SCI Annual Report 2015
Annual Report Annual Report
SCI Electric Public Company Limited SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE TEAR ENDED 31 DECEMBER 2015 31. Income Tax In Baht Consolidated financial statements Separate financial statements 2015 2014 2015 2014 Current income tax 37,085,228 92,159,394 2,340,263 52,387,611 Deferred tax 1,111,958 (1,255,018) 127,060 (1,549,431) Income tax expense 38,197,186 90,904,376 2,467,323 50,838,180 The tax on the profit before tax differs from the tax for filing purposes amount as follows: In Baht Consolidated financial statements Separate financial statements 2015 2014 2015 2014 Accounting profit before income tax 225,252,456 417,414,593 137,114,794 249,959,614 Tax calculated at a tax rate of 20% 45,050,491 83,482,919 27,422,959 49,991,923 Tax effects of : Income not subject to tax (7,559,860) - (7,559,860) - Non-deductible expenses 18,440,360 8,998,405 1,091,500 2,717,618 Additional expense deductions allowed (18,845,763) (321,930) (18,614,336) (321,930) Current income tax 37,085,228 92,159,394 2,340,263 52,387,611 Changes of temporary differences 1,111,958 (1,255,018) 127,060 (1,549,431) Income tax expenses presented in the statements of comprehensive income 38,197,186 90,904,376 2,467,323 50,838,180 Further information about deferred income tax is presented in Note 20. 32. Basic Earnings Per Share Basic earnings per share is calculated by dividing the net profit attributable to shareholders of the Company by the weighted average number of common shares in issue during the year and adjusted the number of common by the devaluation of par value from Baht 100 per share to Baht 1 per share as resolution of the Extraordinary General Shareholders Meeting No. 1/2558 on 22 April 2015 (as mentioned in Note 26) as if the change in number of common shares are incurred at the beginning. In Baht Consolidated financial statements Separate financial statements 2015 2014 2015 2014 Profit for year (Baht) 187,055,270 326,510,217 134,647,471 199,121,434 Weighted average number of common shares outstanding (Shares) 501,616,438 165,000,000 501,616,438 165,000,000 Basic earnings per share (Baht per share) 0.37 1.98 0.27 1.21 236
SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE TEAR ENDED 31 DECEMBER 2015 33. Segment Information Operating segment information is reported in a manner consistent with the internal reports that are regularly reviewed by the chief operating decision maker in order to make decisions about the allocation of resources to the segment and assess its performance. The Group divides its business into three main segments, i.e. manufacturer of switch board, galvanized services and other services and each mainly consisted of the following: Manufacture of switch board Manufacture and sell of low and medium voltage electrical switchboard, cable tray, support system and related equipment. Manufacture and galvanized service Manufacture and sell galvanized steel structures which are transmission line tower, telecommunication tower, substation steel structure, Galvanizing steel structure and hot dip galvanized service. Services and others Project management, engineering, procurement and construction in high-voltage transmission line system, substation and Selling of electricity produced from the hydroelectric power plant in Laos. In million Baht Consolidated financial statements For the year ended 31 December 2014 Manufacturer of Manufacture Services and galvanized switch board service and others Total Sales income 368.52 1,135.63 21.55 1,525.70 Service income - - 564.31 564.31 Gross profit 91.83 194.40 73.43 359.66 Other income 26.83 Selling expenses (18.40) Administrative expenses (118.51) Financial costs (24.32) Profit before income tax 225.26 Income tax (38.20) Profit for the year 187.06 Annual Report 2015 Sales income 326.76 1,105.74 30.39 1,462.89 Service income - - 1,345.71 1,345.71 Gross profit 100.48 197.39 283.31 581.18 Other income 14.73 Selling expenses (16.76) Administrative expenses (134.09) Financial costs (27.65) 237
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<strong>SCI</strong> Electric Public Company Limited<br />
<strong>SCI</strong> ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES<br />
(FORMERLY KNOW AS “<strong>SCI</strong> ELECTRIC MANUFACTURER COMPANY LIMITED”)<br />
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)<br />
FOR THE TEAR ENDED 31 DECEMBER <strong>2015</strong><br />
31. Income Tax<br />
In Baht<br />
Consolidated financial statements Separate financial statements<br />
<strong>2015</strong> 2014 <strong>2015</strong> 2014<br />
Current income tax 37,085,228 92,159,394 2,340,263 52,387,611<br />
Deferred tax 1,111,958 (1,255,018) 127,060 (1,549,431)<br />
Income tax expense 38,197,186 90,904,376 2,467,323 50,838,180<br />
The tax on the profit before tax differs from the tax for filing purposes amount as follows:<br />
In Baht<br />
Consolidated financial statements Separate financial statements<br />
<strong>2015</strong> 2014 <strong>2015</strong> 2014<br />
Accounting profit before income tax 225,252,456 417,414,593 137,114,794 249,959,614<br />
Tax calculated at a tax rate of 20% 45,050,491 83,482,919 27,422,959 49,991,923<br />
Tax effects of :<br />
Income not subject to tax (7,559,860) - (7,559,860) -<br />
Non-deductible expenses 18,440,360 8,998,405 1,091,500 2,717,618<br />
Additional expense deductions allowed (18,845,763) (321,930) (18,614,336) (321,930)<br />
Current income tax 37,085,228 92,159,394 2,340,263 52,387,611<br />
Changes of temporary differences 1,111,958 (1,255,018) 127,060 (1,549,431)<br />
Income tax expenses presented in the<br />
statements of comprehensive income 38,197,186 90,904,376 2,467,323 50,838,180<br />
Further information about deferred income tax is presented in Note 20.<br />
32. Basic Earnings Per Share<br />
Basic earnings per share is calculated by dividing the net profit attributable to shareholders of the Company by the<br />
weighted average number of common shares in issue during the year and adjusted the number of common by the devaluation<br />
of par value from Baht 100 per share to Baht 1 per share as resolution of the Extraordinary General Shareholders Meeting No.<br />
1/2558 on 22 April <strong>2015</strong> (as mentioned in Note 26) as if the change in number of common shares are incurred at the beginning.<br />
In Baht<br />
Consolidated financial statements Separate financial statements<br />
<strong>2015</strong> 2014 <strong>2015</strong> 2014<br />
Profit for year (Baht) 187,055,270 326,510,217 134,647,471 199,121,434<br />
Weighted average number of<br />
common shares outstanding (Shares) 501,616,438 165,000,000 501,616,438 165,000,000<br />
Basic earnings per share (Baht per share) 0.37 1.98 0.27 1.21<br />
236
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