

	2019	2020	2021

Statement of Financial Position (Million Baht)
Total Assets	33,473	31,028	38,947
Cash under Management ⁽⁴⁾	7,085	7,700	11,483
Other Current Assets	5,229	4,623	7,279
Tangible Assets ⁽⁵⁾	13,946	14,334	15,481
Other Non-Current Assets	7,213	4,372	4,704
Total Liabilities	10,874	11,838	14,547
Interest Bearing Debt ⁽⁶⁾	8,260	9,216	10,451
Other Liabilities	2,614	2,622	4,096
Total Equity	22,599	19,191	24,400

Key Financial Ratio
Gross Margin ⁽⁷⁾ (%)	20.4%	21.1%	31.7%
EBITDA Margin (%)	12.4%	5.5%	24.7%
Net Profit Margin (to TTA) - normalized (%)	3.6%	-15.2%	17.4%
Net Profit Margin - normalized (%)	1.4%	-26.3%	16.7%
Return on Total Assets - normalized (%)	0.6%	-10.4%	10.5%
Return on Equity - normalized (%)	3.0%	-11.3%	20.6%
Current Ratio (Times)	3.15	2.25	2.83
Debt to Equity Ratio ^{(8), (9)} (Times)	0.17	0.26	0.10
Net interest Bearing Debt to Equity ^{(10), (11)} (Times)	0.05	0.08	-0.04



	2019	2020	2021

EPS and Dividend Payment
Earnings per Share (Baht)	0.31	(1.07)	2.12
Dividend per Share (Baht)	0.06	0.02	⁽¹²⁾
Number of Shares (Million Shares)*	1,822	1,822	1,822

*As the end of period

Note
⁽¹⁾ EBITDA = Earnings before interest, tax, depreciation, and amortization (excluding non-recurring items)
⁽²⁾ Including holding and elimination
⁽³⁾ Normalized net profits/ (losses) to TTA = Net profits/ (losses) to TTA – non-recurring items
⁽⁴⁾ Cash, cash equivalents, and other current financial assets
⁽⁵⁾ Property, plant, equipment, and investment properties
⁽⁶⁾ Excluding lease liabilities
⁽⁷⁾ Including amortization of vessel drydocking but excluding depreciation and other amortization
⁽⁸⁾ Financial Covenant for TTA221A Debentures, of which threshold is 1.5 times.
⁽⁹⁾ Debt to equity = (Interest bearing debt including lease liabilities - cash and cash equivalents)/ Total shareholder’s equity
⁽¹⁰⁾ Financial Covenant for TTA233A, TTA239A, TTA252A, and TTA265A Debentures, of which threshold is 2.0 times.
⁽¹¹⁾ Net interest bearing debt to equity = (Interest bearing debt excluding lease liabilities – cash and cash equivalents – other current financial assets)/ Total shareholder’s equity
⁽¹²⁾ Subject to the approval of shareholders at the 1/2022 AGM on 27 April 2022