Page 127 - ANNUAL REPORT DESIGN

OPERATING REVENUE1 (THB mn)
AND GROSS OPERATING PROFIT MARGIN (%)
47.2% 48.8%
10,375.5
7,719.8
2010/11 2011/12 2012/13
Operating Revenue (THB mn) Gross Operation Profit Margin (%)
53.1%
8,766.8
2013/14
55.5%
7,102.1
2014/15
39.9%
2,836.2
2014/15
43.0%
5,892.5
OPERATING EBITDA2 (THB mn)
AND OPERATING EBITDA MARGIN5 (%)
53.6% 43.3%
49.0%
5,080.7
2012/13
39.0%
3,422.9
2013/14
1 Operating revenue includes farebox revenue from discontinued operations which are separated as ‘profitfrom discontinued operation’ in the statement of comprehensive income .
2 Operating EBITDA = Operating earnings before in terest, taxes, depreciation and amortisation (excluding non recuring items)
3 Net recurring profit = Net recurring profit before minority interest
4 Net profit after minority interest = Net profit attributed to equity holders of the company (including non-recur ringitems)
5 Operating EBITDA margin = Operating EBITDA / Totaloperating revenue
6 Net recurring profit margin = Net recurring profit before minority interest (excluding non-recuringitems) / Total recurring revenue
7 CFO = Net cash flow from operating activities after interest and tax
8 Capex = Capital expenditures
9 Subject to shareholders’ approval, please see
Section 4.1: Capital Markets Review
10 DSCR = Debt service coverage ratio (Operating EBITDA / Finan cecost)
2,548.9
2010/11
4,140.7
2011/12
Operating Revenue (THB mn) Gross Operation Profit Margin (%)
NET DEBT TO EQUITY (x) 0.67x
0.56x
2010/11 2011/12
0.17x
2012/13
(0.02)x
2013/14
76,757.1
2013/14
(0.11)x 2014/15
66,811.5
2014/15
TOTAL ASSETS (THB mn)
63,702.6
66,888.9 67,290.9
2010/11 2011/12
2012/13
*Capex = capex of real estate development + CF including advances for asset acquisitions, elevated rail project costs, purchase of PPE, land and projects awaiting development, intangible asset and purchase of condominiums and fixtures for lease
BTS GROUP HOLDING PCL 17 ANNUAL REPORT 2015 / 16