Page 140 - Mono Technology Public Company Limited : Annual Report 2014 EN

Shareholders equity

Shareholders equity of the Company and subsidiaries as of the end of 2014 was 2,962.53 million Baht,
decreasing by 130.40 million Baht from 2013. The Companys retained earnings from 2014 operating results amounted
to 38.89 million Baht while the dividend was paid to the shareholders in amount of 341.60 million Baht. Therefore
the retained earnings decreased by 302.71 million Baht. Nevertheless, the capital of the Company was increased
during the year 2014 by 168.00 million Baht from the stock dividend payment.

Investment Structure

As of December 31, 2014, the Company and subsidiaries recorded the total liabilities of 2,742.32 million Baht,
accounting for 48.08 percent of liability and shareholders equity. Shareholders equity was 2,962.53 million Baht,
accounting for 51.92 percent of liability and shareholders equity. Debt to Equity Ratio was 0.93 times, increasing
by 0.84 times from the year 2013.

Profitability
As of December 31, 2014, the Company and subsidiaries gross profit margin was 32.82 percent, decreasing
by 25.84 percent from 2013. Net Profit Margin was 2.43 percent, decreasing by 31.02 percent from 2013.
A key factor decreasing the profitability ratio over year was the new digital TV business of a subsidiary. Cost and
expenses increased namely costs of license fee, network service fee, content acquisition cost, utility expenses for
supporting the digital TV business operation, including related public relation, thus resulting in lower profitability ratio.

Meanwhile, the Return on Equity (ROE) for 2014 was 1.28 percent, decreasing by 26.96 percent from 2013 due to
lower profit as mentioned above.

Asset Management Ability

In 2014, the Company and subsidiaries Return on Fix Assets (ROFA) was 26.11 percent, decreasing by
286.11 percent from the previous year and Total Assets Turnover was 0.35 times, decreasing by 0.38 times because
the Company and subsidiaries had lower profit while asset investment was transacted in order to support TV digital
business.

Liquidity and Capital Adequacy

In 2014, the Company and subsidiaries liquidity ratio was 2.26 times, decreasing by 8.75 times from
the previous year. Quick Ratio was 2.02 times, decreasing by 8.58 times from 2013 due to property investment and
content acquisition to support the growth of TV digital business.

In 2014, Debt to Equity ratio was 0.93 times, increasing by 0.84 times from the previous year because
of the Companys liabilities from the acquisition for the national commercial digital terrestrial television license.
Nevertheless, the Companys capital was in adequate level.

Liability Commitments

In 2014, the future minimum lease payments required under these operating lease and service contracts
were as follows:
Unit:MillionBaht

Payment Period Amount

Within one year 179

More than one year but not exceeding 5 years 343

More than 5 years 477
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