8.25 x 11.5 inc san 17 mm. 8.25 x 11.5 inc 59-01-068_Cover AR-Eng_san 17mm_J-CS6-UnCoated 8.25 x 11.5 inc san 17 mm. 8.25 x 11.5 inc 59-01-068_InCover AR-Eng_san 17mm_J-CS6-UnCoated CONTENTS 10 ํW 12 ํW 14 ํW 18 ํW 20 ํW Vision, Mission, Value, Financial Highlights Corporate Social Message from the Report of the and Company’s Responsibility Chairman and Chief Audit Committee Strategies Executive Officer 22 ํW 24 ํW 26 ํW 38 ํW 40 ํW Board of Directors Management Team Directors, Executives Information of Directors, Changes in the and Company and Company Executives and Controlling Securities Portfolios of Secretary Secretary Profiles Authorities of Subsidiaries the Board and the and Associates Executive of the Year 2015 42 ํW 44 ํW 46 ํW 50 ํW 56 ํW Shareholders INTOUCH Group’s General Milestones Nature of Investment Structure Information and Business and Other Information Income Structure 76 ํW 82 ํW 131 ํE 138 ํW 142 ํW Risk Factors Corporate Governance Related Sustainable Management’s and Management Transactions Development Report Discussion and Analysis 150 ํW 151 ํE 152 ํW 243 ํE 244 ํW Board of Directors’ Auditor’s Report Financial Statement Dividend Policy Glossary Responsibility for of Ceritified Public Financial Reporting Accountant 247 ํE 248 ํW Other Reference Investor Information Persons 02 ํ W Annual Report 2015 Thaicom Public Company Limited 03 ํ E 04 ํ W Annual Report 2015 Thaicom Public Company Limited 05 ํ E 06 ํ W Annual Report 2015 Thaicom Public Company Limited 07 ํ E 08 ํ W Annual Report 2015 Thaicom Public Company Limited 09 ํ E 010 ํ W Annual Report 2015 Thaicom Public Company Limited Vision To be a Leading Asian Satellite Operator Thaicom aims “to be a leading Asian satellite operator”, influencing and innovating communications on a global scale, providing products and services responsibly, and developing people and ethical practices to accommodate economic growth and cultivate a sustainable society. Drive solid growth for shareholders Develop innovative solutions for customers and new markets Mission Build a positive corporate image among all stakeholders Strive to be high performance organization by nurturing employee potential and relationships Value 011 ํ E Sustainable Organization & Profitable Growth Long-term Business Growth Communication Operational Strategies & External Internal The Company has developed business policies and intended Short-term Short-term Short-term Core Business Core Business Core Business to engage all departments in the company’s core strategic Operation Operation Operation direction to maintain profitable and sustainable growth. Vision The Company’s key operational strategies include: Business Foundation Essential 1 Human resources strategy The Board of Directors places priority into human resources which it believes to be the main driving force behind To be a Leading Asian the success of other resources and the Company’s profitability. The Company plans to become a source of knowledge through the continuous development of human resources, focusing on commitment to the organization and understanding diversity in this type of business. Succession planning is to be reviewed by the Board of Directors at least Satellite Operator once a year. Thaicom aims “to be a leading Asian satellite operator”, influencing and innovating 2 Business strategy communications on a global scale, providing products and services responsibly, and The Company divides its business strategy into three phases. The short-term business strategy focuses on filling up developing people and ethical practices to accommodate economic growth and cultivate capacities of existing satellites through three main strategies summarized as follows: 1. Market segmentation: To clearly identify focused market segments to precisely a sustainable society. form M address customers’ requirements lat an P ag ss e e d 2. Open Access Platform: To open to collaborative efforts and to develop c c S A e beneficial and strategic partnerships that will meet the different needs of r n v i e Drive solid growth for shareholders Customer c customers in different territories p e s O Centric Develop innovative solutions for customers and new markets 3. Managed Services: To use our more than 24 years of expertise in satellite Mission technology and experience in developing products and services to provide Build a positive corporate image among all stakeholders M end-to-end solutions to customers a rke ion Strive to be high performance organization by nurturing employee In the medium term, the Company plans to develop follow-on satellite programs t Segmentat potential and relationships to ensure service continuity for customers as well as to maintain its presence and landing rights in the region. Lastly, the Company’s long-term business strategy is to leverage its strengths and partnerships, and to take advantage of opportunities for future growth. Value 3 Sustainable development strategy In order to grow sustainably, the Board of Directors believes that the Company’s success shall comprise good corporate governance principles, morality and ethics, transparent business practices as well as community caring. The Company has a corporate image strategy to develop people into moral, capable, and generous citizens. The Company operates on the basis of good corporate governance, maintaining and strictly adhering to a number of policies including its Anti-Corruption Policy. As a result, the Company has consistently received outstanding scores on corporate governance assessments at both the national and ASEAN levels, building trust amongst investors and all shareholders. Thaicom contributes to the community through the “Thai Kid Thaicom” project, which is now in its fifth year. The Company believes in extending education opportunity to all areas in Thailand, building career skills within the communities through teaching satellite receiver installation. The Company supports modern education through constructionism approaches, giving students the chance for hands on experience with technology. In addition, the Company jointly involves in supporting a number of projects promoting space technology innovation. “Create value for society by combining satellite communications technology with expertise to empower communities, raising the standard of living, nurturing the environment, and improving quality of life.” 012 ํ W Annual Report 2015 Thaicom Public Company Limited (Million Baht) (Million Baht) 33,592 31,888 5,758 28,427 Total Assets EBITDA 5,110 2015 4,026 2014 2015 2013 2014 Financial Highlights (Consolidated) 2013 Thaicom Public Company Limited Unit : Million Baht 2013 2014 2015 (Restated) (Restated) Operating results (Baht) Total Revenue 11,880 12,310 12,943 16.14 Book Value 15.41 Satellite Revenue per Share 14.18 Sales and Services Revenue 9,992 11,893 12,453 2015 2014 Gross Profit 4,161 4,852 5,099 2013 Operating Profit (Loss) 2,091 1,998 2,981 9,258Million Baht Net Profit (Loss) 1,128 1,601 2,122 of Revenue EBITDA 4,026 5,110 5,758 from Sales and Services 74% Financial Position Total Assets 28,427 31,888 33,592 Consolidated Total Liabilities 12,138 14,603 15,481 Total Assets Net Profit Shareholders' Equity 16,289 17,285 18,111 Financial Ratio 33,592Million Baht 2Million,12 Baht2 Current Ratio (Times) 0.90 1.77 1.83 Interest Bearing Debt to Equity Ratio (Times) 0.54 0.64 0.65 an increase of Gross Profit Margin 42% 41% 41% Operating Profit Margin 21% 17% 24% 33% EBITDA Margin 40% 43% 46% Net Profit Margin 11% 13% 17% Return on Assets 4% 5% 6% Return on Shareholders' Equity 8% 10% 12% Earning per Share (Baht) 1.03 1.46 1.94 2011 2012 2013 Book Value per Share (Baht) 14.18 15.41 16.14 2014 2015 As of 31 December 2015 013 ํ E (Million Baht) (Million Baht) 33,592 31,888 5,758 28,427 Total Assets EBITDA 5,110 2015 4,026 2014 2015 2013 2014 Financial Highlights (Consolidated) 2013 Thaicom Public Company Limited Unit : Million Baht 2013 2014 2015 (Restated) (Restated) Operating results (Baht) Total Revenue 11,880 12,310 12,943 16.14 Book Value 15.41 Satellite Revenue per Share 14.18 Sales and Services Revenue 9,992 11,893 12,453 2015 2014 Gross Profit 4,161 4,852 5,099 2013 Operating Profit (Loss) 2,091 1,998 2,981 9,258Million Baht Net Profit (Loss) 1,128 1,601 2,122 of Revenue EBITDA 4,026 5,110 5,758 from Sales and Services 74% Financial Position Total Assets 28,427 31,888 33,592 Consolidated Total Liabilities 12,138 14,603 15,481 Total Assets Net Profit Shareholders' Equity 16,289 17,285 18,111 Financial Ratio 33,592Million Baht 2Million,12 Baht2 Current Ratio (Times) 0.90 1.77 1.83 Interest Bearing Debt to Equity Ratio (Times) 0.54 0.64 0.65 an increase of Gross Profit Margin 42% 41% 41% Operating Profit Margin 21% 17% 24% 33% EBITDA Margin 40% 43% 46% Net Profit Margin 11% 13% 17% Return on Assets 4% 5% 6% Return on Shareholders' Equity 8% 10% 12% Earning per Share (Baht) 1.03 1.46 1.94 2011 2012 2013 Book Value per Share (Baht) 14.18 15.41 16.14 2014 2015 As of 31 December 2015 014 ํ W Annual Report 2015 Thaicom Public Company Limited To promote sustainable development, Thaicom is always striving to attain the highest degree of responsibility towards both society and the environment through 3 key strategies: responsible service, support for a sustainable society, and environmental resource management & impact mitigation. 015 ํ E Corporate Social Responsibility To promote sustainable development, Thaicom is always striving to attain the highest degree of responsibility towards both society and the environment, especially regarding its products and services. In 2015, SDCOM updated its strategic framework to better meet shareholder needs through 3 key strategies to demonstrate responsibility: responsible service, support for a sustainable society, and environmental resource management & impact mitigation.