Notes. Notes to the interim financial statements form an integral part of these statements. Notes

Transcription

1 STATEMENTS OF FINANCIAL POSITION ASSETS As at As at As at As at June 30, 2014 December 31, 2013 June 30, 2014 December 31, 2013 Notes Current Assets Cash and cash equivalents 4 3,314,979 2,522, , ,588 Short-term investments Fixed deposit at bank 803,933 3,215,149-1,068,052 Investments in Open-end Fund 5-50, Investments in related party 9 4, Total short-term investments 808,300 3,265,908-1,068,052 Trade and other receivables 6 1,257,190 1,483, , ,182 Short-term loans to related parties 7 57,865 91,495 2,301, ,968 Inventories 4,675 4, Other current assets Dividend receivable - - 2,109,988 2,349,984 Concerts and television programmes under process 106,338 72, Accrued interest income 7,758 22,444 45,091 16,667 Others 322, ,734 39,238 31,170 Total other current assets 436, ,529 2,194,317 2,397,821 Total Current Assets 5,879,653 7,630,204 5,870,002 5,460,611 Non-current Assets Available-for-sale securities 8 349, , , ,788 Investments in associates 9 121,344 86, Investments in subsidiaries , ,350 Bank deposits with obligation 88,451 86, Other long-term investments 3,000 3, Investments property 65,150 65, Property, plant and equipment 417, ,818 11,700 11,647 Intangible assets 65,404 70, Deferred right to use property 1,113,904 1,148, Deferred right to use spectrum 10 6,394, Deferred additional compensation 268, , Deposit guarantee on application for spectrum licensing , Deferred pictures rental, picture products, plays and copyright charges 1,577,484 1,387, , ,906 Deposit on pictures copyright 7,893 4,079 5,893 2,079 Prepaid plays production 462, , , ,683 Deferred tax assets , ,483-24,659 Other non-current assets 113,039 87,322 9,990 9,990 Total Non-current Assets 11,207,624 4,565,864 2,486,525 # 2,097,752 TOTAL ASSETS 17,087,277 12,196,068 8,356,527 7,558,363 STATEMENTS OF FINANCIAL POSITION LIABILITIES AND SHAREHOLDERS' EQUITY As at As at As at As at June 30, 2014 December 31, 2013 June 30, 2014 December 31, 2013 Notes Current Liabilities Short-term borrowing from financial institutions 91, , Trade and other payables , , , ,439 Accrued expenses 877, ,839 62,977 30,347 Current portion of financial leases 1,059 1, Current portion of accrued right to use spectrum 13 1,053, Short-term borrowings from related parties ,000 - Corporate income tax payable 394, ,630 37,198 29,177 Other current liabilities Revenue Department payable 105, ,370 16,590 15,209 Undue sale tax 68,923 83,972 40,946 46,759 Cash received from selling ticketsthe contracting companies 121, , Unearned revenue 298, , Others 5,575 4,606 1, Total other current liabilities 599, ,043 58,610 62,673 Total Current Liabilities 3,920,910 2,606,512 1,316, ,636 Non-current Liabilities Financial leases 2,361 2, Accrued right to use spectrum 13 3,958, Provision for long-term employee benefits , ,171 48,665 47,681 Defered tax liabilities ,935 - Other non-current liabilities Total Non-current Liabilities 4,449, ,655 55,600 47,681 Total Liabilities 8,370,738 3,081,167 1,372, ,317 Shareholders' Equity Share capital Authorized share capital 2,000,000,000 common stocks of Baht 1 par value 2,000,000 2,000,000 2,000,000 2,000,000 Issued and paid-up share capital 2,000,000,000 common stocks at Baht 1 each 2,000,000 2,000,000 2,000,000 2,000,000 Premium on common stocks 1,166,725 1,166,725 1,166,725 1,166,725 Retained earnings

2 Appropriated Legal reserve 200, , , ,000 Unappropriated 4,891,476 5,364,467 3,409,970 3,705,750 Other components of shareholders' equity 209,521 95, ,741 93,571 Total Shareholders' Equity of Parent Company 8,467,722 8,827,056 6,984,436 7,166,046 Non-controlling interests 248, , Total Shareholders' Equity 8,716,539 9,114,901 6,984,436 7,166,046 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 17,087,277 12,196,068 8,356,527 7,558,363 STATEMENTS OF INCOME FOR THE THREE-MONTH PERIOD ENDED JUNE 30, 2014 EXCEPT EARNINGS PER SHARE PRESENTED IN BAHT Note REVENUES Advertising income 3,813,882 3,761, , ,024 Income from copyright and other services 91, , , ,973 Income from organizing concerts and shows 29, , Sales of goods 21,400 19, Dividend income - - 2,109,988 2,327,184 Other incomes Interest income 28,822 42,712 29,611 19,147 Others 7,698 12, Total other incomes 36,520 55,113 29,715 19,193 Total Revenues 3,992,753 4,251,311 2,961,837 3,081,374 EXPENSES Cost of sales and services 2,010,040 1,681, , ,762 Cost of organizing concerts and shows 34, , Selling expenses 137, ,905 2,216 1,024 Administrative expenses 348, ,460 58,789 54,322 Directors' remuneration 4,850 5,570 4,850 5,570 Finance costs 1, ,178 - Total Expenses 2,536,541 2,407, , ,678 Share of profit of associates held by subsidiary 20,773 13, Profit before Income Tax Expenses 1,476,985 1,857,148 2,361,575 2,594,696 Income Tax Expenses , ,137 51,090 54,199 Profit for the periods 1,194,143 1,485,011 2,310,485 2,540,497 Profit attributable to Equity holders of the parent 1,178,476 1,421,623 2,310,485 2,540,497 Non-controlling interests 15,667 63, ,194,143 1,485,011 2,310,485 2,540,497 Earnings per share to equity holders of the parent Basic Earnings Per Share (Baht) Issued and paid-up 2,000,000,000 common stocks STATEMENTS OF COMPREHENSIVE INCOME FOR THE THREE-MONTH PERIOD ENDED JUNE 30, 2014 Profit for the periods 1,194,143 1,485,011 2,310,485 2,540,497 Other Comprehensive Income :- Translation of financial statements differences 1,894 1, Gain on remeasuring available-for-sale securities 52,425 43,687 52,425 43,687 Components of income tax (10,485) (8,737) (10,485) (8,737) Gain on remeasuring available-for-sale securities-net of tax 41,940 34,950 41,940 34,950 Other Comprehensive Income for the periods-net of tax 43,834 36,872 41,940 34,950 Total comprehensive income for the periods 1,237,977 1,521,883 2,352,425 2,575,447 Total comprehensive income attributable to Equity holders of the parent 1,221,553 1,457,726 2,352,425 2,575,447 Non-controlling interests 16,424 64, ,237,977 1,521,883 2,352,425 2,575,447

3 STATEMENTS OF INCOME EXCEPT EARNINGS PER SHARE PRESENTED IN BAHT Notes REVENUES Advertising income 7,321,986 7,308, , ,808 Income from copyright and other services 190, ,099 1,067, ,555 Income from organizing concerts and shows 173, , Sales of goods 41,098 33, Dividend income ,143,588 2,327,184 Other incomes Interest income 58,854 80,971 54,598 38,199 Others 17,502 17, Total other incomes 76,356 98,469 54,926 38,505 Total Revenues 7,803,375 8,123,796 3,732,271 3,781,052 EXPENSES Cost of sales and services 3,783,170 3,245, , ,921 Cost of organizing concerts and shows 145, , Selling expenses 251, ,888 2,961 1,024 Administrative expenses 708, , , ,935 Directors' remuneration 15 10,070 10,480 10,070 10,480 Finance costs 3, ,523 - Total Expenses 16 4,902,791 4,513,763 1,136, ,360 Share of profit of associates held by subsidiary 35,110 26, Profit before Income Tax Expenses 2,935,694 3,636,854 2,595,665 2,807,692 Income Tax Expenses , ,313 91,445 97,014 Profit for the periods 2,347,926 2,906,541 2,504,220 2,710,678 Profit attributable to Equity holders of the parent 2,327,009 2,802,742 2,504,220 2,710,678 Non-controlling interests 20, , ,347,926 2,906,541 2,504,220 2,710,678 Earnings per share to equity holders of the parent Basic Earnings Per Share (Baht) Issued and paid-up 2,000,000,000 common stocks STATEMENTS OF COMPREHENSIVE INCOME Profit for the periods 2,347,926 2,906,541 2,504,220 2,710,678 Other Comprehensive Income (Loss):- Translation of financial statements differences (856) Gain on remeasuring available-for-sale securities 142, , , ,015 Components of income tax (28,542) (21,203) (28,542) (21,203) Gain on remeasuring available-for-sale securities-net of tax 114,170 84, ,170 84,812 Actuarial losses from employee benefit plan - (38,223) - (4,248) Components of income tax - 7, Actuarial losses from employee benefit plan-net of tax - (30,964) - (3,398) Other comprehensive income for the periods-net of tax 113,314 54, ,170 81,414 Total comprehensive income for the periods 2,461,240 2,961,049 2,618,390 2,792,092

4 Total comprehensive income attributable to Equity holders of the parent 2,440,666 2,860,484 2,618,390 2,792,092 Non-controlling interests 20, , ,461,240 2,961,049 2,618,390 2,792,092 STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY Equity holders of the parent Non-controlling interests Year 2014 Beginning balances, January 1, ,000,000 1,166, ,000 5,364,467 2,293 93,571 95,864 8,827, ,845 9,114,901 Total comprehensive income for the period ,327,009 (513) 114, ,657 2,440,666 20,574 2,461,240 Non-controlling interests increase during the period Non-controlling interests decrease during the period from dissolution of subsidiary - (4,196) (4,196) Dividend payment 15 (2,800,000) (2,800,000) - (2,800,000) Subsidiary's dividend paid to non-controlling interests - (55,412) (55,412) Ending balances, June 30, ,000,000 1,166, ,000 4,891,476 1, , ,521 8,467, ,817 8,716,539 Year 2013 Beginning balances, January 1, ,000,000 1,166, ,000 4,702,449 (128) 13,419 13,291 8,082, ,834 8,307,299 Total comprehensive income for the period 2013 :- Comprehensive income for the period 2,802, ,812 85,208 2,887, ,063 2,992,013 Actuarial losses from employee benefit plan (27,466) (27,466) (3,498) (30,964) Total comprehensive income for the period ,775, ,812 85,208 2,860, ,565 2,961,049 Dividend payment 15 (2,500,000) (2,500,000) - (2,500,000) Subsidiary's dividend paid to non-controlling interests - (44,817) (44,817) Ending balances, June 30, ,000,000 1,166, ,000 4,977, ,231 98,499 8,442, ,582 8,723,531 Retained earnings Other components of shareholders' equity Issued and paidup share capital common stocks Appropriated - Premium on Other comprehensive income (loss) Unappropriated Legal reserve Translation of Available-for-sale Notes financial statements investments Total other components of shareholders' equity Total equity holders of the parent Total shareholders' equity STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY Issued and paidup share capital Premium on common stocks Appropriated - Legal reserve Retained earnings Unappropriated Other components of shareholders' equity Other comprehensive Total shareholders' income equity Available-for-sale investments Notes Year 2014 Beginning balances, January 1, ,000,000 1,166, ,000 3,705,750 93,571 7,166,046 Total comprehensive income for the period ,504, ,170 2,618,390 Dividend payment 15 (2,800,000) - (2,800,000) Ending balances, June 30, ,000,000 1,166, ,000 3,409, ,741 6,984,436 Year 2013 Beginning balances, January 1, ,000,000 1,166, ,000 3,103,230 13,419 6,483,374 Total comprehensive income for the period 2013 :- Comprehensive income for the period 2,710,678 84,812 2,795,490 Actuarial losses from employee benefit plan (3,398) - (3,398) Total comprehensive income for the period ,707,280 84,812 2,792,092 Dividend payment 15 (2,500,000) - (2,500,000) Ending balances, June 30, ,000,000 1,166, ,000 3,310,510 98,231 6,775,466 STATEMENTS OF CASH FLOWS (1/4)

5 CASH FLOWS FROM OPERATING ACTIVITIES Profit before income tax expenses 2,935,694 3,636,854 2,595,665 2,807,692 ADJUSTMENTS TO RECONCILE PROFIT BEFORE INCOME TAX EXPENSES TO NET CASH PROVIDED FROM (USED IN) OPERATIONS Depreciation 50,096 45,375 2,005 1,655 Amortization of intangible assets 27,149 23, Amortization of right to use property 104,789 73, Amortization of right to use spectrum 79, Amortization of additional compensation 23,198 23, Amortization of pictures rental, plays, picture products and copyright charges 1,043, , , ,736 Amortization of withholding tax Allowance for goods returned 1, Bad debts -Trade accounts receivable Short-term loans to related parties Increase (decrease) in doubtful debt-trade accounts receivable (325) Short-term loans to related parties (627) 28 3,401 2,430 Increase in allowance for diminution of inventories 2, Unrealized gain on investments in Open-end Fund - (219) - - (Gain) loss on equipment and intangible assets disposal (264) Unrealized (gain) loss on exchange rates 1,030 (260) 74 - Dividend income - - (2,143,588) (2,327,184) Interest income (58,854) (80,971) (54,598) (38,199) Interest expenses 3, ,523 - Share of profit of associates held by subsidiary (35,110) (26,821) - - Long-term employee benefits expenses 16,956 17, ,247 Gain on investment sale in associates held by subsidiary (40) Share of loss on subsidiary dissolution held by subsidiary Share of loss on non-controlling interests of subsidiaries dissolution held by subsidiary Profit from operation before changes in operating assets and liabilities items 4,195,818 4,581,429 1,286,482 1,162,377 STATEMENTS OF CASH FLOWS (2/4) CASH FLOWS FROM OPERATING ACTIVITIES (CONTINUED) (INCREASE) DECREASE IN OPERATING ASSETS ITEMS Investments in Open-end Fund 50,759 (50,000) - - Trade and other receivables 225,245 (212,315) 130,004 (76,607) Inventories (2,821) (3,651) - - Other current assets (185,416) (57,405) (8,068) (10,676) Deposit on pictures copyright charges (3,814) (300) (3,814) - Prepaid plays production 30,704 (57,799) 30,704 (57,799) Other non-current assets (10,563) (14,468) - (2) INCREASE (DECREASE) IN OPERATING LIABILITIES ITEMS Trade and other payables (29,879) 224,972 (14,832) 43,196 Accrued expenses 315, ,043 18,107 17,131 Other current liabilities 100, ,495 (4,066) (13,811) Provision for employee benefits (45) (486) - - Other non-current liabilities CASH PROVIDED FROM OPERATION 4,685,626 4,894,555 1,434,517 1,063,809 Interest expenses paid (3,944) (114) - - Income tax expenses paid (762,461) (835,312) (80,372) (115,587) Translation of financial statements differences (96) NET CASH PROVIDED FROM OPERATING ACTIVITIES 3,919,125 4,059,159 1,354, ,222 CASH FLOWS FROM INVESTING ACTIVITIES Decrease in fixed deposit at bank 2,411,216 1,062,006 1,068, ,686 Decrease in deposit at financial institutions - 250, Increase in bank deposit with obligation (1,979) (2,286) - - Interest income 73,531 93,117 21,769 42,836 Proceeds from dividend income - - 2,383,584 2,137,184 Increase in short-term loans to related parties - (600) (1,673,000) (92,000) Settlement from short-term loans to related parties 32,815-60,000 22,000 Proceeds from investments disposal in associate held by subsidiary Payment on paid-up shares of subsidiary - - (149,994) - Purchase of equipment (79,209) (82,542) (2,030) (82) Proceeds from equipment and intangible assets disposal Increase in intangible assets (20,941) (28,763) - - Increase in right to use property (70,333) (127,165) - - Increase in pictures rental, picture products, plays and copyright charges (1,233,402) (959,098) (1,214,518) (939,509) Proceeds from plays disposal , ,904 Payment for right to use spectrum (1,256,100) NET CASH PROVIDED FROM (USED IN) INVESTING ACTIVITIES (143,835) 205, ,802 2,132,019 STATEMENTS OF CASH FLOWS (3/4)

6 CASH FLOWS FROM FINANCING ACTIVITIES Decrease in short-term borrowings from financial institutions (118,772) Increase in short-term borrowings from related parties ,000 - Dividend payment (2,800,000) (2,500,000) (2,800,000) (2,500,000) Subsidiary's dividend paid to non-controlling interests (55,417) (44,817) - - Payment of financial leases (504) (386) - - Proceeds from capital of non-controlling interests NET CASH USED IN FINANCING ACTIVITIES (2,974,687) (2,545,203) (1,850,000) (2,500,000) NET INCREASE IN CASH AND CASH EQUIVALENTS 800,603 1,719, , ,241 CASH AND CASH EQUIVALENTS AS AT JANUARY 1, 2,522,664 3,097, ,588 1,192,232 LESS CASH AND CASH EQUIVALENTS TRANSFERRED OUT FROM DISSOLUTION SUBSIDIARY HELD BY SUBSIDIARY (SUPPLEMENTARY STATEMENT 1) (8,288) CASH AND CASH EQUIVALENTS AS AT JUNE 30, 3,314,979 4,816, ,535 1,772,473 ADDITIONAL DISCLOSURE ITEMS TO CASH FLOWS STATEMENTS : NON-CASH ITEMS CONSIST OF Transferred accrued interest income to short-term loans to related parties - - 4,405 2,096 Accrued dividend income - - 2,109,988 2,289,984 Transferred withholding tax over 1 year to non-current assets 16,076 3, Increase in equipment and intangible assets from assets payable 74,760 5, Increase in equipment from financial leases - 1, Subsidiary's dividend payable to non-controlling interests Decrease investments in associate due to translation of financial statements differences on exchange rate (760) (630) - - Available-for-sale securities Gain on remeasuring available-for-sale securities 142, , , ,015 Transferred investments in subsidiary dissolution to investments in related party 4, Transferred leasehold improvement and equipment to intangible assets 2, Decrease in other payable from cancellation of royalty foolball players (2,117) Transferred prepaid expense to right to use spectrum (3,000) Transferred deposit guarantee on application for spectrum licensing to right to use spectrum (203,000) Increase deferred right to use spectrum from accrued right to use spectrum 5,011, Effect of adjusted actuarial losses from employee benefit plan - Increase deferred tax assets - 7, Increase provision for long-term employee benefits - (38,643) - (4,248) - Decrease retained earnings - 27,466-3,398 - Decrease non-controlling interests - 3, STATEMENTS OF CASH FLOWS (4/4) SUPPLEMENTARY STATEMENT 1 Dissolution of subsidiary held by subsidiary On April 1, 2014, IMG BEC-TERO SPORTS & ENTERTAINMENT COMPANY LIMITED which is subsidiary of BEC-TERO ENTERTAINMENT PUBLIC COMPANY LIMITED has dissolved. Therefore, outstanding assets and liabilities are transferred out from the consolidation, as follows : Cash and cash equivalents 8,288 Trade and other receivables 378 Other current assets 146 Equipment 56 Intangible assets 16 Other non-current assets 96 Trade and other payables (128) Accrued expenses (40) Other current liabilities (24) Non-controlling interests (4,306) Investments in subsidiary at the beginning of the period 4,482 Share of loss on subsidiary's dissolution (115) Investments in subsidiary date as at dissolution 4,367 Transferred investments in subsidiary dissolution to investments in related party (4,367) Investments in subsidiary date as at dissolution -