
|
Net Income Before Taxes |
124.7 |
-98.0 |
86.0 |
-245.7 |
24.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
6.4 |
75.6 |
4.6 |
-7.9 |
4.0 |
|
Net Income After Taxes |
118.3 |
-173.6 |
81.4 |
-237.9 |
20.7 |
|
|
|
|
|
|
|
|
Non-controlling interests |
-0.7 |
-0.1 |
-0.2 |
-0.8 |
-0.5 |
|
Net Income Before Extra. Items |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
Net Income |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.05 |
-0.08 |
0.04 |
-0.11 |
0.01 |
|
Basic EPS Including ExtraOrdinary Item |
0.05 |
-0.08 |
0.04 |
-0.11 |
0.01 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
117.6 |
-173.8 |
81.2 |
-238.7 |
20.3 |
|
Diluted Weighted Average Shares |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.05 |
-0.08 |
0.04 |
-0.11 |
0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.05 |
-0.08 |
0.04 |
-0.11 |
0.01 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.04 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
89.7 |
0.0 |
|
Normalized Income Before Taxes |
131.2 |
-96.0 |
100.8 |
-225.5 |
36.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
6.8 |
76.3 |
5.4 |
-0.8 |
5.8 |
|
Normalized Income After Taxes |
124.4 |
-172.3 |
95.4 |
-224.7 |
30.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
123.7 |
-172.5 |
95.2 |
-225.6 |
30.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.06 |
-0.08 |
0.04 |
-0.10 |
0.01 |
|
Diluted Normalized EPS |
0.06 |
-0.08 |
0.04 |
-0.10 |
0.01 |
|
Interest Expense |
47.8 |
47.1 |
48.7 |
89.7 |
42.9 |
|
Amort. of Intangible |
3.2 |
- |
2.5 |
- |
- |
|
Depreciation |
145.2 |
- |
172.4 |
- |
- |
|
Depreciation & Amortization |
166.0 |
163.6 |
- |
322.4 |
157.0 |
|
Rental Expense |
21.6 |
- |
23.3 |
- |
- |
|
Tax expense |
1.3 |
- |
0.9 |
- |
- |
|
Current Tax - Total |
1.3 |
- |
0.9 |
- |
- |
|
Deferred tax |
5.2 |
- |
3.7 |
- |
- |
|
Deferred Tax - Total |
5.2 |
- |
3.7 |
- |
- |
|
Adjustment |
- |
- |
0.0 |
- |
- |
|
Income Tax - Total |
6.4 |
- |
4.6 |
- |
- |
|
Discount Rate - Domestic |
- |
4.20% |
4.20% |
- |
- |
|
Compensation Rate - Domestic |
- |
7.00% |
7.00% |
- |
- |
|
Compensation Rate - Foreign |
- |
5.00% |
5.00% |
- |
- |
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 |
Restated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
31.55 |
30.145 |
33.34 |
34.78 |
33.685 |
|
Auditor |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of DIA
International Auditing |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash on Hand/ At Banks |
528.2 |
1,249.9 |
428.9 |
214.1 |
766.3 |
|
ST Investments |
13.3 |
18.2 |
10.5 |
15.2 |
5.4 |
|
Cash and Fixed Deposit for Pension Fund |
- |
- |
- |
- |
135.5 |
|
Accounts Rec.,gross |
579.8 |
618.6 |
509.6 |
496.2 |
598.5 |
|
Provision for Doubtful Accounts |
-52.1 |
-53.8 |
-50.4 |
-41.1 |
-41.0 |
|
Spare Parts |
184.7 |
208.5 |
165.8 |
150.0 |
133.2 |
|
Veh. Spare Parts |
9.0 |
8.6 |
8.3 |
7.9 |
7.3 |
|
Unused Parts |
83.2 |
43.2 |
43.5 |
56.8 |
55.6 |
|
Fuel and Oil |
18.0 |
16.1 |
6.0 |
7.2 |
31.1 |
|
Goods for Sale |
6.7 |
6.3 |
5.5 |
6.9 |
5.9 |
|
Cabin Supplies |
5.2 |
6.7 |
9.3 |
9.0 |
8.2 |
|
Supplies and other consumables |
0.6 |
0.7 |
0.6 |
0.7 |
0.6 |
|
Stationary |
2.7 |
3.1 |
3.2 |
3.2 |
3.1 |
|
Inv. in Transit |
1.7 |
1.6 |
2.0 |
21.5 |
3.9 |
|
Damaged Inv. |
0.4 |
0.8 |
1.1 |
0.7 |
0.5 |
|
Provision for Obsolete Inventories |
-64.2 |
-64.5 |
-59.5 |
-69.2 |
-68.2 |
|
Provision for Damaages from Flood |
-3.6 |
0.0 |
- |
- |
- |
|
Prepaid Expenses |
331.8 |
301.4 |
133.8 |
135.3 |
144.0 |
|
Tax Refund |
10.3 |
8.8 |
6.6 |
7.1 |
45.1 |
|
Other current assets |
215.4 |
223.1 |
193.6 |
189.3 |
101.5 |
|
Non-Current Asset Classified as HFS |
8.3 |
9.1 |
- |
- |
- |
|
Rounding Adjustment |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Total Current Assets |
1,879.4 |
2,606.6 |
1,418.4 |
1,211.1 |
1,936.5 |
|
|
|
|
|
|
|
|
Investment in Co |
51.7 |
46.5 |
37.2 |
38.4 |
43.6 |
|
Other Investment |
5.7 |
2.6 |
2.6 |
2.5 |
3.1 |
|
Prepaid Aircraft and Engines |
674.5 |
596.5 |
- |
- |
- |
|
Aircraft |
4,550.9 |
4,691.9 |
4,244.5 |
4,507.0 |
4,137.2 |
|
Aircraft Lease |
5,240.0 |
5,421.8 |
5,138.4 |
4,108.6 |
4,226.3 |
|
Spare Parts |
922.2 |
919.5 |
932.8 |
842.4 |
839.0 |
|
Work in Progress |
90.0 |
10.3 |
- |
- |
- |
|
Land/Building |
109.8 |
114.9 |
565.7 |
539.6 |
565.1 |
|
Building Lease |
342.1 |
357.7 |
- |
- |
- |
|
Building Imp. |
147.1 |
154.5 |
- |
- |
- |
|
Other Plant |
935.1 |
972.7 |
887.7 |
849.0 |
844.2 |
|
Depreciation |
-6,514.1 |
-6,255.4 |
-5,365.3 |
-4,765.8 |
-4,462.1 |
|
Impairment |
- |
-146.8 |
- |
-127.2 |
- |
|
Intangible |
58.8 |
49.9 |
39.2 |
34.8 |
31.9 |
|
Accumulated Amortization of Intangible |
-39.0 |
-31.5 |
-19.7 |
-11.6 |
-5.2 |
|
Assets held fr. Sale |
- |
- |
26.5 |
0.0 |
- |
|
Deferred Tax Assets |
171.5 |
251.1 |
171.9 |
184.2 |
118.0 |
|
Deferred Charges |
64.4 |
63.7 |
- |
- |
40.8 |
|
Other non-current assets |
9.0 |
11.4 |
69.2 |
49.2 |
2.1 |
|
Rounding Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Assets |
8,698.7 |
9,837.7 |
8,149.2 |
7,462.2 |
8,320.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
233.4 |
213.6 |
197.5 |
189.0 |
298.8 |
|
Debenture |
148.0 |
381.1 |
328.6 |
215.6 |
341.4 |
|
LT Loans-Related |
65.7 |
68.7 |
62.1 |
16.4 |
80.1 |
|
LT Loans-Others |
64.3 |
0.0 |
12.0 |
0.0 |
- |
|
Capital Lease |
320.2 |
318.3 |
339.3 |
291.9 |
270.5 |
|
Promissory Notes |
- |
- |
15.0 |
18.7 |
31.2 |
|
Promissory Notes-Others |
- |
- |
7.5 |
11.5 |
- |
|
Bank Overdrafts/ST. Loans |
- |
- |
0.0 |
486.8 |
- |
|
Loans |
- |
- |
- |
- |
147.3 |
|
ST. Loans-Related |
- |
- |
33.5 |
131.1 |
- |
|
Provision for Contingent Liabilities |
- |
- |
13.7 |
13.2 |
- |
|
Accrued Expenses |
442.4 |
626.9 |
408.8 |
453.1 |
515.5 |
|
Accrued Dividend |
1.6 |
2.4 |
2.1 |
2.0 |
92.6 |
|
Income Tax Payable |
0.5 |
0.5 |
1.0 |
1.0 |
26.1 |
|
Unearned Revenue |
784.8 |
856.0 |
748.4 |
870.1 |
964.3 |
|
Deferred Income |
0.0 |
16.9 |
59.4 |
0.0 |
- |
|
Deferred Revenue |
0.1 |
0.1 |
- |
- |
- |
|
Taxes Payable |
22.1 |
26.0 |
- |
- |
- |
|
Other Account Payable |
67.4 |
73.7 |
- |
- |
- |
|
Other Liabilities |
89.6 |
94.0 |
184.2 |
134.1 |
128.2 |
|
Rounding Adjustment |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Liabilities |
2,240.1 |
2,678.2 |
2,413.1 |
2,834.5 |
2,896.0 |
|
|
|
|
|
|
|
|
Debentures |
733.0 |
592.0 |
879.9 |
1,020.7 |
1,068.7 |
|
Loans |
165.9 |
240.4 |
283.3 |
138.9 |
40.2 |
|
LT. Loans fr. Others |
1,498.3 |
1,436.4 |
677.9 |
0.0 |
- |
|
Lease |
1,514.8 |
1,815.6 |
2,040.4 |
1,878.5 |
2,095.1 |
|
Promissory Notes |
- |
- |
- |
- |
53.4 |
|
Promissory Notes-Related |
- |
- |
- |
14.4 |
- |
|
Promissory Notes-Others |
- |
- |
- |
7.2 |
- |
|
Total Long Term Debt |
3,912.1 |
4,084.4 |
3,881.5 |
3,059.7 |
3,257.5 |
|
|
|
|
|
|
|
|
Deferred tax liabilities |
1.8 |
0.0 |
- |
- |
- |
|
Employee benefits obligation |
337.0 |
309.4 |
- |
- |
- |
|
Staff pension fund |
144.6 |
145.0 |
141.2 |
137.4 |
147.6 |
|
Provision for LT. Contingent Liabilities |
48.4 |
84.8 |
116.4 |
111.4 |
- |
|
Others |
4.2 |
2.0 |
0.0 |
0.0 |
- |
|
Non-controlling Interests |
8.4 |
9.6 |
8.9 |
8.0 |
8.2 |
|
Total Liabilities |
6,696.5 |
7,313.5 |
6,561.1 |
6,151.0 |
6,309.2 |
|
|
|
|
|
|
|
|
Share Capital |
691.8 |
724.1 |
509.6 |
488.5 |
504.3 |
|
Share Premium |
809.8 |
847.5 |
469.0 |
449.6 |
464.2 |
|
Unrealised Gain |
- |
- |
- |
0.0 |
0.0 |
|
Legal Reserve |
78.3 |
81.9 |
51.0 |
48.9 |
50.5 |
|
Retained Earning-Unappropriated |
422.3 |
870.7 |
558.5 |
324.2 |
992.2 |
|
Total Equity |
2,002.2 |
2,524.3 |
1,588.1 |
1,311.2 |
2,011.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
8,698.7 |
9,837.7 |
8,149.2 |
7,462.2 |
8,320.5 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
2,182.8 |
2,182.8 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Total Common Shares Outstanding |
2,182.8 |
2,182.8 |
1,698.9 |
1,698.9 |
1,698.9 |
|
Deferred Income |
0.0 |
16.9 |
59.4 |
0.0 |
- |
|
Deferred Revenue |
0.1 |
0.1 |
- |
- |
- |
|
Unearned Revenue |
817.9 |
821.4 |
748.4 |
870.1 |
964.3 |
|
Accumulated Amortiation of Intangible |
39.0 |
31.5 |
19.7 |
11.6 |
5.2 |
|
Full-Time Employees |
25,848 |
25,884 |
27,002 |
- |
27,285 |
|
Current maturities |
- |
- |
764.6 |
- |
723.1 |
|
Total Long Term Debt, Supplemental |
- |
- |
764.6 |
- |
723.1 |
|
Operating Lease Pymts. Due within 1Year |
131.4 |
- |
- |
- |
- |
|
Operating Lease Payments Due in Year 5 |
1,180.8 |
- |
- |
- |
- |
|
Operating Lease Pymts. - Remaining |
3,786.5 |
- |
- |
- |
- |
|
Total Operating Leases |
5,098.7 |
- |
- |
- |
- |
|
Discount Rate - Domestic |
4.20% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
7.00% |
- |
- |
- |
- |
|
Compensation Rate - Foreign |
5.00% |
- |
- |
- |
- |
|
Employee Benefit Obligations |
-337.0 |
-309.4 |
- |
- |
- |
|
Pension Fund Contribution |
-144.6 |
-145.0 |
-141.2 |
-137.4 |
-147.6 |
|
Net Assets Recognized on Balance Sheet |
-481.5 |
-454.4 |
-141.2 |
-137.4 |
-147.6 |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate |
30.915001 |
31.55 |
31.085 |
30.725 |
30.245 |
|
|
|
|
|
|
|
|
Cash on Hand/at Banks |
623.6 |
528.2 |
658.5 |
847.3 |
1,107.5 |
|
Short Term Investment |
44.3 |
13.3 |
14.2 |
12.9 |
10.9 |
|
Accounts Rec.,gross |
590.5 |
579.8 |
558.9 |
548.8 |
606.0 |
|
Provision of Doutful Debt |
-52.8 |
-52.1 |
-52.8 |
-52.9 |
-53.3 |
|
Inventories and supplies, net |
259.7 |
244.4 |
239.9 |
240.4 |
249.8 |
|
Prepaid expenses and deposits |
340.8 |
331.8 |
338.1 |
323.6 |
316.3 |
|
Tax Refund |
257.8 |
10.3 |
14.3 |
12.9 |
9.0 |
|
Other current assets |
- |
215.4 |
199.9 |
209.5 |
228.9 |
|
Rounding Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Non-current assets classified as held fo |
17.5 |
8.3 |
- |
- |
- |
|
Total Current Assets |
2,081.4 |
1,879.4 |
1,971.0 |
2,142.5 |
2,475.1 |
|
|
|
|
|
|
|
|
Investment in Associated Co |
40.7 |
51.7 |
45.8 |
47.3 |
47.6 |
|
LT. Investment to Others |
5.9 |
5.7 |
4.2 |
4.2 |
2.6 |
|
Prepaid Aircraft and Spare Engines |
731.0 |
674.5 |
772.6 |
695.8 |
- |
|
Aircraft |
4,705.0 |
4,550.9 |
4,440.3 |
4,610.0 |
5,282.7 |
|
Aircraft Lease |
5,282.1 |
5,240.0 |
5,259.9 |
5,328.6 |
5,410.7 |
|
Spare Parts |
958.1 |
922.2 |
900.1 |
920.7 |
957.8 |
|
Work in Progress |
86.9 |
90.0 |
76.9 |
71.9 |
- |
|
Land/Building |
30.4 |
109.8 |
111.4 |
112.7 |
625.6 |
|
Building |
81.7 |
- |
- |
- |
- |
|
Leasehold Buildings |
349.1 |
342.1 |
347.3 |
351.6 |
- |
|
Builidng Improvement |
150.0 |
147.1 |
148.7 |
152.1 |
- |
|
Other Plant |
967.7 |
935.1 |
946.6 |
955.3 |
996.6 |
|
Accumulated Depreciation |
-6,648.7 |
-6,514.1 |
-6,468.7 |
-6,534.4 |
-6,515.2 |
|
Intangible, Gross |
71.0 |
58.8 |
58.1 |
54.8 |
55.3 |
|
Accumulated Amortization of Intangible |
-45.1 |
-39.0 |
-37.3 |
-35.3 |
-33.7 |
|
Goodwill |
2.3 |
- |
- |
- |
- |
|
Assets Held fr. Sale |
- |
- |
8.7 |
- |
4.5 |
|
Deferred Inc Tax |
171.0 |
171.5 |
250.4 |
254.7 |
254.3 |
|
Deferred Charges |
69.2 |
64.4 |
61.6 |
62.6 |
60.0 |
|
Others |
12.8 |
9.0 |
15.1 |
16.5 |
15.9 |
|
Rounding Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets |
9,102.3 |
8,698.7 |
8,912.5 |
9,211.6 |
9,639.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
250.5 |
233.4 |
259.8 |
287.8 |
297.2 |
|
Curr. Port. of Debentures |
145.6 |
148.0 |
182.0 |
184.1 |
385.4 |
|
Curr. Port. LT. Loans-Others |
119.7 |
64.3 |
22.6 |
65.1 |
- |
|
Curr. L/T Loan fr. Related Parties |
67.0 |
65.7 |
66.7 |
67.4 |
68.5 |
|
Curr. Port. of Financial Lease |
303.4 |
320.2 |
397.9 |
324.1 |
321.5 |
|
Accrued Expenses |
441.0 |
442.4 |
435.9 |
464.8 |
446.6 |
|
Accrued Dividend |
1.7 |
1.6 |
1.7 |
2.6 |
2.4 |
|
Acc. Income Tax |
2.2 |
0.5 |
0.2 |
0.8 |
6.8 |
|
Unearned Revenue |
724.1 |
784.8 |
749.5 |
776.7 |
800.5 |
|
Deferred Income |
- |
0.0 |
0.7 |
4.1 |
8.4 |
|
Others |
245.2 |
179.2 |
187.3 |
195.7 |
185.4 |
|
Total Current Liabilities |
2,300.4 |
2,240.1 |
2,304.3 |
2,373.4 |
2,522.7 |
|
|
|
|
|
|
|
|
Debentures |
893.6 |
733.0 |
824.4 |
834.1 |
584.5 |
|
Loans fr. Related |
151.5 |
165.9 |
184.4 |
202.9 |
222.6 |
|
Loans fr. Others |
1,474.9 |
1,498.3 |
1,370.3 |
1,360.5 |
1,431.6 |
|
Liabilities Under Financial Lease |
1,537.0 |
1,514.8 |
1,487.1 |
1,723.0 |
1,776.9 |
|
Total Long Term Debt |
4,057.1 |
3,912.1 |
3,866.2 |
4,120.4 |
4,015.7 |
|
|
|
|
|
|
|
|
Pension Fund |
149.1 |
144.6 |
151.4 |
151.9 |
151.4 |
|
Long-term provisions |
48.3 |
48.4 |
47.5 |
83.2 |
84.5 |
|
Deferred tax liabilities |
2.1 |
1.8 |
2.2 |
- |
- |
|
Employee benefit obligation |
353.7 |
337.0 |
321.1 |
317.7 |
315.6 |
|
Other non - current liabilities |
3.4 |
4.2 |
5.9 |
5.0 |
3.6 |
|
Minority Int. |
24.8 |
8.4 |
8.4 |
8.3 |
10.0 |
|
Total Liabilities |
6,939.0 |
6,696.5 |
6,707.0 |
7,060.0 |
7,103.4 |
|
|
|
|
|
|
|
|
Share Capital |
706.1 |
691.8 |
702.2 |
710.4 |
721.7 |
|
Share Premium |
826.4 |
809.8 |
821.9 |
831.5 |
844.7 |
|
Legal Reserve |
79.9 |
78.3 |
79.5 |
80.4 |
81.7 |
|
Unappropriated |
549.2 |
422.3 |
601.9 |
529.3 |
888.3 |
|
Other Component of Equity |
1.8 |
- |
- |
- |
- |
|
Total Equity |
2,163.3 |
2,002.2 |
2,205.5 |
2,151.7 |
2,536.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
9,102.3 |
8,698.7 |
8,912.5 |
9,211.6 |
9,639.7 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
|
Total Common Shares Outstanding |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
2,182.8 |
|
Unearned Revenue |
724.1 |
784.8 |
749.5 |
776.7 |
800.5 |
|
Deferred Income |
- |
0.0 |
0.7 |
4.1 |
8.4 |
|
Accumulated Amortiation of Intangible |
45.1 |
39.0 |
37.3 |
35.3 |
33.7 |
|
Full-Time Employees |
- |
25,848 |
- |
- |
- |
|
Current maturities |
- |
- |
- |
640.8 |
775.5 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
640.8 |
775.5 |
|
Within in 1Year |
140.4 |
131.4 |
- |
107.1 |
- |
|
Within in 5 Year |
849.9 |
1,180.8 |
- |
531.6 |
- |
|
More Than 5 Year |
4,017.2 |
3,786.5 |
- |
985.9 |
- |
|
Total Operating Leases |
5,007.5 |
5,098.7 |
- |
1,624.7 |
- |
|
Discount Rate - Domestic |
- |
4.20% |
4.20% |
4.20% |
4.20% |
|
Compensation Rate - Domestic |
- |
7.00% |
7.00% |
7.00% |
7.00% |
|
Compensation Rate - Foreign |
- |
5.00% |
5.00% |
5.00% |
5.00% |
|
Pension Fund |
-149.1 |
-144.6 |
-151.4 |
-151.9 |
-151.4 |
|
Employee Benefits Obligation |
-353.7 |
-337.0 |
-321.1 |
-317.7 |
-315.6 |
|
Net Assets Recognized on Balance Sheet |
-502.8 |
-481.5 |
-472.4 |
-469.6 |
-466.9 |
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 |
Updated Normal |
Restated 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 |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of the
Auditor General |
Office of DIA
International Auditing |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
-259.7 |
525.1 |
236.1 |
-707.3 |
185.1 |
|
Depreciation |
655.7 |
637.9 |
612.4 |
607.8 |
532.6 |
|
Dividend Income |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Joint Ventures |
-6.0 |
-8.1 |
0.2 |
2.0 |
-3.0 |
|
Interest Income |
-23.3 |
-5.8 |
-5.2 |
-14.8 |
-21.8 |
|
Interest Expense |
185.5 |
162.8 |
167.1 |
164.4 |
143.8 |
|
Sale of Assets |
-0.3 |
-3.0 |
-6.8 |
-11.2 |
-25.9 |
|
Loss on Disposal of Aircraft |
0.0 |
4.7 |
0.0 |
- |
- |
|
Gain on Sale of Marketable Securities |
- |
- |
- |
-0.1 |
-0.1 |
|
Amort. of Expenses |
-13.4 |
-8.2 |
-18.4 |
-10.1 |
0.0 |
|
Provision for Contingent Liabilities |
0.0 |
0.1 |
0.0 |
- |
- |
|
Employee benefits obligation |
42.8 |
27.3 |
- |
- |
- |
|
Foreign Currency Ex. |
46.9 |
-259.5 |
-74.8 |
134.5 |
39.7 |
|
Reserve for Obsolated Goods |
2.9 |
-0.2 |
2.8 |
3.2 |
1.1 |
|
Allow./Doubtful A/C |
1.8 |
-1.8 |
7.4 |
1.3 |
3.2 |
|
Impairment loss of aircrafts |
5.9 |
5.4 |
0.0 |
132.6 |
0.0 |
|
Impairment loss of assets |
30.8 |
10.0 |
15.4 |
9.7 |
34.9 |
|
Accounts Receivables |
15.1 |
-58.6 |
13.9 |
69.8 |
-10.4 |
|
Inventories |
-30.9 |
-24.1 |
14.1 |
-23.5 |
-29.3 |
|
Prepaid Expenses |
-28.2 |
-152.9 |
3.2 |
10.2 |
-7.3 |
|
Tax Refund |
6.3 |
-0.2 |
8.1 |
44.9 |
-32.6 |
|
Other Current Assets |
3.6 |
-10.4 |
3.6 |
42.3 |
-31.7 |
|
Deferred Income Tax |
1.3 |
0.0 |
0.0 |
-0.6 |
0.0 |
|
Assets for Sales |
0.1 |
16.0 |
-25.7 |
- |
- |
|
Other Asset |
1.7 |
0.8 |
-5.0 |
-1.6 |
-2.0 |
|
Acconts Payable |
-91.0 |
-4.3 |
0.7 |
-81.1 |
91.1 |
|
Accrued Expenses |
-160.4 |
160.2 |
-22.1 |
-42.5 |
33.0 |
|
Deferred Income |
-16.7 |
-46.1 |
57.7 |
- |
- |
|
Staff Pension |
6.2 |
-10.6 |
-2.0 |
-5.8 |
9.9 |
|
Unearned Revenue |
-30.4 |
14.9 |
-144.4 |
-65.8 |
212.9 |
|
Provision for LT. Contingent Liabilities |
-36.4 |
-41.8 |
0.2 |
116.1 |
0.0 |
|
Payment of income tax |
-9.3 |
-38.5 |
-7.8 |
-34.8 |
-108.1 |
|
Cash from Operating Activities |
300.7 |
891.0 |
830.8 |
339.7 |
1,015.3 |
|
|
|
|
|
|
|
|
Concessions for Acq. |
2.3 |
1.9 |
- |
- |
- |
|
Capital Expenditure |
-404.7 |
-302.0 |
-478.5 |
-641.4 |
-349.9 |
|
Purchase of Intangible |
-9.6 |
-3.3 |
-2.9 |
-4.1 |
-17.2 |
|
Received-Transfer of right of Aircraft |
19.2 |
10.1 |
37.8 |
9.5 |
14.5 |
|
Sales of Fixed Assets |
9.4 |
11.8 |
7.4 |
21.0 |
55.7 |
|
Interest Received |
21.8 |
5.0 |
6.9 |
14.1 |
20.5 |
|
Dividends Received |
3.9 |
3.1 |
2.6 |
2.0 |
4.3 |
|
Investment Decrease |
- |
0.0 |
- |
- |
2.5 |
|
Investment Increase |
-8.6 |
- |
0.0 |
0.0 |
- |
|
Received fr. Current Invest. Secs. |
4.4 |
- |
5.2 |
- |
- |
|
Received fr. Current Invest. Secs. |
- |
-6.3 |
- |
-9.8 |
-2.2 |
|
Cash from Investing Activities |
-361.8 |
-279.7 |
-421.5 |
-608.6 |
-271.7 |
|
|
|
|
|
|
|
|
Cash Rec. from Debenture |
328.0 |
0.0 |
139.5 |
209.8 |
219.0 |
|
Short Term Loan |
- |
- |
- |
496.9 |
137.3 |
|
Received LT Loans |
288.7 |
692.4 |
997.4 |
135.7 |
101.5 |
|
Cash Rec. Issued Ordinary Share |
0.0 |
152.5 |
0.0 |
0.0 |
0.0 |
|
Receipt from Issued Preferred Shares |
0.0 |
0.0 |
- |
- |
- |
|
Cash Rec. From Premium on Ordinary Share |
0.0 |
312.4 |
0.0 |
0.0 |
-0.2 |
|
Repayment ST Loan |
0.0 |
-35.2 |
-592.0 |
0.0 |
-375.0 |
|
Cash Payment. for Debenture |
-378.5 |
-345.3 |
-218.5 |
-344.6 |
0.0 |
|
Repayment to LT Loan |
-588.0 |
-436.7 |
-342.5 |
-460.0 |
-238.4 |
|
Promissory Notes |
0.0 |
-23.6 |
-30.6 |
-31.5 |
-30.7 |
|
Cash paid for loan interest |
-189.3 |
-175.9 |
-158.2 |
-168.4 |
-88.4 |
|
Dividend Paid |
-90.1 |
-13.3 |
0.0 |
-114.3 |
-83.1 |
|
Dividend Paid to Minority Interest |
-1.9 |
-1.8 |
-1.6 |
-1.8 |
- |
|
Cash from Financing Activities |
-631.1 |
125.4 |
-206.4 |
-278.2 |
-358.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
0.2 |
-3.3 |
-1.8 |
7.0 |
|
Net Change in Cash |
-689.3 |
737.0 |
199.6 |
-548.9 |
392.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,236.0 |
450.7 |
216.9 |
772.0 |
361.1 |
|
Net Cash - Ending Balance |
546.7 |
1,187.7 |
416.5 |
223.1 |
753.6 |
|
Cash Interest Paid |
189.3 |
175.9 |
158.2 |
162.8 |
88.4 |
|
Cash Taxes Paid |
9.3 |
38.5 |
7.8 |
8.1 |
108.1 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
THB |
THB |
THB |
THB |
THB |
|
Exchange Rate (Period
Average) |
31.004083 |
30.484713 |
30.310418 |
30.401066 |
30.538187 |
|
|
|
|
|
|
|
|
Net Income |
124.7 |
-259.7 |
-160.9 |
-245.7 |
24.7 |
|
Depreciation |
166.0 |
655.7 |
492.1 |
322.4 |
157.0 |
|
Dividend Income |
- |
0.0 |
0.0 |
0.0 |
- |
|
Joint Ventures/Invest. by Equity Method |
-3.0 |
-6.0 |
-4.7 |
-4.7 |
-1.3 |
|
Interest Income |
-3.8 |
-23.3 |
-10.7 |
-7.3 |
-3.9 |
|
Interest Expense |
47.8 |
185.5 |
138.4 |
89.7 |
42.9 |
|
Sale of Assets |
-0.2 |
-0.3 |
-0.3 |
-0.2 |
-0.1 |
|
Other Non - current Liabilities |
0.0 |
- |
0.0 |
0.0 |
- |
|
Foreign Currency Ex. |
-22.0 |
46.9 |
96.7 |
165.5 |
100.0 |
|
Employee benefits obligation |
7.4 |
42.8 |
21.6 |
14.4 |
7.1 |
|
Provision for Obsolete Inventories |
3.0 |
- |
- |
1.0 |
0.2 |
|
Doubtful Accounts |
1.5 |
1.8 |
1.6 |
0.8 |
0.3 |
|
Impairment loss of aircrafts |
5.8 |
5.9 |
6.0 |
- |
- |
|
Impairment loss of assets |
0.6 |
30.8 |
29.0 |
20.2 |
11.7 |
|
Loss on Disposal of Aircarft |
- |
0.0 |
- |
- |
- |
|
Amort. of Expenses |
- |
-13.4 |
- |
- |
- |
|
Provision for Contingent Liabilities |
- |
0.0 |
- |
- |
- |
|
Reserve |
- |
2.9 |
3.0 |
- |
- |
|
Accounts Receivables |
2.5 |
15.1 |
49.2 |
65.5 |
15.2 |
|
Inventories |
-13.0 |
-30.9 |
-19.1 |
-14.8 |
-19.5 |
|
Prepaid Expenses and Deposits |
-11.6 |
-28.2 |
-36.7 |
-22.3 |
-16.1 |
|
Tax Refund |
-0.1 |
6.3 |
-0.3 |
-0.3 |
-0.2 |
|
Other Current Assets |
-16.2 |
3.6 |
17.8 |
10.9 |
-5.5 |
|
Assets for sales |
-9.0 |
0.1 |
0.1 |
9.0 |
4.5 |
|
Other Assets |
1.2 |
1.7 |
-4.1 |
-5.4 |
-4.6 |
|
Deferred Income Tax |
- |
1.3 |
- |
- |
- |
|
Deferred Charges |
-5.9 |
- |
-6.9 |
-4.8 |
1.1 |
|
Accounts Payable |
-62.8 |
-91.0 |
-59.2 |
16.3 |
84.1 |
|
Accrued Expenses |
27.1 |
-160.4 |
-177.4 |
-138.4 |
-177.2 |
|
Deferred Income |
0.0 |
-16.7 |
-16.1 |
-12.6 |
-8.4 |
|
Staff Pension |
1.6 |
6.2 |
11.0 |
9.7 |
6.8 |
|
Unearned Revenue |
-74.0 |
-30.4 |
-76.1 |
-64.9 |
-45.9 |
|
Other non-current liabilities |
-0.8 |
- |
-37.0 |
- |
- |
|
Provision for Contingent Liabilities |
- |
-36.4 |
- |
- |
- |
|
Payment of income tax |
-2.0 |
-9.3 |
-7.5 |
-4.3 |
-1.8 |
|
Cash from Operating Activities |
164.7 |
300.7 |
249.2 |
199.8 |
171.2 |
|
|
|
|
|
|
|
|
Cash received from operational assistanc |
- |
- |
- |
3.0 |
1.5 |
|
Concession for Aircraft Acq. |
0.0 |
2.3 |
4.0 |
- |
- |
|
Capital Expenditure |
-103.5 |
-404.7 |
-318.5 |
-239.5 |
-114.1 |
|
Purchase of Intangible Assets |
-0.1 |
-9.6 |
-7.5 |
-5.9 |
-5.5 |
|
Sale of Assets |
0.2 |
9.4 |
9.4 |
9.2 |
4.5 |
|
Cash received from investment in subsidi |
6.4 |
- |
- |
- |
- |
|
Interest Income |
2.1 |
21.8 |
9.7 |
6.0 |
2.9 |
|
Dividends Income |
- |
3.9 |
4.0 |
3.0 |
- |
|
Fixed Asset Decrease |
9.1 |
19.2 |
0.0 |
- |
0.0 |
|
Investment Decrease |
3.2 |
- |
- |
- |
7.3 |
|
Investment Increase |
- |
-8.6 |
-1.6 |
-1.6 |
- |
|
Cash Rec. from Sale of Marketable Secur. |
- |
4.4 |
3.7 |
5.1 |
- |
|
Cash from Investing Activities |
-82.6 |
-361.8 |
-296.9 |
-220.8 |
-103.5 |
|
|
|
|
|
|
|
|
Proc./Debentures |
145.1 |
328.0 |
263.9 |
263.1 |
- |
|
Long Term Loan |
10.0 |
288.7 |
66.0 |
16.4 |
0.0 |
|
Proc./Ordinary Share |
- |
0.0 |
0.0 |
- |
- |
|
Receipt from Issued Preferred Shares |
- |
0.0 |
0.0 |
- |
- |
|
Cash paid for repayment of debenture |
-5.5 |
-378.5 |
-199.6 |
-199.0 |
- |
|
Repayment to LT Loan |
-111.2 |
-588.0 |
-424.9 |
-262.3 |
-151.0 |
|
Cash paid for loan interest |
-36.9 |
-189.3 |
-134.9 |
-98.3 |
-45.6 |
|
Dividend Paid |
0.0 |
-90.1 |
-90.6 |
-89.4 |
0.0 |
|
Dividend Paid to minority Interest |
- |
-1.9 |
-1.9 |
-1.9 |
- |
|
Repayment ST Loans |
- |
0.0 |
0.0 |
- |
0.0 |
|
Premiums on Shares |
- |
0.0 |
0.0 |
- |
- |
|
Promissory Notes repaid |
- |
0.0 |
0.0 |
- |
0.0 |
|
Cash from Financing Activities |
1.6 |
-631.1 |
-522.0 |
-371.3 |
-196.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.6 |
2.9 |
1.8 |
9.2 |
-8.1 |
|
Net Change in Cash |
84.3 |
-689.3 |
-567.8 |
-383.1 |
-137.0 |
|
|
|
|
|
|
|
|
Cash and cash equivalents at the beginni |
537.5 |
1,236.0 |
1,243.1 |
1,239.4 |
1,233.9 |
|
Cash and Cash Equivalents at the End of |
621.8 |
546.7 |
675.3 |
856.4 |
1,096.8 |
|
Cash Interest Paid |
36.9 |
189.3 |
134.9 |
98.3 |
45.6 |
|
Cash Taxes Paid |
2.0 |
9.3 |
7.5 |
4.3 |
1.8 |
Geographic Segments
Financials in: As Reported (mil)
|
Annual |
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Geographic Segments
Financials in: As Reported (mil)
|
Interim |
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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.57.22 |
|
UK Pound |
1 |
Rs.89.42 |
|
Euro |
1 |
Rs.71.46 |
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 SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.