Key Financial Ratios 2020/21 2019/201 2018/19
(Restated)
Profitability ratios
Gross operating profit margin (%) 18.1% 18.4% 12.8%
Recurring EBITDA margin (%) 25.2% 25.9% 15.7%
Recurring net profit margin (%) 9.6% 11.3% 6.6%
Net profit margin (%) 10.8% 18.4% 5.9%
ROA (%) 2.8% 5.6% 2.8%
ROE (%) 7.5% 14.8% 7.2%
Liquidity Ratio
Current Ratio (times) 0.44x 0.68x 0.47x
Leverage
Interest bearing debt to equity (times) 1.49x 1.32x 1.39x
Adjusted net debt2 to equity (times) 1.28x 1.05x 1.03x
Adjusted net debt2 to operating EBITDA (times) 11.04x 7.35x 7.43x
Interest coverage (times) 3.51x 4.27x 4.38x
Per share ratios 3
Earnings per share (THB) 0.35 0.65 0.24
Book value per share (THB) 5.78 5.32 4.42

1 Includes performances from discontinued operation
2 Adjusted net debt: Calculated based on interest bearing debt - cash and cash equivalent and liquid investment
3 per share ratios, calculated based on numbers of shares with par value at THB 4 per share

Key Financial Ratios 1Q 19/20 2Q 19/20 3Q 19/20 4Q 19/20 1Q 20/21 2Q 20/21 3Q 20/21
Profitability ratios
Gross operating profit margin (%) 17.8% 21.0% 19.9% 19.5% 14.2% 17.0% 18.3%
Recurring EBITDA margin (%) 25.9% 22.8% 36.4% 16.5% 15.6% 22.6% 30.6%
Recurring net profit margin (%) 14.3% 9.4% 19.0% 6.7% 4.5% 7.7% 13.3%
Net profit margin (%) 9.6% 10.7% 22.0% 29.6% 4.1% 7.6% 14.1%
ROA (%) 2.9% 3.3% 3.9% 2.8% 4.7% 4.3% 3.7%
ROE (%) 7.2% 8.2% 9.5% 7.4% 12.8% 11.8% 9.7%
Liquidity Ratio            
Current Ratio (times) 1.05x 0.65x 0.66x 0.68x 0.40x 0.37x 0.51x
Leverage            
Interest bearing debt to equity (times) 1.32x 1.18x 1.11x 1.32x 1.39x 1.57x 1.48x
Adjusted net debt1 to equity (times) 0.82x 0.90x 0.84x 1.05x 1.15x 1.31x 1.21x
Adjusted net debt1 to recurring EBITDA (times) 6.52x 6.65x 5.80x 7.35x 8.06x 9.64x 11.77x
Interest coverage (times) 3.90x 4.19x 6.76x 2.30x 2.65x 3.31x 4.08x
Per share ratios 2            
Earnings per share (THB) 0.08 0.10 0.19 0.28 0.03 0.06 0.13
Book value per share (THB) 5.49 5.22 5.59 5.32 4.79 4.78 5.55

1 Adjusted net debt: Calculated based on interest bearing debt - cash and cash equivalent and liquid investment
2 per share ratios, calculated based on numbers of shares with par value at THB 4 per share