This printed article is located at http://robins.listedcompany.com/mdna.html

MD & A

Archive : Management's Discussion and Analysis.

Management’s Discussion and Analysis for three months ended 31 March 2017

Key highlight in 1Q17

Comparison consolidated financial statement for 3 months ended 31 Mar 2017 and 31 Mar 2016

Unit : Million Baht
Consolidated financial statement
1Q17
1Q16
Increase (Decrease)
% Change
Revenue from sale of goods 6,271 6,395 (124) (1.9%)
Investment income 799 717 82 11.5%
Other income 214 234 (20) (8.7%)
Total income 7,283 7,346 (62) (0.8%)
Cost of sale of goods 4,687 4,787 (101) (2.1%)
Selling expenses 1,485 1,467 19 1.3%
Administrative expenses 337 297 40 13.3%
Financial costs 20 17 3 19.8%
Total expenses 6,529 6,568 (39) (0.6%)
Share of profit of associates 147 122 25 20.6%
Profit before income tax expense 902 900 2 0.2%
Income tax expense 147 158 12 7.4%
Net profit 710 686 23 3.4%
Core profit 562 564 (2) (0.3%)

Note: Core profit is excluding share of profit of associates

Financial performance

Comparison financial position for 3 months ended 31 Mar 2017 and 31 Dec 2016

Unit : Million Baht
Financial position
1Q17
FY2016
Increase (Decrease)
% Change
Cash and cash equivalents 1,722 2,219 (497) (22.4%)
Current investments 36 35 0.1 0.3%
Other current assets 3,129 3,470 (341) (9.8%)
Other non-current assets 21,402 21,277 125 0.6%
Total assets 26,289 27,001 (712) (2.6%)
Total current liabilities 6,430 7,367 (937) (12.7%)
Total non-current liabilities 2,911 3,437 (526) (15.3%)
Total liabilities 9,341 10,804 (1,463) (13.5%)
Total equities 16,948 16,197 751 4.6%
Total liabilities and equities 26,289 27,001 (712) (2.6%)

Total assets amounted to Baht 26,289 million, an decrease of Baht 712 million or -2.6 % compared to the end of 2016. Total liabilities amounted to Baht 9,341 million, a decrease of Baht 1,463 million or -13.5% compared to the end of 2016. This decrease is due to lower accounts payable, other current payables and repayment of long term loans. Shareholders' equity totaled Baht 16,948 million, an increase of Baht 751 million or 4.6%, attributable to an improved financial performance.

Capital Structure

As of 31 March 2017, the Company's capital structure comprised of total liabilities of Baht 9,341 million while the interest bearing debt was Baht 2,745 million, and total shareholders' equity totaled Baht16,948 million. The Company had a liability to equity ratio of 0.6 times, while a net interest bearing debt to equity ratio was at 0.06 times.

Prospects for the future malls in 2017

This year, the Company plans to open three new stores in Thailand (one lifestyle center in Petchaburi in the first half, and another in Kampaengphet and a department store in Mahachai in the second half).We closed one store in Ubonratchatani province in 1Q17 because we belief that our Ubonratchatani2 store is suffice to support growth of province. At the end of this year, we will have total forty-six stores Thailand and two stores in Vietnam.

Financial ratio

Key financial ratio
1Q17
1Q16
Gross profit margin (%) 25.3 25.1
Net profit margin (%) 9.7 9.3
Core profit margin (%) 7.7 7.7
Return on Equity (%) 18.9 16.5
Return on Asset (%) 14.1 12.6
Current ratio (Time) 0.8 0.6
Liability to Equity ratio (Time) 0.6 0.7



Please read our General Disclaimer & Warning carefully.
Use of this Website constitutes acceptance of the Terms of Website Use.
Copyright © 2017. ThaiListedCompany.com. All Rights Reserved.