Financial Highlights
(Unit: Baht-Million)
2010 2011
Overall Results
Sales revenue 1,755.24 4,685.12
Total revenue 1.790.63 4,709.28
Gross profit 237.73 786.45
Net profit (Loss) 70.78 395.68
Financial Ratio
Gross profit Margin (%) 13.54 16.79
Net profit margin (%) 3.95 8.40
Return on average equities (%) 23.76 36.33
Return on average assets (%) 6.93 14.55
Total assets 1,332.44 4,102.51
Total liabilities 992.92 2,263.54
Shareholders’ equity 339.52 1,838.97
Revenue Structure from Coal Sales
Revenue structure from coal sales in the past are as follows:
Revenue Type
|
2009
|
2010
|
2011
| ||||||
Baht- Million
|
%
|
Baht-Million
|
%
|
Baht-Million
|
%
| ||||
Revenue from coal sales
| |||||||||
Domestic
|
244.13
|
24.25%
|
330.62
|
18.84%
|
926.65
|
19.78%
| |||
Foreign
|
762.74
|
75.75%
|
1,424.62
|
81.16%
|
3,758.47
|
80.22%
| |||
Total revenues
|
1,006.87
|
100%
|
1,755.24
|
100%
|
4,685.12
|
100%
|
Year 2010 and 2011 is consolidated financial statement of EARTH
In 2010, the Company Group paid closer attention to do marketing on customers who are direct customers to reduce risks of relying on a few very large customers and to ensure continuous growth of the Company, which resulted in an increase of domestic sales revenue. However, the international sales revenue is also increased along with the domestic sales revenue.
In 2011, the Company Group expanded customers both domestically and internationally. Because of the Oil market crisis, coal was chosen as a primary alternative energy which resulted in the Company Group’s 166.92% increased revenue from the year 2010
Risk from price fluctuation of coal
The higher oil price had resulted in higher coal price because they both are alternative energy for each other. Coal’s cost however still remains lower. In January 2012, the oil price was USD 107.40 per barrel while coal price was USD 46.80 per metric ton.
Graph showing oil and coal price during 2011-2012
JAN
|
FEB
|
MAR
|
APR
|
MAY
|
JUN
|
JUL
|
AUG
|
SEP
|
OCT
|
NOV
|
DEC
|
JAN
2012 |
54
|
52.5
|
52.1
|
52.2
|
52.4
|
52.9
|
52
|
51.5
|
53
|
51.7
|
49.7
|
46.8
|
46.8
|
Coal price fluctuation in market makes the selling and purchasing price harder to set. Since there is an uptrend of coal consumption and number of coal supplier is limited, the demand of coal is still higher than supply of coal. Company Group, therefore, can set the selling price by adding some satisfied premium from raw material price. On the contrary, in a downtrend of coal price, Company Group may not receive as high premium as compare to the uptrend environment. Therefore, the Company Group purchased coal mines with 7.4 million tons of coal reserve in 2011 and plan to purchase more mines every year to reduce this risk.