Ananda Development Public Company Limited and its subsidiaries

Statement of comprehensive income

For the year ended 31 December 2017
(Unit: Baht)
Consolidated financial statements Separate financial statements
Note 2017 2016 2017 2016
Profit or loss:
Revenues
Revenue from sale of real estate 6 8,931,914,200 9,780,358,801 5,682,462,465 7,613,655,001
Revenue from project management services 6 1,649,783,023 852,853,502 1,691,660,883 923,720,344
Construction service income 6 1,208,132,087 539,415,968 - -
Commission income 6 410,940,218 389,920,465 311,917,498 275,334,000
Rental income 6 22,331,753 20,126,035 10,392,740 8,494,817
Service income 6 160,128,115 130,007,236 - -
Revenue from sale of food and beverages 6 18,871,350 25,164,635 6,795,097 8,109,006
Other income
Interest income 6 223,473,335 157,452,498 411,885,327 288,301,800
Dividend income 6, 17.2 - - 255,509,944 254,999,944
Gain on sale of investment in joint ventures 6 71,258,057 - 36,581,146 -
Gain on sale of project land and real estate
development costs 6 - - - 41,101,275
Revenue from land sourcing 6 172,973,321 189,904,034 172,973,321 189,904,034
Others 80,352,712 144,572,835 42,964,538 93,282,562
Total revenues 12,950,158,171 12,229,776,009 8,623,142,959 9,696,902,783
Expenses
Cost of real estate sold 6,060,370,507 6,472,918,914 3,906,565,408 5,035,819,237
Cost of project management services 483,425,981 412,413,381 533,902,226 461,889,794
Cost of construction services 1,105,768,108 492,598,031 - -
Cost of commission income 253,512,327 192,503,555 208,303,315 106,825,950
Cost of rental 24,958,564 23,462,535 10,845,392 10,498,536
Cost of services 110,959,574 93,450,971 - -
Cost of sale of food and beverages 7,439,336 10,142,186 3,412,851 4,103,790
Selling expenses 1,111,759,237 1,015,732,423 764,301,117 773,167,056
Administrative expenses 1,463,857,239 1,489,396,325 1,135,572,998 1,201,976,484
Other expenses
Loss from impairment of investments in subsidiaries 16 - - 13,300,000 9,000,000
Total expenses 10,622,050,873 10,202,618,321 6,576,203,307 7,603,280,847
Profit before share of profit (loss) from investments
in joint ventures, finance cost and
income tax 2,328,107,298 2,027,157,688 2,046,939,652 2,093,621,936
Share of profit (loss) from investments in joint ventures 17.2 (341,522,603) 115,415,395 - -
Profit before finance cost and income tax expenses 1,986,584,695 2,142,573,083 2,046,939,652 2,093,621,936
Finance cost 6 (285,232,160) (334,835,726) (443,826,329) (389,361,811)
Profit before income tax expenses 1,701,352,535 1,807,737,357 1,603,113,323 1,704,260,125
Income tax expense 33 (372,898,049) (306,295,602) (286,648,968) (293,641,317)
Profit for the year 1,328,454,486 1,501,441,755 1,316,464,355 1,410,618,808

The accompanying notes are an integral part of the financial statements.

Ananda Development Public Company Limited and its subsidiaries
Statement of comprehensive income (continued)
For the year ended 31 December 2017
(Unit: Baht)
Consolidated financial statements Separate financial statements
Note 2017 2016 2017 2016
Other comprehensive income:
Other comprehensive income not to be reclassified
to profit or loss in subsequent periods
Actuarial gain (loss) (7,582,661) 2,769,378 (3,975,564) 2,626,680
Less: Income tax effect 33 1,516,532 (553,876) 795,113 (525,336)
Other comprehensive income not to be reclassified
to profit or loss in subsequent periods - net of income tax (6,066,129) 2,215,502 (3,180,451) 2,101,344

Other comprehensive income for the year (6,066,129) 2,215,502 (3,180,451) 2,101,344

Total comprehensive income for the year 1,322,388,357 1,503,657,257 1,313,283,904 1,412,720,152

Profit attributable to
Equity holders of the Company 1,328,454,486 1,501,441,755 1,316,464,355 1,410,618,808
Non-controlling interest of the subsidiary - -
1,328,454,486 1,501,441,755
Total comprehensive income attributable to
Equity holders of the Company 1,322,388,357 1,503,657,257 1,313,283,904 1,412,720,152
Non-controlling interest of the subsidiary - -
1,322,388,357 1,503,657,257

Earnings per share 35

Basic earnings per share
Profit attributable to equity holders of the Company 0.34 0.42 0.34 0.39

The accompanying notes are an integral part of the financial statements.

Ananda Development Public Company Limited and its subsidiaries
Statement of comprehensive income
For the year ended 31 December 2017
(Unit: Baht)
Consolidated financial statements Separate financial statements
Notes 2017 2016 2017 2016
Profit or loss:
Revenues
Revenue from sale of real estate 6 8,931,914,200 9,780,358,801 5,682,462,465 7,613,655,001
Cost of real estate sold (6,060,370,507) (6,472,918,914) (3,906,565,408) (5,035,819,237)
Gross Profit 2,871,543,693 3,307,439,887 1,775,897,057 2,577,835,764
Revenue from project management services 6 1,649,783,023 852,853,502 1,691,660,883 923,720,344
Construction service income 6 1,208,132,087 539,415,968 - -
Commission income 6 410,940,218 389,920,465 311,917,498 275,334,000
Rental income 6 22,331,753 20,126,035 10,392,740 8,494,817
Service income 6 160,128,115 130,007,236 - -
Revenue from sale of food and beverages 6 18,871,350 25,164,635 6,795,097 8,109,006
Cost of project management services (483,425,981) (412,413,381) (533,902,226) (461,889,794)
Cost of construction services (1,105,768,108) (492,598,031) - -
Cost of commission income (253,512,327) (192,503,555) (208,303,315) (106,825,950)
Cost of rental (24,958,564) (23,462,535) (10,845,392) (10,498,536)
Cost of services (110,959,574) (93,450,971) - -
Cost of sale of food and beverages (7,439,336) (10,142,186) (3,412,851) (4,103,790)
Selling expenses (1,111,759,237) (1,015,732,423) (764,301,117) (773,167,056)
Administrative expenses (1,463,857,239) (1,489,396,325) (1,135,572,998) (1,201,976,484)
Core earnings 1,780,049,873 1,535,228,321 1,140,325,376 1,235,032,321
Interest income 6 223,473,335 157,452,498 411,885,327 288,301,800
Dividend income 6, 17.2 - - 255,509,944 254,999,944
Gain on sale of investment in joint ventures 6 71,258,057 - 36,581,146 -
Gain on sale of project land and real estate
development costs 6 - - - 41,101,275
Revenue from land sourcing 6 172,973,321 189,904,034 172,973,321 189,904,034
Other income 80,352,712 144,572,835 42,964,538 93,282,562
Other expenses 16 - - (13,300,000) (9,000,000)
Profit before share of profit (loss) from investments
in joint ventures, finance cost and
income tax 2,328,107,298 2,027,157,688 2,046,939,652 2,093,621,936
Share of profit (loss) from investments in joint ventures 17.2 (341,522,603) 115,415,395 - -
Profit before finance cost and income tax expenses 1,986,584,695 2,142,573,083 2,046,939,652 2,093,621,936
Finance cost 6 (285,232,160) (334,835,726) (443,826,329) (389,361,811)
Profit before income tax expenses 1,701,352,535 1,807,737,357 1,603,113,323 1,704,260,125
Income tax expense 33 (372,898,049) (306,295,602) (286,648,968) (293,641,317)
Profit for the year 1,328,454,486 1,501,441,755 1,316,464,355 1,410,618,808

The accompanying notes are an integral part of the financial statements.

Ananda Development Public Company Limited and its subsidiaries
Statement of comprehensive income
For the year ended 31 December 2017
(Unit: Baht)
Separate financial statements
Notes 2017 common size 2016 common size growth
Profit or loss:
Revenues
Revenue from sale of real estate 6 5,682,462,465 100.00% 7,613,655,001 100.00% -25.36%
Cost of real estate sold (3,906,565,408) -68.75% (5,035,819,237) -66.14% -22.42%
Gross Profit 1,775,897,057 31.25% 2,577,835,764 33.86% -31.11%
Revenue from project management services 6 1,691,660,883 29.77% 923,720,344 12.13% 83.14%
Construction service income 6 - 0.00% - 0.00%
Commission income 6 311,917,498 5.49% 275,334,000 3.62% 13.29%
Rental income 6 10,392,740 0.18% 8,494,817 0.11% 22.34%
Service income 6 - 0.00% - 0.00%
Revenue from sale of food and beverages 6 6,795,097 0.12% 8,109,006 0.11% -16.20%
Cost of project management services (533,902,226) -9.40% (461,889,794) -6.07% 15.59%
Cost of construction services - 0.00% - 0.00%
Cost of commission income (208,303,315) -3.67% (106,825,950) -1.40% 94.99%
Cost of rental (10,845,392) -0.19% (10,498,536) -0.14% 3.30%
Cost of services - 0.00% - 0.00%
Cost of sale of food and beverages (3,412,851) -0.06% (4,103,790) -0.05% -16.84%
Selling expenses (764,301,117) -13.45% (773,167,056) -10.16% -1.15%
Administrative expenses (1,135,572,998) -19.98% (1,201,976,484) -15.79% -5.52%
Core earnings 1,140,325,376 20.07% 1,235,032,321 16.22% -7.67%
Interest income 6 411,885,327 7.25% 288,301,800 3.79% 42.87%
Dividend income 6, 17.2 255,509,944 4.50% 254,999,944 3.35% 0.20%
Gain on sale of investment in joint ventures 6 36,581,146 0.64% -
Gain on sale of project land and real estate
development costs 6 - 0.00% 41,101,275 0.54% -100.00%
Revenue from land sourcing 6 172,973,321 3.04% 189,904,034 2.49% -8.92%
Other income 42,964,538 0.76% 93,282,562 1.23% -53.94%
Other expenses 16 (13,300,000) -0.23% (9,000,000) -0.12% 47.78%
Profit before share of profit (loss) from investments
in joint ventures, finance cost and
income tax 2,046,939,652 36.02% 2,093,621,936 27.50% -2.23%
Share of profit (loss) from investments in joint ventures 17.2 - 0.00% - 0.00%
Profit before finance cost and income tax expenses 2,046,939,652 36.02% 2,093,621,936 27.50% -2.23%
Finance cost 6 (443,826,329) -7.81% (389,361,811) -5.11% 13.99%
Profit before income tax expenses 1,603,113,323 28.21% 1,704,260,125 22.38% -5.93%
Income tax expense 33 (286,648,968) -5.04% (293,641,317) -3.86% -2.38%
Profit for the year 1,316,464,355 23.17% 1,410,618,808 18.53% -6.67%

The accompanying notes are an integral part of the financial statements.

Ananda Development Public Company Limited and its subsidiaries
Statement of comprehensive income
For the year ended 31 December 2017
(Unit: Baht)
Consolidated financial statements
Notes 2017 common size 2016 common size growth
Profit or loss:
Revenues
Revenue from sale of real estate 6 8,931,914,200 100.00% 9,780,358,801 100.00% -8.67%
Cost of real estate sold (6,060,370,507) -67.85% (6,472,918,914) -66.18% -6.37%
Gross Profit 2,871,543,693 32.15% 3,307,439,887 33.82% -13.18%
Revenue from project management services 6 1,649,783,023 18.47% 852,853,502 8.72% 93.44%
Construction service income 6 1,208,132,087 13.53% 539,415,968 5.52% 123.97%
Commission income 6 410,940,218 4.60% 389,920,465 3.99% 5.39%
Rental income 6 22,331,753 0.25% 20,126,035 0.21% 10.96%
Service income 6 160,128,115 1.79% 130,007,236 1.33% 23.17%
Revenue from sale of food and beverages 6 18,871,350 0.21% 25,164,635 0.26% -25.01%
Cost of project management services (483,425,981) -5.41% (412,413,381) -4.22% 17.22%
Cost of construction services (1,105,768,108) -12.38% (492,598,031) -5.04% 124.48%
Cost of commission income (253,512,327) -2.84% (192,503,555) -1.97% 31.69%
Cost of rental (24,958,564) -0.28% (23,462,535) -0.24% 6.38%
Cost of services (110,959,574) -1.24% (93,450,971) -0.96% 18.74%
Cost of sale of food and beverages (7,439,336) -0.08% (10,142,186) -0.10% -26.65%
Selling expenses (1,111,759,237) -12.45% (1,015,732,423) -10.39% 9.45%
Administrative expenses (1,463,857,239) -16.39% (1,489,396,325) -15.23% -1.71%
Core earnings 1,780,049,873 19.93% 1,535,228,321 15.70% 15.95%
Interest income 6 223,473,335 2.50% 157,452,498 1.61% 41.93%
Dividend income 6, 17.2 - 0.00% -
Gain on sale of investment in joint ventures 6 71,258,057 0.80% -
Gain on sale of project land and real estate
development costs 6 - 0.00% -
Revenue from land sourcing 6 172,973,321 1.94% 189,904,034 1.94% -8.92%
Other income 80,352,712 0.90% 144,572,835 1.48% -44.42%
Other expenses 16 - 0.00% -
Profit before share of profit (loss) from investments
in joint ventures, finance cost and
income tax 2,328,107,298 26.07% 2,027,157,688 20.73% 14.85%
Share of profit (loss) from investments in joint ventures 17.2 (341,522,603) -3.82% 115,415,395 1.18% -395.91%
Profit before finance cost and income tax expenses 1,986,584,695 22.24% 2,142,573,083 21.91% -7.28%
Finance cost 6 (285,232,160) -3.19% (334,835,726) -3.42% -14.81%
Profit before income tax expenses 1,701,352,535 19.05% 1,807,737,357 18.48% -5.88%
Income tax expense 33 (372,898,049) -4.17% (306,295,602) -3.13% 21.74%
Profit for the year 1,328,454,486 14.87% 1,501,441,755 15.35% -11.52%

The accompanying notes are an integral part of the financial statements.