Annual Report 2018 Amarin Printing and Publishing Public Company Limited
Total Page:16
File Type:pdf, Size:1020Kb
ร ำ ยง ำ นประจ�ำปี 2561 บริษัท อมรินทร์พริ้นติ้ง แอนด์ พับลิชชิ่ง จ�ำกัด (มห I N F I N I T E ำ ชน) P R O S P E R I T Y | Annual Report 2018 Amarin Printing and Publishing Public Company Limited บริษัท อมรินทร์พริ้นติ้ง แอนด์ พับลิชชิ่ง จ�ำกัด (มหำชน) 378 ถนนชัยพฤกษ์ แขวงตลิ่งชัน เขตตลิ่งชัน กรุงเทพฯ 10170 โทรศัพท์ 0-2422-9999 โทรสาร 0-2434-3555, 0-2434-3777 Amarin Printing and Publishing Public Company Limited รายงานประจ�าปี 2561 | Annual Report 2018 378 Chaiyaphruk Road, Taling Chan, Bangkok 10170, Thailand Tel. (66) 2422-9999 บริษัท อมรินทร์พริ้นติ้ง แอนด์ พับลิชชิ่ง จ�ำกัด (มหำชน) Fax (66) 2434-3555, (66) 2434-3777 Amarin Printing and Publishing Public Company Limited I N F I N I T E P R O S P E R I T Y ANNUAL REPORT 2018 AMARIN PRINTING AND PUBLISHING PUBLIC COMPANY LIMITED CONTENTS Financial Overview 5 BUSINESS OVERVIEW Ratio Analysis 8 Shareholding Structure 58 Company Profile 12 NATURE OF BUSINESS Message from the Chairperson 15 Business Outlook and Competition 62 Message from Chairman of the Executive Committee 18 Revenue Structure 76 Report of the Audit Committee 21 Summary of Financial Statements & Analysis 77 Report from the Corporate Governance Committee 24 of AMARIN’s Financial Position and Operating Results Report on Board of Directors’ Responsibility 27 Explanation and Analysis of Financial Position 81 for Financial Statements and Operating Results for 2016-2018 Risk Factors 84 The Board of Directors 28 The Executive Committee 30 AMARIN CORPORATE PROFILE Management Team 32 General Information and 88 Other Significant Information Corporate Responsibility 34 Shareholders 91 Key Events 40 Policy on Dividend Payment 93 MANAGEMENT STRUCTURE CORPORATE GOVERNANCE Organizational Structure 96 Corporate Governance Policy 146 Board of Directors 97 Intercompany Transactions 174 Details of the Board of Directors 99 Independent Auditor’s Report 176 Details of the Executive Director 117 Statement of Financial Position 182 Details of the Executive Director 119 Statement of Comprehensive Income 185 and Chief Financial Officer Statement of Changes in Equity 186 Details of the Company Secretary 120 Statements of Cash Flows 190 Table Lists Amarin’s Board / Committee Members 122 and Executives NOTES TO THE FINANCIAL Directors with Signing Authority 123 STATEMENTS Shareholding of Board Members and Executives 125 Notes ot the Financial Statements 193 Self-Assessment 126 Attendance in the Company’s Board / 128 Committee Meetings Remuneration for Board Members and Top Executives 129 Human Resources 133 INFINITE PROSPERITY 5 Financial Overview Consolidated Financial Statements Separate Financial Statements % increase % increase 2017 2018 (decrease) 2017 2018 (decrease) (Unit : Million Baht) Statements of Financial Position Current Assets 2,106.01 2,127.46 1.02 2,261.47 1,803.12 (20.27) Total Assets 5,579.14 6,167.45 10.54 6,824.34 6,800.77 (0.35) Total Liabilities 1,678.08 2,092.49 24.70 716.44 523.79 (26.89) Shareholder’s Equity 3,901.06 4,074.96 4.46 6,107.90 6,276.98 2.77 Paid-up Registered Capital 998.28 998.28 0.00 998.28 998.28 0.00 No. of Shares (Million) 998.28 998.28 0.00 998.28 998.28 0.00 Statements of Comprehensive Income Income from Sales and Services 2,196.42 3,327.10 51.48 1,782.60 1,689.42 (5.23) Other Income 40.77 199.28 388.77 40.42 58.88 45.69 Total Income 2,237.19 3,526.39 57.63 1,823.02 1,748.30 (4.10) Cost of Goods Sold 1,811.73 2,514.06 38.77 1,179.79 1,181.69 0.16 Net Profit Before Operating Expense 425.46 1,012.33 137.94 643.23 566.61 (11.91) Operating Expenses 444.48 765.87 72.31 384.97 349.62 (9.18) Net Profit from Operating (19.02) 246.46 1,395.66 258.26 216.99 (15.98) Interest Paid 105.39 32.38 (69.28) 17.68 7.90 (55.30) Share of Loss of Associates 0.65 0.38 (42.23) - - 0 Corporate Income Tax 38.87 41.03 5.55 45.26 40.01 (11.61) Profit (163.94) 172.68 205.33 195.32 169.08 (13.43) Net Profit (163.94) 173.90 206.08 195.32 169.08 (13.43) Earning per Share (Baht) (0.30) 0.17 157.66 0.35 0.17 (51.61) ANNUAL REPORT 2018 6 AMARIN PRINTING AND PUBLISHING PUBLIC COMPANY LIMITED Consolidated Financial Statements Total Assets Total Liabilities Shareholder’s Equity (Thousand Baht) (Thousand Baht) (Thousand Baht) 6,167,449 5,579,138 5,371,700 5,100,132 4,740,565 4,074,960 3,970,659 3,901,058 3,406,697 3,705,533 2,092,489 1,678,079 1,965,003 1,394,598 769,906 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Total Income Net Profit Earning per Share (Thousand Baht) (Thousand Baht) (Baht) 173,902 0.17 3,526,389 2,003,859 2,237,189 1,913,970 1,940,727 (91,463) (0.43) (0.30) (163,937) 2014 2015 2016 2017 2018 (416,405) (1.89) (624,692) (2.86) 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 INFINITE PROSPERITY 7 Separate Financial Statements Total Assets Total Liabilities Shareholder’s Equity (Thousand Baht) (Thousand Baht) (Thousand Baht) 6,800,773 6,824,336 6,276,978 6,107,900 3,667,233 2,889,131 3,155,037 2,394,455 2,310,465 2,617,495 1,049,738 523,794 578,666 760,582 716,436 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Total Income Net Profit Earning per Share (Thousand Baht) (Thousand Baht) (Baht) 1,922,876 1,823,022 1,916,162 1,760,606 1,748,303 253,040 237,990 169,078 223,040 195,316 1.20 1.08 1.00 0.35 0.17 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 ANNUAL REPORT 2018 8 AMARIN PRINTING AND PUBLISHING PUBLIC COMPANY LIMITED Ratio Analysis Consolidated financial statements 2016 2017 2018 Liquidity Current Ratio Time 0.59 2.48 2.25 Quick Ratio Time 0.43 2.20 1.77 Liquidity Ratio (cash basis) Time 0.09 0.30 0.70 Receivable Turnover Time 4.22 4.59 6.29 Average Collection Period Day 85 78 57 Inventory Turnover Time 6.58 7.15 7.49 Inventory Turnover Period Day 55 50 48 Account Payable Turnover Time 12.71 13.33 8.49 Payment Period Day 28 27 42 Cash Cycle Day 112 102 63 Profitability Ratio Gross Profit Margin % 3.92 17.51 24.44 Operating Profit Margin % (14.50) (0.90) 7.43 Other Income Ratio % 2.12 1.82 5.65 Cash per Profitability Ratio % (54.44) (2,037.34) 253.78 Net Profit Margin % (32.19) (7.33) 4.93 Return on Equity % (57.72) (7.02) 4.36 Efficiency Policy Ratio Return on Total Assets % (12.70) (3.18) 2.96 Return on Fixed Assets % (6.46) 5.95 16.54 Assets Turnover Time 0.39 0.43 0.60 Financial Policy Ratio Debt to Equity Time 5.16 0.43 0.51 Interest Coverage Time 1.72 6.45 54.32 Dividend Pay out % - - 40.18 INFINITE PROSPERITY 9 Separate financial statements 2016 2017 2018 Liquidity Current Ratio Time 1.40 4.14 4.97 Quick Ratio Time 0.99 3.71 4.23 Liquidity Ratio (cash basis) Time 0.72 0.64 0.67 Receivable Turnover Time 4.03 4.66 4.72 Average Collection Period Day 89 77 76 Inventory Turnover Time 4.17 4.74 4.79 Inventory Turnover Period Day 86 76 75 Account Payable Turnover Time 6.91 8.22 9.23 Payment Period Day 52 44 39 Cash Cycle Day 124 109 112 Profitability Ratio Gross Profit Margin % 33.34 33.82 30.05 Operating Profit Margin % 17.20 14.49 12.84 Other Income Ratio % 3.24 2.22 3.37 Cash per Profitability Ratio % 148.82 150.37 141.24 Net Profit Margin % 12.67 10.71 9.67 Return on Equity % 8.90 4.48 2.73 Efficiency Policy Ratio Return on Total Assets % 6.54 3.72 2.48 Return on Fixed Assets % 15.40 8.83 6.29 Assets Turnover Time 0.52 0.35 0.26 Financial Policy Ratio Debt to Equity Time 0.40 0.12 0.08 Interest Coverage Time 22.01 21.96 38.78 Dividend Pay out % - - 41.331/ Note: 1/Dividends pay from net profit according to the separate financial statements from the year 2018 performance proposed by the Board of Directors which is still awaiting approval from the Annual General Meeting of shareholders for the year 2019 on April 29, 2019. ANNUAL REPORT 2018 10 AMARIN PRINTING AND PUBLISHING PUBLIC COMPANY LIMITED Biography of the Company’s Founder Chukiat Utakapan was born to Khun Rat and Khun Rarieb “The Amarin business has been growing consistently. People Utakapan on 10 May 1942 in Amphoe Rueso, Changwat thought I was visionary. That’s not true. I believe I have Narathiwat, in a family of six children. Following his Matthayom more mindfulness. I had average intelligence. This was 8 graduation from Mahavajiravudh Songkhla School, he indicated since my secondary education when every year continued his tertiary education at the Faculty of Arts, the report book was returned with the teacher’s remark Chulalongkorn University.