Performance Highlights

FINANCIAL PERFORMANCE IN FY22

Overall operating revenue
THB mn
(up by 11.0% YoY)
Gross profit
THB mn
representing 44.9% of operating revenue
SG&A expenses
THB mn
representing 27.8% of operating revenue
Reported net profit
THB mn
(up by 15.4% YoY)

FINANCIAL HIGHLIGHTS

TOTAL OPERATING REVENUE
(Unit: THB mn)
TOTAL ASSETS
(Unit: THB mn)
TOTAL PROFITS
(Unit: THB mn)
Figures in THB mn
Consolidated Income Statement
2019 2020 2021 2022
Operating Revenue 11,130 12,589 14,136 15,686
Gross profit 4,578 4,986 5,911 7,040
Selling and Admin. exp (SGA) 3,176 3,299 3,769 4,359
SGA (% to revenue) 28.5% 26.2% 26.7% 27.8%
Net Profit (Adjusted) of core business1 1,293 1,462 1,882 2,290
(% to revenue) 11.6% 11.6% 13.3% 14.6%
Long term employee benefit (41) - - -
Net foreign exchange gain/(loss)7 (78) 18 119 2
Net losses from new businesses2 (36) (91) (60) (52)
Net profits 1,139 1,388 1,941 2,240
Operating cash inflow 1,495 1,629 2,727 1,997
% to net profits 131.3% 117.4% 140.5% 89.1%
Cash cycle (days) 129 126 124 119
Revenue by segments
Mega We Care  business 5,476 5,848 6,909 8,053
Maxxcare business 5,414 6,502 6,906 7,320
OEM 239 239 320 314
Figures in THB mn
Consolidated Balance Sheet
2019 2020 2021 2022
Cash and bank balances3 1,455 1,218 2,531 2,789
Trade accounts receivable 2,539 2,507 2,557 3,107
Inventories 2,868 3,489 3,823 4,109
Property, plant and equipment4 1,802 1,985 1,874 1,936
Intangible assets5 992 1,312 1,353 1,329
Other assets 877 1,046 1,134 1,376
Total Assets 10,533 11,557 13,272 14,646
Debt 888 499 168 229
Trade Payables 2,020 2,048 2,527 2,793
Other Liabilities 1,450 2,031 2,552 2,847
Total Outside Liabilities 4,358 4,578 5,247 5,870
Shareholder Equity 6,175 6,979 8,025 8,777
Total Liabilities and Equity 10,533 11,557 13,272 14,646
Key Balance Sheet elements
Net cash/(debt) 567 718 2,363 2,560
Net investment capex6 540 646 142 279
Net debt/Equity (times) (0.09) (0.10) (0.32) (0.30)

Remark:

  1. Net profit (Adjusted) are net profit adjusted for non-recurring items, normalized forex gains or losses, impacts from newly started businesses (includes startups and projects with gestation) to reflect normal business performance.
  2. Net losses from new businesses in 2020 includes impact of TH 41 mn arising from termination of a joint venture and losses from newly acquired subsidiary in Indonesia amounting to THB 31.5 mn; for more details, please see the MD&A FY20.
  3. Cash and bank balances as at balance sheet dates include non - restricted term deposits with banks.
  4. Property, plant and equipment includes assets classified as investment property in audited financial statement.
  5. Intangible assets includes goodwill arising from business combination.
  6. Net investment capex includes investment in property plant and equipments, business acquisitions and investment in joint ventures and associates.
  7. In FY 2022 normalized, based on best estimates, for dual currency rate effect in Myanmar and The Forex losses arising from delay in remitting funds from Myanmar.