Key financial ratios | 3Q 16/17 | 2Q 16/17 | 1Q 16/17 | 4Q 15/16 | 3Q 15/16 |

Profitability ratios |
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Gross operating profit margin (%) | 53.5% | 57.9% | 58.8% | 56.5% | 58.8% |

Selling and administrative expenses to operating sales ratio (%) | 27.1% | 28.7% | 25.7% | 22.4% | 22.8% |

EBITDA margin (%) | 42.0% | 45.6% | 50.5% | 19.3% | 46.0% |

Operating EBITDA margin (%) | 35.2% | 36.2% | 40.9% | 42.1% | 43.6% |

Net recurring profit margin (%) | 22.1% | 23.6% | 26.5% | 34.9% | 44.1% |

ROA (%) | 2.4% | 3.1% | 2.8% | 6.7% | 7.5% |

ROE (%) | 3.8% | 4.2% | 3.8% | 8.9% | 9.4% |

Leverage |
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Total liability to total asset (times) | 0.49x | 0.34x | 0.28x | 0.28x | 0.22x |

Total liability to total equity (times) | 0.97x | 0.51x | 0.39x | 0.39x | 0.28x |

Interest bearing debt to equity (times) | 0.77x | 0.31x | 0.20x | 0.20x | 0.10x |

Net debt to equity (times) | 0.32x | 0.26x | 0.13x | 0.15x | 0.06x |

Net debt to operating EBITDA (times) | 5.86x | 4.68x | 2.39x | 2.70x | 1.16x |

Interest coverage (times) | 3.55x | 6.95x | 7.22x | 7.76x | 11.19x |

Per share ratios ^{1} |
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Earnings per share (THB) | 0.0395 | 0.0463 | 0.0463 | 0.0037 | 0.0513 |

Operating cash flow per share (THB) | (0.073) | (0.211) | 0.027 | 0.053 | (0.080) |

Free cash flow^{(*)} per share (THB) |
(0.112) | (0.231) | (0.001) | 0.027 | (0.175) |

Enterprise value per share (THB)^{(**)} |
10.11 | 9.91 | 10.40 | 9.73 | 9.56 |

Book value per share (THB) | 3.94 | 3.88 | 4.10 | 3.97 | 4.22 |

^{1} per share ratios, calculated based on numbers of shares with par value at THB 4 per share

^{(*)} Free cash flow used in calculation excludes non-recurring items

^{(**)} Based on share price as of end of period

Key financial ratios | 2015/16 | 2014/15 ^{+} |
2013/14 ^{+} |
2012/13 | 2011/12 |

Profitability ratios |
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Gross operating profit margin (%) | 57.3% | 55.5% | 51.4% | 48.8% | 47.2% |

Selling and administrative expenses to operating sales ratio (%) | 22.9% | 22.0% | 19.5% | 16.6% | 15.8% |

EBITDA margin (%) | 59.6% | 52.0% | 77.0% | 53.3% | 57.8% |

Operating EBITDA margin (%) | 41.6% | 39.9% | 36.3% | 49.0% | 50.7% |

Net recurring profit margin (%) | 33.7% | 34.7% | 25.4% | 9.7% | 13.2% |

ROA (%) | 6.8% | 5.0% | 17.6% | 2.9% | 3.3% |

ROE (%) | 9.4% | 6.4% | 22.7% | 3.8% | 6.1% |

Leverage |
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Total liability to total asset (times) | 0.28x | 0.22x | 0.22x | 0.25x | 0.45x |

Total liability to total equity (times) | 0.39x | 0.28x | 0.29x | 0.33x | 0.81x |

Interest bearing debt to equity (times) | 0.20x | 0.09x | 0.11x | 0.24x | 0.71x |

Net debt to equity (times) | 0.15x | (0.11)x | (0.03)x | 0.17x | 0.67x |

Net debt to operating EBITDA (times) | 2.70x | (1.96)x | (0.65)x | 1.66x | 6.32x |

Interest coverage (times) | 7.35x | 8.68x | 4.94x | 4.07x | 2.73x |

Per share ratios ^{1} |
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Earnings per share (THB) | 0.3501 | 0.2482 | 1.0779 | 0.1720 | 0.2311 |

Operating cash flow per share (THB) | 0.028 | -0.006 | 0.097 | 0.466 | 0.193 |

Free cash flow^{(*)} per share (THB) |
-0.110 | -0.149 | -0.046 | 0.270 | (0.094) |

Enterprise value per share (THB)^{(**)} |
9.73 | 8.83 | 8.55 | 10.65 | 1.26 |

Book value per share (THB) | 3.97 | 4.38 | 5.09 | 5.05 | 4.05 |

^{+} Restated to reflect effects from TFRIC 12 and TFRIC 4

^{1} per share ratios, calculated based on numbers of shares with par value at THB 4 per share

^{(*)} Free cash flow used in calculation excludes non-recurring items

^{(**)} Based on share price as of end of period