GPSC ANNUAL_ENG

152 A N N U A L R E P O R T 2 0 1 7 • Cash flow from operating activities In 2017, GPSC and its subsidiaries had net cash gained from operating activities of THB 3,153 million,THB 3,269 million net of which came from operating activities with corporate income tax payment of THB 116 million. • Cash flow from investing activities In 2017, GPSC and its subsidiaries had net cash used in investing activities of THB 4,411 million to the company and its subsidiaries had paid the construction payable of THB 3,090 million. The company also made additional capital paid-up in associates, joint ventures and long- term investment for THB 1,667 million. The company has loaned capital to the related company for THB 197 million, which excluded the interest. While GPSC received dividend income from RPCL of THB 270 million and the other invested companies for THB 294 million. • Cash flow from financing activities In 2017, GPSC and its subsidiaries had net cash used in investing activities of THB 2,306 million, mainly from cash outflow for dividend for THB 1,723 million and for repayment of long-term loans from financial institutions amounting to THB 7,227 million and the payment of interest and related expenses to financial institutions amounting to THB 303 million, whereas there was cash received from IRPC-CP, CHPP and ISP’s additional drawdowns of long-term loans amounting to THB 1,896 million for the constructions of the power plants. GPSC also has net cash received from debenture issuance amounting to THB 4,993 million. Key Financial Ratios Key Financial Ratios Unit 2016 2017 Profitability ratios Gross profit margin* % 22.01 24.44 Net profit margin % 13.40 16.08 Debt ratios Interest coverage times 6.09 7.85 Net debt-to-equity (Net D/E) times 0.22 0.29 Total debt-to-equity (Total D/E) times 0.50 0.49 Liquidity ratios Current ratio times 2.78 2.43 Quick ratio times 2.39 1.94 * Excluding depreciation and amortization