Financial Performance (THB million)

Financial Position (THB million)

2025 2024 2023
Consolidated financials (Baht million)
Total revenue* 7,188 7,388 7,386
Gross profit 4,314 4,758 4,686
Expenses 4,339 3,492 3,914
EBITDA 3,191 4,184 3,733
Net profit 2,284 3,370 3,095
Total assets 71,973 70,201 65,254
Investments 60,298 59,343 55,881
Real estate and other fixed assets 8,751 8,752 6,851
Total liabilities 21,614 20,319 18,786
Interest-bearing debt 20,011 18,577 17,108
Total shareholders’ equity 50,359 49,882 46,468
Net cash flow from operating activities,
including dividend received		 1,546 1,608 1,348
Profitability ratio (%)
Gross margin 60.0 64.4 63.5
EBITDA margin 44.4 56.6 50.5
Net profit margin 31.8 45.6 41.9
Return on assets (ROA) 4.0 5.0 4.7
Return on equity (ROE) 5.7 7.0 6.8
Leverage ratio (Times)
Debt to equity ratio 0.43 0.41 0.40
Interest-bearing debt to equity ratio 0.40 0.37 0.37
Interest coverage ratio 5.23 7.33 7.54
Per share data (Baht per share)
Earnings per share** 2.66 5.89 5.41
Book value per share 58.70 87.22 81.25
Dividend per share*** 0.90 0.90 0.80
Dividend payout ratio (%) 33.8 15.3 14.8
Share information as of 31 December
Par value (Baht per share) 1.00 1.00 1.00
Share price (Baht per share) 39.75 64.00 71.25
Outstanding shares (shares) 857,894,892 571,933,066 571,890,666
Market capitalisation (Baht million) 34,101 36,604 40,747

Remark:

* Including revenue from share of profit from investments in associates and joint ventures

** Calculated using weighted average number of ordinary shares

*** Dividend per share for 2025 has been consented as per the Board of Directors’ resolution on 26 Febuary 2026 and will be proposed in the Annual General Meeting of Shareholders on 27 April 2026.

In 2024, there was the extraordinary items from gain on purchase bargain of Baht 263 million from expansion of the investment in People’s Garment Public Company Limited (“PG”). This resulted in the reclassification of investment to subsidiary