Income Statement Asia Network International

Stocks

ANI

THB627010002

Air Freight & Logistics

End-of-day quote Thailand S.E. 2026-10-02			5-day change	1st Jan Change
3.300 ^THB	-0.60%		-3.51%	+11.49%

08-13	Asia Network International Public Company Limited Borrows SGD 10.00 Million (Approximately THB 260 Million) Long-Term Loan from Major Shareholder Mr. Thomas Tay Nguen Cheong	CI
08-11	Asia Network International Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI

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Published financial data: ASIA NETWORK INTERNATIONAL

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Revenues	2.27B	5.35B	5.9B	8.43B	7.41B
Other Revenues, Total	-	33.31M	-	-	-
Total Revenues	2.27B	5.38B	5.9B	8.43B	7.41B
Cost of Goods Sold, Total	1.95B	4.64B	4.32B	6.86B	6.08B
Gross Profit	321M	738M	1.58B	1.56B	1.33B
Selling General & Admin Expenses, Total	96.75M	317M	531M	571M	549M
Provision for Bad Debts	-	-43.33K	-543K	17.48M	-1.32M
Other Operating Expenses	-297K	-	-	-	-
Other Operating Expenses, Total	96.46M	317M	530M	588M	547M
Operating Income	224M	421M	1.05B	974M	787M
Interest Expense, Total	-614K	-810K	-57.05M	-55.1M	-51.25M
Interest And Investment Income	-	5.78M	14.24M	10.18M	9.3M
Net Interest Expenses	-614K	4.97M	-42.81M	-44.92M	-41.95M
Income (Loss) On Equity Invest.	767K	111M	4.91M	10.67M	4.26M
Currency Exchange Gains (Loss)	-	-	-	-	-19.61M
Other Non Operating Income (Expenses)	-1.21K	-9.1M	38.59M	-4.37M	19.06M
EBT, Excl. Unusual Items	225M	528M	1.05B	935M	749M
Other Unusual Items	-	643M	-	-	-
EBT, Incl. Unusual Items	225M	1.17B	1.05B	935M	749M
Income Tax Expense	64.97M	78.01M	220M	200M	145M
Earnings From Continuing Operations	160M	1.09B	834M	736M	604M
Net Income to Company	160M	1.09B	834M	736M	604M
Minority Interest	-33.53M	-16.07M	-30.74M	-71.23M	-30.54M
Net Income - (IS)	126M	1.08B	803M	664M	573M
Net Income to Common Incl Extra Items	126M	1.08B	803M	664M	573M
Net Income to Common Excl. Extra Items	126M	1.08B	803M	664M	573M
Per Share Items
Net EPS - Basic	0.66	1.08	0.61	0.36	0.31
Basic EPS - Continuing Operations	0.66	1.08	0.61	0.36	0.31
Basic Weighted Average Shares Outstanding	191M	1B	1.32B	1.85B	1.85B
Net EPS - Diluted	0.66	1.08	0.61	0.36	0.31
Diluted EPS - Continuing Operations	0.66	1.08	0.61	0.36	0.31
Diluted Weighted Average Shares Outstanding	191M	1B	1.32B	1.85B	1.85B
Normalized Basic EPS	0.56	0.31	0.48	0.28	0.24
Normalized Diluted EPS	0.56	0.31	0.48	0.28	0.24
Dividend Per Share	-	0.24	0.05	0.2	0.2
Payout Ratio	-	-	104.33	69.53	48.36
Supplemental Items
EBITDA	225M	472M	1.16B	1.09B	898M
EBITA	224M	421M	1.16B	1.08B	896M
EBIT	224M	421M	1.05B	974M	787M
EBITDAR	225M	474M	1.17B	1.09B	899M
Total Revenues (As Reported)	-	6.03B	5.93B	8.45B	7.44B
Effective Tax Rate - (Ratio)	28.93	6.66	20.85	21.34	19.35
Total Current Taxes	64.95M	89.21M	237M	224M	186M
Total Deferred Taxes	18.45K	-11.2M	-17.87M	-24.07M	-41.22M
Normalized Net Income	107M	314M	628M	513M	437M
Interest on Long-Term Debt	293K	741K	1.37M	1.47M	1.43M
Non-Cash Pension Expense	87.4K	70.08K	87.07K	99.66K	154K
Supplemental Operating Expense Items
Selling and Marketing Expenses	4.1M	6.26M	19.98M	-	-
General and Administrative Expenses	92.65M	311M	511M	571M	549M
Net Rental Expense, Total	826K	1.8M	4.42M	4.89M	793K
Imputed Operating Lease Interest Expense	377K	347K	3.51M	1.96M	338K
Imputed Operating Lease Depreciation	450K	1.45M	911K	2.93M	456K
Maintenance & Repair Expenses, Total	399K	2.09M	2.57M	2.83M	659K

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Assets
Cash And Equivalents	606M	1.33B	1.37B	1.18B	1.09B
Short Term Investments	-	191M	58.66M	50.93M	-
Total Cash And Short Term Investments	606M	1.52B	1.42B	1.23B	1.09B
Accounts Receivable, Total	600M	475M	549M	612M	464M
Other Receivables	15.75M	26.6M	36.75M	3.55M	19.73M
Notes Receivable	502K	-	-	-	22.18M
Total Receivables	616M	502M	586M	615M	506M
Prepaid Expenses	33.58M	13.76M	18.7M	16.83M	15.95M
Other Current Assets, Total	3.04M	3.15M	3.77M	66.83M	54.08M
Total Current Assets	1.26B	2.04B	2.03B	1.93B	1.66B
Net Property Plant And Equipment	11.46M	27.33M	19.45M	34.94M	26.64M
Long-term Investments	3.27M	32.04M	36.9M	48.3M	45.76M
Goodwill	1.15B	7.92B	7.64B	7.64B	7.64B
Other Intangibles, Total	267K	162M	405M	295M	185M
Deferred Tax Assets Long-Term	664K	3.54M	454K	3.77M	24.84M
Other Long-Term Assets, Total	28.98M	81.46M	142M	106M	99.32M
Total Assets	2.46B	10.26B	10.28B	10.06B	9.69B
Liabilities
Accounts Payable, Total	361M	264M	370M	499M	332M
Accrued Expenses, Total	308M	292M	114M	252M	198M
Short-term Borrowings	6.75M	25M	140M	100M	100M
Current Portion of Long-Term Debt	-	-	220M	270M	320M
Current Portion of Leases	5.82M	12.28M	10.82M	12.95M	14.74M
Current Income Taxes Payable	39.98M	147M	227M	162M	102M
Other Current Liabilities	271M	5.55B	718M	101M	81.04M
Total Current Liabilities	993M	6.29B	1.8B	1.4B	1.15B
Long-Term Debt	-	-	725M	705M	385M
Long-Term Leases	6.12M	11.26M	5.42M	14.81M	4.54M
Pension & Other Post Retirement Benefits	3.27M	4.13M	4.57M	6.41M	7.2M
Deferred Tax Liability Non Current	-	29.69M	74.61M	53.66M	33.53M
Other Non Current Liabilities	300K	347K	300K	300K	300K
Total Liabilities	1B	6.33B	2.61B	2.18B	1.58B
Common Stock, Total	320M	506M	924M	924M	924M
Additional Paid In Capital	957M	1.51B	5.65B	5.65B	5.65B
Retained Earnings	127M	950M	1.16B	1.36B	1.66B
Comprehensive Income and Other	3.38M	899M	-127M	-152M	-197M
Total Common Equity	1.41B	3.87B	7.61B	7.78B	8.03B
Minority Interest	47M	61.88M	64.98M	102M	75.62M
Total Equity	1.45B	3.93B	7.67B	7.88B	8.11B
Total Liabilities And Equity	2.46B	10.26B	10.28B	10.06B	9.69B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	640M	1.01B	1.85B	1.85B	1.85B
ECS Total Common Shares Outstanding	640M	1.01B	1.85B	1.85B	1.85B
Book Value / Share	2.2	3.82	4.12	4.21	4.35
Tangible Book Value	253M	-4.21B	-443M	-157M	204M
Tangible Book Value Per Share	0.4	-4.16	-0.24	-0.08	0.11
Total Debt	18.69M	48.54M	1.1B	1.1B	824M
Net Debt	-587M	-1.47B	-323M	-127M	-261M
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.27M	4.13M	4.57M	6.41M	7.2M
Debt Equivalent Oper. Leases	6.61M	14.38M	35.33M	39.11M	6.35M
Minority Interest, Total (Incl. Fin. Div)	47M	61.88M	64.98M	102M	75.62M
Equity Method Investments, Total	3.27M	32.04M	36.9M	48.3M	45.76M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	154	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	49.41K	764K	221K	1.32M	-

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Net Income	126M	1.08B	803M	664M	573M
Depreciation & Amortization - CF	2.42M	58.38M	16.18M	17.97M	17.56M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	110M	110M	110M
Depreciation & Amortization, Total	2.42M	58.38M	126M	128M	127M
Amortization of Deferred Charges, Total - (CF)	-	101K	405K	467K	388K
(Gain) Loss From Sale Of Asset	-	-	-	17	3
(Gain) Loss on Sale of Investments - (CF)	-297K	-43.33K	-543K	17.48M	-1.32M
Asset Writedown & Restructuring Costs	-	101K	418K	-	-
(Income) Loss On Equity Investments - (CF)	-767K	-111M	-4.91M	-10.67M	-4.26M
Other Operating Activities, Total	28.67M	-610M	-19.71M	-42.86M	-43.03M
Change In Accounts Receivable	50.56M	406M	-59.16M	38.02M	114M
Change In Accounts Payable	-34.01M	-311M	-52.59M	293M	-186M
Change in Other Net Operating Assets	16.88M	-12.51M	23.42M	55.55M	81.34M
Cash from Operations	190M	497M	816M	1.14B	661M
Capital Expenditure	-130K	-3M	-1.97M	-4.97M	-1.14M
Sale of Property, Plant, and Equipment	-	2.4K	1.78M	-	-
Cash Acquisitions	509M	513M	-4.09B	-1.9M	-1.3M
Divestitures	-	-	-	-503K	-
Investment in Marketable and Equity Securities, Total	-	-324M	134M	-622M	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	0	-	-	-	-
Other Investing Activities, Total	6.93M	6.22M	14.24M	10.18M	-2.34M
Cash from Investing	516M	192M	-3.95B	-619M	-4.78M
Short Term Debt Issued, Total	3.9M	-	140M	100M	250M
Long-Term Debt Issued, Total	-	-	1B	250M	-
Total Debt Issued	3.9M	-	1.14B	350M	250M
Short Term Debt Repaid, Total	-	-6.75M	-25M	-140M	-250M
Long-Term Debt Repaid, Total	-2.15M	-6.98M	-69.56M	-235M	-285M
Total Debt Repaid	-2.15M	-13.73M	-94.56M	-375M	-535M
Issuance of Common Stock	938K	301M	3.71B	-	-
Common Dividends Paid	-	-	-838M	-462M	-277M
Common & Preferred Stock Dividends Paid	-	-	-838M	-462M	-277M
Other Financing Activities, Total	-116M	-253M	-640M	-87.62M	-119M
Cash from Financing	-113M	34.29M	3.28B	-575M	-681M
Foreign Exchange Rate Adjustments	13.24M	1.6M	-115M	-136M	-69.25M
Net Change in Cash	605M	725M	35.1M	-187M	-93.92M
Supplemental Items
Cash Interest Paid	593K	831K	57.25M	55.1M	51.25M
Cash Income Tax Paid (Refund)	67.99M	76.25M	244M	345M	275M
Levered Free Cash Flow	473M	5.72B	-4.16B	236M	459M
Unlevered Free Cash Flow	473M	5.72B	-4.13B	271M	491M
Change In Net Working Capital	-331M	-5.4B	4.91B	461M	127M
Net Debt Issued / Repaid	1.75M	-13.73M	1.05B	-25.19M	-285M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Profitability
Return on Assets	11.39	4.12	6.38	5.98	4.98
Return on Total Capital	18.99	9.62	10.31	6.85	5.49
Return On Equity %	21.93	40.49	14.35	9.46	7.55
Return on Common Equity	17.9	40.93	14	8.64	7.25
Margin Analysis
Gross Profit Margin %	14.15	13.71	26.81	18.54	18
SG&A Margin	4.27	5.89	8.99	6.78	7.4
EBITDA Margin %	9.9	8.77	19.7	12.88	12.12
EBITA Margin %	9.9	7.82	19.68	12.86	12.09
EBIT Margin %	9.9	7.82	17.83	11.56	10.62
Income From Continuing Operations Margin %	7.04	20.32	14.12	8.73	8.14
Net Income Margin %	5.56	20.02	13.6	7.88	7.73
Net Avail. For Common Margin %	5.56	20.02	13.6	7.88	7.73
Normalized Net Income Margin	4.71	5.84	10.63	6.09	5.9
Levered Free Cash Flow Margin	20.84	106.33	-70.51	2.8	6.19
Unlevered Free Cash Flow Margin	20.86	106.34	-69.91	3.21	6.63
Asset Turnover
Asset Turnover	1.84	0.84	0.57	0.83	0.75
Fixed Assets Turnover	395.07	277.36	252.41	309.83	240.78
Receivables Turnover (Average Receivables)	7.56	9.95	11.53	14.52	13.79
Short Term Liquidity
Current Ratio	1.27	0.32	1.13	1.38	1.45
Quick Ratio	1.23	0.32	1.12	1.32	1.37
Operating Cash Flow to Current Liabilities	0.19	0.08	0.45	0.82	0.58
Days Sales Outstanding (Average Receivables)	48.29	36.69	31.66	25.21	26.47
Average Days Payable Outstanding	34.01	24.55	26.74	40.28	24.93
Long Term Solvency
Total Debt/Equity	1.28	1.24	14.36	13.99	10.17
Total Debt / Total Capital	1.27	1.22	12.55	12.27	9.23
LT Debt/Equity	0.42	0.29	9.52	9.13	4.8
Long-Term Debt / Total Capital	0.42	0.28	8.33	8.01	4.36
Total Liabilities / Total Assets	40.81	61.7	25.39	21.63	16.29
EBIT / Interest Expense	365.87	519.35	18.45	17.67	15.35
EBITDA / Interest Expense	369.82	591.4	20.66	19.99	17.83
(EBITDA - Capex) / Interest Expense	369.6	587.7	20.62	19.9	17.81
Total Debt / EBITDA	0.08	0.1	0.93	1	0.9
Net Debt / EBITDA	-2.59	-3.07	-0.27	-0.12	-0.29
Total Debt / (EBITDA - Capex)	0.08	0.1	0.94	1.01	0.9
Net Debt / (EBITDA - Capex)	-2.59	-3.09	-0.27	-0.12	-0.29
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.92K	136.97	10.43	42.71	-12.03
Gross Profit, 1 Yr. Growth %	7.61K	128.1	124.78	-0.05	-14.6
EBITDA, 1 Yr. Growth %	-	107.93	165.22	-6.7	-17.25
EBITA, 1 Yr. Growth %	-13.43K	100.48	199.94	-6.77	-17.26
EBIT, 1 Yr. Growth %	-13.43K	100.48	171.66	-7.48	-19.19
Earnings From Cont. Operations, 1 Yr. Growth %	-8.51K	649.91	-23.73	-11.76	-17.92
Net Income, 1 Yr. Growth %	-6.75K	878.24	-25.45	-17.26	-13.72
Normalized Net Income, 1 Yr. Growth %	-9.11K	233.72	99.87	-18.21	-14.79
Diluted EPS Before Extra, 1 Yr. Growth %	-186.89	86.82	-43.43	-40.91	-13.72
Accounts Receivable, 1 Yr. Growth %	160K	-20.78	15.57	11.37	-24.17
Net Property, Plant and Equip., 1 Yr. Growth %	63.67K	138.42	-28.83	79.61	-23.77
Total Assets, 1 Yr. Growth %	35.04K	308.7	-0.61	-2.13	-3.72
Tangible Book Value, 1 Yr. Growth %	14.05K	-2.34K	-89.67	-64.65	-230.23
Common Equity, 1 Yr. Growth %	78.47K	177.16	96.62	2.32	3.22
Cash From Operations, 1 Yr. Growth %	-	162.23	64.15	40.12	-42.19
Capital Expenditures, 1 Yr. Growth %	-	2.21K	-34.26	151.78	-77.11
Levered Free Cash Flow, 1 Yr. Growth %	-	1.09K	-173.05	-105.61	147.74
Unlevered Free Cash Flow, 1 Yr. Growth %	-	1.09K	-172.41	-106.49	123.49
Dividend Per Share, 1 Yr. Growth %	-	-	-79.17	300	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	469.6	1.59K	61.26	25.54	12.05
Gross Profit, 2 Yr. CAGR %	495.82	1.23K	121.26	48.94	-7.61
EBITDA, 2 Yr. CAGR %	-	-	126.4	57.3	-12.13
EBITA, 2 Yr. CAGR %	1.1K	1.48K	135.31	67.22	-12.17
EBIT, 2 Yr. CAGR %	1.1K	1.48K	123.94	58.53	-13.54
Earnings From Cont. Operations, 2 Yr. CAGR %	1.19K	2.3K	139.15	-17.97	-14.9
Net Income, 2 Yr. CAGR %	1.04K	2.28K	170.05	-21.46	-15.51
Normalized Net Income, 2 Yr. CAGR %	1.02K	1.53K	158.27	27.86	-16.52
Diluted EPS Before Extra, 2 Yr. CAGR %	-	19.04	2.8	-42.18	-28.6
Accounts Receivable, 2 Yr. CAGR %	1.43K	3.46K	-4.31	13.45	-8.11
Net Property, Plant and Equip., 2 Yr. CAGR %	1.86K	3.8K	30.27	13.06	17.01
Total Assets, 2 Yr. CAGR %	1.2K	3.73K	102.34	-1.37	-2.93
Tangible Book Value, 2 Yr. CAGR %	728.93	4.75K	53.65	-80.89	-32.15
Common Equity, 2 Yr. CAGR %	1.85K	4.55K	133.44	41.84	2.77
Cash From Operations, 2 Yr. CAGR %	-	-	107.47	51.66	-10
Capital Expenditures, 2 Yr. CAGR %	-	-	289.66	28.65	-24.08
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	194.31	-79.64	-66.97
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	192.93	-78.21	-65.69
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-8.71	100
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	325.37	578.98	54.83	11.5
Gross Profit, 3 Yr. CAGR %	-	333.73	624.51	69.05	23.73
EBITDA, 3 Yr. CAGR %	-	-	-	68.47	26.99
EBITA, 3 Yr. CAGR %	-	544.51	783.7	72.83	32.26
EBIT, 3 Yr. CAGR %	-	544.51	755	66.79	26.64
Earnings From Cont. Operations, 3 Yr. CAGR %	-	943.24	660.25	71.52	-17.95
Net Income, 3 Yr. CAGR %	-	938.1	650.79	82.06	-18.96
Normalized Net Income, 3 Yr. CAGR %	-	618.95	708.88	76.04	11.68
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-7.1	-14.52	-33.93
Accounts Receivable, 3 Yr. CAGR %	-	470.02	1.04K	0.65	-0.81
Net Property, Plant and Equip., 3 Yr. CAGR %	-	872.01	926.68	44.99	-0.86
Total Assets, 3 Yr. CAGR %	-	790.14	1.04K	58.83	-2.16
Tangible Book Value, 3 Yr. CAGR %	-	945.04	527.85	-5.85	-63.77
Common Equity, 3 Yr. CAGR %	-	915.98	1.52K	77.33	27.58
Cash From Operations, 3 Yr. CAGR %	-	-	-	82.03	9.96
Capital Expenditures, 3 Yr. CAGR %	-	-	-	236.87	-27.64
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-21.08	-56.81
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-17.44	-55.83
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	-5.9
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	160.75	230.27
Gross Profit, 5 Yr. CAGR %	-	-	-	180.23	217.08
EBITA, 5 Yr. CAGR %	-	-	-	269.57	250.94
EBIT, 5 Yr. CAGR %	-	-	-	261.76	241.91
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	277.25	216.63
Net Income, 5 Yr. CAGR %	-	-	-	269.64	213.36
Normalized Net Income, 5 Yr. CAGR %	-	-	-	260.34	226.11
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	-16.38
Accounts Receivable, 5 Yr. CAGR %	-	-	-	198.85	315.27
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	311.09	330.67
Total Assets, 5 Yr. CAGR %	-	-	-	269.79	324.93
Tangible Book Value, 5 Yr. CAGR %	-	-	-	111.66	157.83
Common Equity, 5 Yr. CAGR %	-	-	-	362.22	437.47