Income Statement AIRA Factoring

Stocks

AF

TH0787010Z02

Corporate Financial Services

End-of-day quote Thailand S.E. 2026-09-28			5-day change	1st Jan Change
0.4200 ^THB	-2.33%		+2.44%	+27.27%

08-13	AIRA Factoring Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-13	AIRA Factoring Public Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: AIRA FACTORING

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Revenues	40.11M	47.75M	50.68M	46.07M	42.47M
Interest And Invest. Income (Rev)	156M	178M	189M	209M	205M
Other Revenues, Total	1.49M	1.18M	1.55M	348K	1.22M
Total Revenues	198M	226M	241M	255M	249M
Gross Profit	198M	226M	241M	255M	249M
Selling General & Admin Expenses, Total	100M	108M	115M	119M	118M
Provision for Bad Debts	-1.88M	19.35M	53.11M	33.39M	36.01M
Other Operating Expenses, Total	98.48M	127M	168M	152M	154M
Operating Income	99.35M	99.33M	72.88M	103M	94.89M
Interest Expense, Total	-34.77M	-42.57M	-63.45M	-82.1M	-75.21M
Interest And Investment Income	4.4K	7.41K	21.66K	29.95K	16.94K
Net Interest Expenses	-34.76M	-42.56M	-63.43M	-82.07M	-75.19M
Other Non Operating Income (Expenses)	-	-	-	404	-20
EBT, Excl. Unusual Items	64.59M	56.78M	9.45M	20.88M	19.7M
EBT, Incl. Unusual Items	64.59M	56.78M	9.45M	20.88M	19.7M
Income Tax Expense	15.07M	11.51M	2.63M	4.14M	4.87M
Earnings From Continuing Operations	49.52M	45.26M	6.82M	16.74M	14.83M
Net Income to Company	49.52M	45.26M	6.82M	16.74M	14.83M
Net Income - (IS)	49.52M	45.26M	6.82M	16.74M	14.83M
Net Income to Common Incl Extra Items	49.52M	45.26M	6.82M	16.74M	14.83M
Net Income to Common Excl. Extra Items	49.52M	45.26M	6.82M	16.74M	14.83M
Per Share Items
Net EPS - Basic	0.03	0.03	0	0.01	0.01
Basic EPS - Continuing Operations	0.03	0.03	0	0.01	0.01
Basic Weighted Average Shares Outstanding	1.6B	1.6B	1.6B	1.6B	1.6B
Net EPS - Diluted	0.03	0.03	0	0.01	0.01
Diluted EPS - Continuing Operations	0.03	0.03	0	0.01	0.01
Diluted Weighted Average Shares Outstanding	1.6B	1.6B	1.6B	1.6B	1.6B
Normalized Basic EPS	0.03	0.02	0	0.01	0.01
Normalized Diluted EPS	0.03	0.02	0	0.01	0.01
Dividend Per Share	0.02	0.03	-	-	-
Payout Ratio	148.64	-	750.9	191.14	-
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	100M	99.83M	73.68M	105M	96.48M
EBITA	99.35M	99.33M	72.88M	103M	94.89M
EBIT	99.35M	99.33M	72.88M	103M	94.89M
EBITDAR	101M	100M	74.07M	105M	96.86M
Total Revenues (As Reported)	198M	226M	241M	255M	249M
Effective Tax Rate - (Ratio)	23.33	20.28	27.86	19.82	24.72
Current Domestic Taxes	10.76M	13.55M	13.09M	9.69M	10.14M
Total Current Taxes	10.76M	13.55M	13.09M	9.69M	10.14M
Deferred Domestic Taxes	4.31M	-2.03M	-10.46M	-5.55M	-5.28M
Total Deferred Taxes	4.31M	-2.03M	-10.46M	-5.55M	-5.28M
Normalized Net Income	40.37M	35.48M	5.91M	13.05M	12.31M
Interest on Long-Term Debt	213K	103K	596K	2.17M	1.17M
Non-Cash Pension Expense	130K	140K	354K	374K	412K
Supplemental Operating Expense Items
General and Administrative Expenses	100M	108M	115M	119M	118M
Net Rental Expense, Total	348K	360K	391K	379K	383K
Imputed Operating Lease Interest Expense	60.61K	73.05K	112K	137K	119K
Imputed Operating Lease Depreciation	287K	287K	279K	242K	264K
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	-	-	-	-	-

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Assets
Cash And Equivalents	99.99M	69.15M	97.9M	105M	141M
Total Cash And Short Term Investments	99.99M	69.15M	97.9M	105M	141M
Accounts Receivable, Total	1.9B	2.06B	1.97B	1.82B	1.88B
Other Receivables	1.47M	1.21M	1.28M	1.74M	1.77M
Notes Receivable	218M	174M	320M	272M	566M
Total Receivables	2.12B	2.24B	2.29B	2.1B	2.45B
Other Current Assets, Total	1M	673K	1.16M	1.23M	1.22M
Total Current Assets	2.22B	2.31B	2.39B	2.2B	2.59B
Gross Property Plant And Equipment	25.27M	23.16M	44M	53.81M	46.59M
Accumulated Depreciation	-21.77M	-18.83M	-18.34M	-20.05M	-21.52M
Net Property Plant And Equipment	3.5M	4.33M	25.66M	33.76M	25.07M
Other Intangibles, Total	7.06M	5.4M	5.07M	3.9M	5.18M
Loans Receivable Long-Term	56.42M	40.34M	45.73M	121M	92.34M
Deferred Tax Assets Long-Term	22.72M	24.55M	35.01M	40.56M	46.21M
Other Long-Term Assets, Total	287K	287K	1.95M	1.95M	1.95M
Total Assets	2.31B	2.38B	2.5B	2.41B	2.76B
Liabilities
Accounts Payable, Total	51.11M	61.51M	48.97M	49.24M	69.33M
Short-term Borrowings	1.65B	1.69B	1.84B	1.72B	2.04B
Current Portion of Long-Term Debt	12M	-	-	9.93M	17.09M
Current Portion of Leases	2.37M	2.38M	9.43M	8.88M	9.06M
Current Income Taxes Payable	4.3M	6.19M	5.47M	2.89M	3.85M
Other Current Liabilities	43.11M	82.09M	34.43M	45.16M	39.37M
Total Current Liabilities	1.76B	1.84B	1.94B	1.83B	2.18B
Long-Term Debt	-	-	-	16.9M	16.56M
Long-Term Leases	563K	1.03M	11.7M	22.7M	15.24M
Pension & Other Post Retirement Benefits	19.32M	15.48M	17.01M	18.12M	20.15M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	1.78B	1.86B	1.97B	1.89B	2.23B
Common Stock, Total	400M	400M	400M	400M	400M
Additional Paid In Capital	76.25M	76.25M	76.25M	76.25M	76.25M
Retained Earnings	54.5M	49.37M	56.19M	40.93M	54.27M
Total Common Equity	531M	526M	532M	517M	531M
Total Equity	531M	526M	532M	517M	531M
Total Liabilities And Equity	2.31B	2.38B	2.5B	2.41B	2.76B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.6B	1.6B	1.6B	1.6B	1.6B
ECS Total Common Shares Outstanding	1.6B	1.6B	1.6B	1.6B	1.6B
Book Value / Share	0.33	0.33	0.33	0.32	0.33
Tangible Book Value	524M	520M	527M	513M	525M
Tangible Book Value Per Share	0.33	0.33	0.33	0.32	0.33
Total Debt	1.66B	1.69B	1.87B	1.77B	2.1B
Net Debt	1.56B	1.62B	1.77B	1.67B	1.96B
Debt Equivalent of Unfunded Proj. Benefit Obligation	19.32M	15.48M	17.01M	18.12M	20.15M
Debt Equivalent Oper. Leases	2.78M	2.88M	3.13M	3.03M	3.06M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	22.45M	19.62M	24.55M	24.8M	25.05M
Accumulated Allowance for Doubtful Accounts (Supple)	67.49M	80.13M	127M	163M	193M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Net Income	49.52M	45.26M	6.82M	16.74M	14.83M
Depreciation & Amortization - CF	6.34M	6.1M	9.12M	9.29M	9.54M
Depreciation & Amortization, Total	6.34M	6.1M	9.12M	9.29M	9.54M
Amortization of Deferred Charges, Total - (CF)	2.32M	2.48M	2.24M	1.41M	1.67M
(Gain) Loss From Sale Of Asset	-1M	-812K	-20.41K	-	26
Asset Writedown & Restructuring Costs	-	10	-	-	-
Stock-Based Compensation (CF)	-	-	-	-	-
Provision and Write-off of Bad Debts	-1.88M	19.35M	53.11M	33.39M	36.01M
Other Operating Activities, Total	7.2M	-2.79M	-9.25M	-5.91M	-1.55M
Change In Accounts Receivable	-77.04M	-181M	46.77M	108M	-91.36M
Change In Accounts Payable	-211K	1.11M	2.72M	3.26M	-209K
Change in Other Net Operating Assets	-5.3M	55.67M	-172M	-15.68M	-254M
Cash from Operations	-20.06M	-54.14M	-60.37M	150M	-285M
Capital Expenditure	-432K	-607K	-6.21M	-252K	-377K
Sale of Property, Plant, and Equipment	400K	812K	23.99K	-	-
Sale (Purchase) of Intangible assets	-642K	-1.24M	-1.65M	-503K	-2.95M
Cash from Investing	-674K	-1.04M	-7.84M	-756K	-3.33M
Short Term Debt Issued, Total	175M	42M	155M	-	325M
Long-Term Debt Issued, Total	12M	-	-	26.83M	6.82M
Total Debt Issued	187M	42M	155M	26.83M	332M
Short Term Debt Repaid, Total	-50M	-	-	-130M	-
Long-Term Debt Repaid, Total	-5.2M	-17.66M	-6.84M	-7.34M	-7.69M
Total Debt Repaid	-55.2M	-17.66M	-6.84M	-137M	-7.69M
Common Dividends Paid	-73.6M	-	-51.2M	-32M	-
Common & Preferred Stock Dividends Paid	-73.6M	-	-51.2M	-32M	-
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	58.2M	24.34M	96.96M	-143M	324M
Net Change in Cash	37.47M	-30.84M	28.75M	6.81M	36.21M
Supplemental Items
Cash Interest Paid	34.15M	42.38M	63.05M	80.99M	72.61M
Cash Income Tax Paid (Refund)	11.25M	11.66M	13.81M	12.27M	9.19M
Levered Free Cash Flow	-89.37M	-25.2M	-104M	225M	-314M
Unlevered Free Cash Flow	-67.64M	1.4M	-64.75M	276M	-267M
Change In Net Working Capital	137M	67.41M	114M	-202M	335M
Net Debt Issued / Repaid	132M	24.34M	148M	-111M	324M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Profitability
Return on Assets	2.77	2.64	1.86	2.62	2.3
Return on Total Capital	2.92	2.81	1.97	2.74	2.41
Return On Equity %	9.41	8.57	1.29	3.19	2.83
Return on Common Equity	9.41	8.57	1.29	3.19	2.83
Margin Analysis
Gross Profit Margin %	100	100	100	100	100
SG&A Margin	50.73	47.6	47.75	46.57	47.46
EBITDA Margin %	50.79	44.08	30.56	41.01	38.73
EBITA Margin %	50.22	43.86	30.22	40.34	38.09
EBIT Margin %	50.22	43.86	30.22	40.34	38.09
Income From Continuing Operations Margin %	25.03	19.98	2.83	6.56	5.95
Net Income Margin %	25.03	19.98	2.83	6.56	5.95
Net Avail. For Common Margin %	25.03	19.98	2.83	6.56	5.95
Normalized Net Income Margin	20.4	15.67	2.45	5.11	4.94
Levered Free Cash Flow Margin	-45.17	-11.13	-43.3	88.12	-126.21
Unlevered Free Cash Flow Margin	-34.19	0.62	-26.85	108.23	-107.34
Asset Turnover
Asset Turnover	0.09	0.1	0.1	0.1	0.1
Fixed Assets Turnover	30.65	57.83	16.08	8.59	8.47
Receivables Turnover (Average Receivables)	0.02	0.02	0.03	0.02	0.02
Short Term Liquidity
Current Ratio	1.26	1.25	1.23	1.2	1.19
Quick Ratio	1.14	1.16	1.07	1.05	0.93
Operating Cash Flow to Current Liabilities	-0.01	-0.03	-0.03	0.08	-0.13
Days Sales Outstanding (Average Receivables)	16.94K	15.16K	14.53K	15.08K	15.92K
Long Term Solvency
Total Debt/Equity	313.31	322.17	350.49	342.9	395.45
Total Debt / Total Capital	75.81	76.31	77.8	77.42	79.82
LT Debt/Equity	0.11	0.2	2.2	7.66	6
Long-Term Debt / Total Capital	0.03	0.05	0.49	1.73	1.21
Total Liabilities / Total Assets	77.04	77.95	78.74	78.5	80.79
EBIT / Interest Expense	2.86	2.33	1.15	1.25	1.26
EBITDA / Interest Expense	3.04	2.48	1.29	1.37	1.39
(EBITDA - Capex) / Interest Expense	3.03	2.46	1.19	1.36	1.38
Total Debt / EBITDA	15.73	16.06	22.76	15.8	20.09
Net Debt / EBITDA	14.79	15.41	21.56	14.87	18.74
Total Debt / (EBITDA - Capex)	15.8	16.15	24.62	15.84	20.16
Net Debt / (EBITDA - Capex)	14.85	15.49	23.33	14.9	18.81
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-5.76	14.49	6.47	5.82	-2.38
Gross Profit, 1 Yr. Growth %	-5.76	14.49	6.47	5.82	-2.38
EBITDA, 1 Yr. Growth %	5.57	-0.66	-26.19	42.04	-7.81
EBITA, 1 Yr. Growth %	7.58	-0.01	-26.63	41.25	-7.83
EBIT, 1 Yr. Growth %	7.58	-0.01	-26.63	41.25	-7.83
Earnings From Cont. Operations, 1 Yr. Growth %	15.93	-8.59	-84.94	145.53	-11.43
Net Income, 1 Yr. Growth %	15.93	-8.59	-84.94	145.53	-11.43
Normalized Net Income, 1 Yr. Growth %	28.37	-12.09	-83.35	120.9	-5.65
Diluted EPS Before Extra, 1 Yr. Growth %	15.93	-8.41	-84.94	145.55	-11.43
Accounts Receivable, 1 Yr. Growth %	4.33	8.58	-4.54	-7.4	3.05
Net Property, Plant and Equip., 1 Yr. Growth %	-62.8	23.8	492.28	31.55	-25.74
Total Assets, 1 Yr. Growth %	6.19	3.15	5.04	-3.93	14.76
Tangible Book Value, 1 Yr. Growth %	2.1	-0.66	1.37	-2.67	2.35
Common Equity, 1 Yr. Growth %	1.83	-0.97	1.3	-2.87	2.58
Cash From Operations, 1 Yr. Growth %	-105.16	169.98	11.5	-348.58	-289.63
Capital Expenditures, 1 Yr. Growth %	112.82	40.49	923.24	-95.94	49.61
Levered Free Cash Flow, 1 Yr. Growth %	-120.33	-71.8	314.29	-315.37	-239.82
Unlevered Free Cash Flow, 1 Yr. Growth %	-114.52	-102.07	-4.72K	-526.52	-196.82
Dividend Per Share, 1 Yr. Growth %	19.05	28	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-7.37	3.87	10.41	6.15	1.64
Gross Profit, 2 Yr. CAGR %	-7.37	3.87	10.41	6.15	1.64
EBITDA, 2 Yr. CAGR %	-2.83	2.41	-14.37	2.39	14.43
EBITA, 2 Yr. CAGR %	-2.02	3.71	-14.35	1.8	14.1
EBIT, 2 Yr. CAGR %	-2.02	3.71	-14.35	1.8	14.1
Earnings From Cont. Operations, 2 Yr. CAGR %	8.38	2.94	-62.89	-39.18	47.47
Net Income, 2 Yr. CAGR %	8.38	2.94	-62.89	-39.18	47.47
Normalized Net Income, 2 Yr. CAGR %	15.24	6.23	-61.74	-39.36	44.37
Diluted EPS Before Extra, 2 Yr. CAGR %	8.37	2.96	-62.87	-39.18	47.47
Accounts Receivable, 2 Yr. CAGR %	-10.98	6.44	1.81	-5.98	-2.31
Net Property, Plant and Equip., 2 Yr. CAGR %	-28.03	-32.14	170.78	179.13	-1.16
Total Assets, 2 Yr. CAGR %	-4.91	4.66	4.09	0.45	5
Tangible Book Value, 2 Yr. CAGR %	0.23	0.71	0.35	-0.67	-0.19
Common Equity, 2 Yr. CAGR %	0.22	0.42	0.16	-0.81	-0.18
Cash From Operations, 2 Yr. CAGR %	4.91	-62.68	73.5	66.49	117.11
Capital Expenditures, 2 Yr. CAGR %	-39.23	72.92	279.15	-35.54	-75.35
Levered Free Cash Flow, 2 Yr. CAGR %	12.35	-76.06	8.09	198.71	73.53
Unlevered Free Cash Flow, 2 Yr. CAGR %	36.15	-94.52	-2.16	1.3K	103.22
Dividend Per Share, 2 Yr. CAGR %	0	23.44	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-5.01	-0.59	4.73	8.86	3.22
Gross Profit, 3 Yr. CAGR %	-5.01	-0.59	4.73	8.86	3.22
EBITDA, 3 Yr. CAGR %	-2.85	-2.11	-8.18	1.36	-1.13
EBITA, 3 Yr. CAGR %	-2.08	-1.36	-7.59	1.19	-1.51
EBIT, 3 Yr. CAGR %	-2.08	-1.36	-7.59	1.19	-1.51
Earnings From Cont. Operations, 3 Yr. CAGR %	0.4	2.39	-45.75	-30.33	-31.06
Net Income, 3 Yr. CAGR %	0.4	2.39	-45.75	-30.33	-31.06
Normalized Net Income, 3 Yr. CAGR %	7.63	5.3	-42.73	-31.37	-29.73
Diluted EPS Before Extra, 3 Yr. CAGR %	0.4	2.41	-45.76	-30.3	-31.06
Accounts Receivable, 3 Yr. CAGR %	-6.04	-4.88	2.64	-1.36	-3.06
Net Property, Plant and Equip., 3 Yr. CAGR %	-14.93	-13.76	39.72	112.87	79.52
Total Assets, 3 Yr. CAGR %	-2.61	-2.3	4.78	1.34	5.01
Tangible Book Value, 3 Yr. CAGR %	0.41	-0.07	0.93	-0.67	0.33
Common Equity, 3 Yr. CAGR %	0.29	-0.17	0.71	-0.86	0.31
Cash From Operations, 3 Yr. CAGR %	-64.3	43.77	-46.25	95.6	73.87
Capital Expenditures, 3 Yr. CAGR %	-33.51	-19.65	212.76	-16.43	-14.66
Levered Free Cash Flow, 3 Yr. CAGR %	-39.23	-29.13	-38.07	36.01	131.93
Unlevered Free Cash Flow, 3 Yr. CAGR %	-46.1	-66.26	-48.2	59.84	475.67
Dividend Per Share, 3 Yr. CAGR %	-5.9	8.58	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.85	0.5	0.88	2.05	3.48
Gross Profit, 5 Yr. CAGR %	0.85	0.5	0.88	2.05	3.48
EBITDA, 5 Yr. CAGR %	-1.35	-2.18	-7.63	-0.33	0.27
EBITA, 5 Yr. CAGR %	-0.77	-1.35	-7.19	-0.1	0.54
EBIT, 5 Yr. CAGR %	-0.77	-1.35	-7.19	-0.1	0.54
Earnings From Cont. Operations, 5 Yr. CAGR %	-0.5	-3.21	-32.57	-16.87	-19.07
Net Income, 5 Yr. CAGR %	-0.5	-3.21	-32.57	-16.87	-19.07
Normalized Net Income, 5 Yr. CAGR %	0.06	0.55	-28.84	-15.56	-17.1
Diluted EPS Before Extra, 5 Yr. CAGR %	-0.5	-3.2	-32.57	-16.87	-19.07
Accounts Receivable, 5 Yr. CAGR %	-2.12	-4.86	-2.98	-5.32	0.63
Net Property, Plant and Equip., 5 Yr. CAGR %	-21.21	-11.42	35.18	37.95	21.65
Total Assets, 5 Yr. CAGR %	0.59	-3.02	0.01	-1.21	4.87
Tangible Book Value, 5 Yr. CAGR %	-0.44	-0.71	0.39	-0.31	0.48
Common Equity, 5 Yr. CAGR %	-0.32	-0.73	0.24	-0.43	0.35
Cash From Operations, 5 Yr. CAGR %	-43.59	-35.17	-32.81	52.46	-6.05
Capital Expenditures, 5 Yr. CAGR %	-38.8	-25.56	33.4	-26.43	13.2
Levered Free Cash Flow, 5 Yr. CAGR %	-23.36	-45.75	-23.49	26	-6.48
Unlevered Free Cash Flow, 5 Yr. CAGR %	-28.51	-69.19	-31.58	49.9	-10.51
Dividend Per Share, 5 Yr. CAGR %	-13.95	-1.49	-	-	-