Key figures

Key figures

  • Full Year Results
  • Quarterly Results

2019/20 Revenue Structure

Fiscal year ended 31 March

Consolidated (THB mn) 2019/20 2018/19
(Restated)(1)
2017/18
(Restated)(2)
2016/17
Total operating revenue(3) 4,000 3,611 3,936 3,052
Cost of sales 1,948 1,461 1,535 1,269
Gross profit 2,052 2,150 2,401 1,783
EBITDA 1,523 1,672 1,691 1,356
EBIT 1,177 1,360 1,258 1,010
Net profit (excl. non-controlling interests) 1,424 1,101 846 826
Total assets 17,077 22,773 9,632 7,985
Total liabilities 3,999 6,166 3,706 4,880
Total shareholders' equity 13,078 16,607 5,926 3,105
Key Financial Ratios 2019/20 2018/19
(Restated)(1)
2017/18
(Restated)(2)
2016/17
Profitability Ratios(4)        
Gross profit margin (%) 51% 60% 61% 58%
EBITDA margin (%) 38% 46% 43% 44%
EBIT margin (%) 29% 38% 32% 33%
Net profit margin (%) 36% 31% 22% 27%
ROE (%) 11% 12% 27% 24%
Liquidity Ratios
Current ratio (times) 1.0X 1.2X 1.8X 0.9X
Efficiency Ratios
ROA (%) 8% 7% 10% 12%
Asset turnover (times) 0.2X 0.2X 0.5X 0.5X
Leverage Ratios
Liability to equity (times) 0.3X 0.4X 0.6X 1.6X
Debt to equity (times) 0.1X 0.2X 0.3X 1.0X

Remark:

- Currently, VGI's business comprised of Advertising, Payment and Logistics business. The categorisation of accounting for each of these platforms is different, with Advertising recorded under the OOH media segment; Payment under the Digital Services segment, and most of the Logistics performance recorded under the equity method.
- In 2019/20, the Company had completed the deconsolidation of Master Ad public Company Limited ("MACO") resulting from the change in status of investment in MACO from the subsidiary to associate, which was effective since 30 January 2020. Going forward, VGI will only recognise as a share of profit (loss) from investment of MACO.
(1) The Company restated the consolidated financial position as at 31 March 2018 to reflect the fair value of Co-Mass Company Limited ("Co-Mass") assets under MACO after the measurement of fair value of Co-Mass’s identifiable assets was completed.
(2) The Company restated the Financial Position as at 31 March 2019 after the measurement of fair value of Trans.Ad Group and Gold Star Group's identifiable assets was completed.
The Company restated the statement of comprehensive income in 2018/19 following to:-
1) The new financial reporting standards TFRS 15 Revenue from Contracts with Customers.
2) The deconsolidation of MACO
(3) Excludes other income
(4) Calculated using total operating revenue

3Q 20/21 Revenue Structure

Fiscal year ended 31 March

Consolidated (THB mn) 3Q 19/20
(Restated)1
4Q 19/20 1Q 20/21 2Q 20/21 3Q 20/21
Total operating revenue 2 1,233 827 445 717 680
Cost of sales 563 468 333 430 359
Gross profit 670 359 112 287 321
EBITDA 591 (53) (22) 140 856
EBIT 503 (136) (129) 28 737
Net profit (excl. non-controlling interests) 401 364 (104) 12 713
Total assets 23,983 17,077 19,420 19,201 19,869
Total liabilities 5,832 3,999 4,357 4,232 3,857
Total shareholders' equity 18,151 13,078 15,063 14,968 16,012
Key Financial Ratios 3Q 19/20
(Restated)1
4Q 19/20 1Q 20/21 2Q 20/21 3Q 20/21
Profitability Ratios 3
Gross profit margin (%) 54% 43% 25% 40% 47%
EBITDA margin (%) 48% -6% -5% 20% 126%
EBIT margin (%) 41% -17% -29% 4% 108%
Net profit margin (%) 32% 44% -23% 2% 105%
ROE (%) 10% 11% 7% 5% 7%
Liquidity Ratios
Current ratio (times) 1.0X 1.0X 0.9X 0.9X 1.1X
Efficiency Ratios    
ROA (%) 8% 8% 6% 4% 5%
Asset turnover (times) 0.3X 0.3X 0.2X 0.2X 0.2X
Leverage Ratios    
Liability to equity (times) 0.3X 0.3X 0.3X 0.3X 0.2X
Debt to equity (times) 0.1X 0.1X 0.1X 0.1X 0.1X

Remark:

- Currently, VGI's business comprised of Advertising, Payment and Logistics business. The categorisation of accounting for each of these platforms is different, with Advertising recorded under the OOH media segment; Payment under the Digital Services segment, and most of the Logistics performance recorded under the equity method.

- In 2019/20, the Company had completed the deconsolidation of Master Ad public Company Limited ("MACO") resulting from the change in status of investment in MACO from the subsidiary to associate, which was effective since 30 January 2020. Going forward, VGI will only recognise as a share of profit (loss) from investment of MACO.

- Following to the deconsolidate of MACO, the Company had restated the statement of comprehensive income in 2018/19 and 2019/20. The statement of financial position only as end of March 2020 had reflected the aforementioned deconsolidated. Therefore, the Company calculated the ratio, which related to statement of financial position in 2Q 2020/21 as an average of balance at the end of March 2020 and September 2020

1 The Company restated the Financial Position as at 31 March 2019 after the measurement of fair value of Trans.Ad Group and Gold Star Group's identifiable assets was completed.

The Company restated the statement of comprehensive income in 3Q 2019/20 following to:-

  1. The new financial reporting standards TFRS 15 Revenue from Contracts with Customers.
  2. The deconsolidation of MACO

2 Excludes other income

3 Calculated using total operating revenue