Track Record
 
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Profile and Proposal
 
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Information Memorandum: IVL
 
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  What is PET resin or PET?
 
PET, which stands for polyethylene terephthalate, is a form of polyester (just like the clothing fabric). It is extruded or molded into plastic bottles and containers for packaging foods and beverages, personal care products, and many other consumer products.

 

Financial Highlights

(Baht Million) 2011 2010 2009 CAGR
CONSOLIDATED INCOME STATEMENT        
Net sales 186,096 96,858 79,994 53%
Cost of sales 165,754 82,066 67,666 57%
Gross profit 20,342 14,792 12,328 28%
Selling and administration and others expenses 9,215 5,821 5,045 35%
Forex (gain) loss (306) (1,178) (568) -27%
Other (income) expense (812) (157) (95) 192%
Operating profit 12,245 10,306 7,946 24%
*Non operating (income) expense (3,926) (1,155) 1,373 n.a
Profit before tax and minority 16,171 11,461 6,573 57%
Income tax 742 488 554 16%
Profit before minority 15,429 10,973 6,019 60%
Minority interest (139) 560 1,195 n.a
Net profit after tax and minority interest 15,568 10,413 4,824 80%
EBITDA 17,021 13,777 11,106 24%
         
CONSOLIDATED BALANCE SHEET        
Total Current Assets 67,771 26,144 23,566  
Property, plant and equipment 66,825 48,820 49,505  
Other Assets 11,230 2,976 1,189  
Total Assets 145,826 77,940 74,260  
Total Current Liabilities 43,201 24,038 25,785  
Long term loans - net of current portion 33,742 20,768 25,404  
Debenture 7,469 - -  
Other liabilities 2,637 893 605  
Total Liabilities 87,049 45,699 51,794  
Issued and paid-up capital 4,814 4,334 3,352  
Share premium 29,775 13,031 4,443  
Retained earnings and reserves 24,049 14,543 9,384  
Minority interest 139 333 5,287  
Total shareholders equity 58,777 32,241 22,466  
         
FINANCIAL RATIOS        
Gross margin 10.9% 15.3% 15.4%  
EBITDA margin 9.1% 14.2% 13.9%  
Net margin before minority 8.3% 11.3% 7.5%  
Earnings per Share 3.29 2.46 1.44  
Return on equity 35.1 % 41.8% 32.2%  
Return on capital employed 16.1% 17.6% 14.3%  
Net gearing 42.6% 48.2% 62.6%  
Net debt - equity 0.74 0.93 1.67  

 

* Year 2011 non operating (income) expense includes extraordinary income of Baht 6,112 million which comprise of gain on bargain purchase of Baht 8,370 million, acquisition costs of Baht 613 million and impairment loss due to flood of Baht 1,645 million.

Year 2010 non operating (income) expense includes extraordinary income from gain on bargain purchase of Baht 2,451 million.