Financial Overview 2019 2018 2017
Statement of Income (million baht)
Warehouse rental and service income 2,201.63 1,902.99 1,001.94
Other rental and service income 33.32 24.18 19.04
Undertaking income 28.29 51.01 58.39
Interest income 0.57 1.75 0.84
Total income 2,263.81 1,979.93 1,080.21
Total expenses (373.34) (335.82) (176.24)
Profit before financial costs and net gain (loss) from investment 1,890.47 1,644.11 903.97
Financial costs (342.50) (334.42) (176.31)
Net investment income (Profit before net gain (loss) from investment) 1,547.97 1,309.69 727.66
Total net gain (loss) from investment 366.62 163.32 (49.15)
Increase net assets from operations during the year (Net profit) 1,914.59 1,473.01 678.51
Balance Sheet (million baht)
Investment in properties at fair value 35,846.21 30,593.97 25,948.85
Investment in securities at fair value 1,174.49 1,130.71 346.61
Cash and cash equivalents 279.58 139.66 787.13
Other assets 853.95 786.98 731.87
Total assets 38,154.23 32,651.32 27,814.46
Borrowing from financial institutions 1,521.90 5,266.70 7,714.40
Debentures 8,000.00 4,200.00 -
Other liabilities 1,316.54 1,201.29 1,000.74
Total liabilities 10,838.44 10,667.99 8,715.14
Net assets 27,315.79 21,983.33 19,099.32
Financial Ratio
Unit outstanding at the end of period (units) 2,554,629,507 2,248,454,220 1,963,977,172
Net assets value per unit (baht/unit) 10.6926 9.777 9.7248
Increase in net assets from operations period per unit (net profit per unit) (baht/unit) 0.7495 0.6551 0.3455
Current ratio1/ (times) 3.59 4.80 4.75
Total liabilities to total assets (%) 28.41 32.67 31.33
Total liabilities to net assets value ratio (times) 0.40 0.49 0.46
Interest bearing debt to total assets ratio (%) 24.96 28.99 27.74
Net debt to EBITDA ratio 2/(times) 4.68 5.39 7.83
Interest coverage ratio : ICR (times) 5.52 4.92 5.13
Interest Bearing Debt matured in 1 year to total interest bearing Debt (%) 1.89 0.03 0.03

* Notes :

1/ Current ratio = (Cash and cash equivalents + Investments in securities at fair value + Other current assets) / (Interest Bearing Debt matured in 1 year + Unearned rental and service income + Accounts payable + Accrued expenses + Other current liabilities)

2/ Net debt to EBITDA ratio = Debt – (Cash and cash equivalents + Investment in securities at fair value) / Earnings Before Interest Tax Depreciation and Amortization