Key Figures

Key Figures

2020/21 Revenue Structure

Fiscal year ended 31 March

Consolidated (THB mn) 2017/18
(Restated)(1)
2018/19
(Restated)(2)
2019/20 2020/21
Total operating revenue(3) 3,936 3,611 4,000 2,480
Cost of sales 1,535 1,461 1,948 1,544
Gross profit 2,401 2,150 2,052 936
EBITDA 1,691 1,672 1,523 1,582
EBIT 1,258 1,360 1,177 1,113
Net profit (excl. non-controlling interests) 846 1,101 1,424 980
Total assets 9,632 22,773 17,077 20,970
Total liabilities 3,706 6,166 3,999 3,907
Total shareholders' equity 5,926 16,607 13,078 17,063
Key Financial Ratios 2017/18
(Restated)(1)
2018/19
(Restated)(2)
2019/20 2020/21
Profitability Ratios(4)        
Gross profit margin (%) 61% 60% 51% 38%
EBITDA margin (%) 43% 46% 38% 64%
EBIT margin (%) 32% 38% 29% 45%
Net profit margin (%) 22% 31% 36% 40%
ROE (%) 27% 12% 11% 7%
Liquidity Ratios
Current ratio (times) 1.8X 1.2X 1.0X 1.0X
Efficiency Ratios
ROA (%) 10% 7% 8% 5%
Asset turnover (times) 0.5X 0.2X 0.2X 0.2X
Leverage Ratios
Liability to equity (times) 0.6X 0.4X 0.3X 0.2X
Debt to equity (times) 0.3X 0.2X 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.

(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

1Q 21/22 Revenue Structure

Fiscal year ended 31 March

Consolidated (THB mn) 1Q 20/21 2Q 20/21 3Q 20/21 4Q 20/21 1Q 21/22
Total operating revenue 1 445 717 680 637 596
Cost of sales 333 430 359 422 410
Gross profit 112 287 321 215 185
EBITDA (22) 140 856 607 119
EBIT (129) 28 737 477 (4)
Net profit (excl. non-controlling interests) (104) 12 713 359 10
Total assets 19,420 19,201 19,869 20,970 20,252
Total liabilities 4,357 4,232 3,857 3,970 3,790
Total shareholders' equity 15,063 14,968 16,012 17,063 16,462
Key Financial Ratios 1Q 20/21 2Q 20/21 3Q 20/21 4Q 20/21 1Q 21/22
Profitability Ratios 2
Gross profit margin (%) 25% 40% 47% 34% 31%
EBITDA margin (%) -5% 20% 126% 95% 20%
EBIT margin (%) -29% 4% 108% 75% -1%
Net profit margin (%) -23% 2% 105% 56% 2%
ROE (%) 7% 5% 7% 7% 7%
Liquidity Ratios
Current ratio (times) 0.9X 0.9X 1.1X 1.0X 1.0X
Efficiency Ratios    
ROA (%) 6% 4% 5% 5% 6%
Asset turnover (times) 0.2X 0.2X 0.2X 0.2X 0.2X
Leverage Ratios    
Liability to equity (times) 0.3X 0.3X 0.2X 0.2X 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.

(1) Excludes other income

(2) Calculated using total operating revenue