Income Statement Matichon Thailand S.E.

Stocks

MATI-R

TH0170010R19

Consumer Publishing

End-of-day quote Thailand S.E. 2026-09-02			5-day change	1st Jan Change
2.900 ^THB	-0.68%		-5.84%	-8.23%

08-16	Matichon Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
06-26	Matichon Public Company Limited Announces Board Changes, Effective July 1, 2026	CI

20aad386d483e0d6db35a6a15.WHpyn1xbd0XAU288WT-VtVW0hZCussQ3fBFEewc_f3M.bC8-7gYtWhWFBgdRE13MxDri6dna-bRoEnsRP0FIPgEHLALsNykydZAnOg

Published financial data: MATICHON

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Revenues	674M	682M	702M	590M	464M
Total Revenues	674M	682M	702M	590M	464M
Cost of Goods Sold, Total	406M	422M	466M	445M	402M
Gross Profit	267M	260M	236M	146M	62.11M
Selling General & Admin Expenses, Total	206M	217M	233M	212M	194M
Other Operating Expenses	-14.43M	-25.73M	-31.6M	-34.41M	-33.57M
Other Operating Expenses, Total	192M	191M	201M	178M	161M
Operating Income	75.38M	69.54M	34.23M	-32.22M	-98.45M
Interest Expense, Total	-493K	-338K	-501K	-508K	-367K
Interest And Investment Income	1.54M	2.1M	2.17M	2.24M	3.61M
Net Interest Expenses	1.05M	1.76M	1.66M	1.73M	3.24M
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	76.43M	71.3M	35.89M	-30.5M	-95.21M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	171M	15.54M	6.19M	680K	610K
EBT, Incl. Unusual Items	247M	86.83M	42.08M	-29.81M	-94.6M
Income Tax Expense	28.49M	17.08M	11.52M	3.6M	15.2M
Earnings From Continuing Operations	219M	69.75M	30.56M	-33.42M	-110M
Net Income to Company	219M	69.75M	30.56M	-33.42M	-110M
Net Income - (IS)	219M	69.75M	30.56M	-33.42M	-110M
Net Income to Common Incl Extra Items	219M	69.75M	30.56M	-33.42M	-110M
Net Income to Common Excl. Extra Items	219M	69.75M	30.56M	-33.42M	-110M
Per Share Items
Net EPS - Basic	1.18	0.38	0.16	-0.18	-0.59
Basic EPS - Continuing Operations	1.18	0.38	0.16	-0.18	-0.59
Basic Weighted Average Shares Outstanding	185M	185M	185M	185M	185M
Net EPS - Diluted	1.18	0.38	0.16	-0.18	-0.59
Diluted EPS - Continuing Operations	1.18	0.38	0.16	-0.18	-0.59
Diluted Weighted Average Shares Outstanding	185M	185M	185M	185M	185M
Normalized Basic EPS	0.26	0.24	0.12	-0.1	-0.32
Normalized Diluted EPS	0.26	0.24	0.12	-0.1	-0.32
Dividend Per Share	0.45	0.25	0.25	0.1	-
Payout Ratio	16.9	119.41	151.49	-138.46	-16.83
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	97.98M	91.33M	51.12M	-14.97M	-80.51M
EBITA	75.6M	69.95M	34.89M	-31.56M	-97.69M
EBIT	75.38M	69.54M	34.23M	-32.22M	-98.45M
EBITDAR	114M	108M	70.57M	829K	-65.84M
Effective Tax Rate - (Ratio)	11.51	19.68	27.37	-12.08	-16.07
Total Current Taxes	25.98M	15.32M	5.41M	-	-
Total Deferred Taxes	2.51M	1.76M	6.1M	3.6M	15.2M
Normalized Net Income	47.77M	44.56M	22.43M	-19.06M	-59.51M
Interest on Long-Term Debt	492K	338K	501K	508K	367K
Non-Cash Pension Expense	21.91M	20.5M	19.85M	18.82M	17.62M
Supplemental Operating Expense Items
Advertising Expense	7.5M	7.13M	4.36M	4.21M	2.89M
Selling and Marketing Expenses	36.6M	37.29M	34.9M	31.11M	26.67M
General and Administrative Expenses	170M	179M	198M	181M	167M
Net Rental Expense, Total	15.82M	16.46M	19.45M	15.8M	14.67M
Imputed Operating Lease Interest Expense	3.65M	3.23M	5.28M	3.35M	3.02M
Imputed Operating Lease Depreciation	12.17M	13.23M	14.18M	12.44M	11.65M
Maintenance & Repair Expenses, Total	13.4M	13.3M	13.9M	14.34M	13.55M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Assets
Cash And Equivalents	103M	66.53M	86.76M	54.08M	80.53M
Short Term Investments	912M	750M	614M	709M	555M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	1.01B	817M	701M	764M	635M
Accounts Receivable, Total	125M	116M	134M	116M	82.07M
Other Receivables	6.3M	7.71M	7.56M	18.4M	13.57M
Total Receivables	132M	124M	141M	134M	95.64M
Inventory	39.26M	41.08M	34.84M	30.99M	39.47M
Prepaid Expenses	2.76M	2.07M	3.97M	3.22M	3.6M
Other Current Assets, Total	30.37M	24.82M	30.34M	972K	198K
Total Current Assets	1.22B	1.01B	911M	933M	774M
Gross Property Plant And Equipment	1.57B	1.06B	1.07B	1.05B	1.05B
Accumulated Depreciation	-1.22B	-745M	-754M	-740M	-748M
Net Property Plant And Equipment	349M	311M	317M	314M	303M
Long-term Investments	295M	477M	537M	376M	65.72M
Other Intangibles, Total	1.25M	3.27M	2.83M	3.18M	4.07M
Deferred Tax Assets Long-Term	77.46M	66.29M	62.09M	58.61M	28.56M
Other Long-Term Assets, Total	27.59M	57.29M	62.33M	98.17M	384M
Total Assets	1.97B	1.92B	1.89B	1.78B	1.56B
Liabilities
Accounts Payable, Total	4.55M	7.17M	6.27M	5.08M	5.84M
Accrued Expenses, Total	22.83M	25.15M	26.27M	63.47M	46.61M
Short-term Borrowings	6.75M	2.29M	986K	1.08M	930K
Current Portion of Leases	6.43M	2.51M	4.21M	5.52M	4.82M
Current Income Taxes Payable	6.91M	3.16M	-	-	-
Other Current Liabilities	21.69M	20.5M	24.92M	8.6M	13.4M
Total Current Liabilities	69.16M	60.77M	62.65M	83.75M	71.61M
Long-Term Leases	5.94M	3.62M	15.96M	10.5M	5.66M
Pension & Other Post Retirement Benefits	343M	284M	268M	223M	91.73M
Other Non Current Liabilities	1.96M	2.06M	1.25M	1.13M	1.09M
Total Liabilities	420M	350M	348M	318M	170M
Common Stock, Total	185M	185M	185M	185M	185M
Additional Paid In Capital	585M	585M	585M	585M	585M
Retained Earnings	778M	826M	806M	726M	592M
Comprehensive Income and Other	-141K	-24.03M	-31.66M	-32.13M	27.26M
Total Common Equity	1.55B	1.57B	1.54B	1.46B	1.39B
Total Equity	1.55B	1.57B	1.54B	1.46B	1.39B
Total Liabilities And Equity	1.97B	1.92B	1.89B	1.78B	1.56B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	185M	185M	185M	185M	185M
ECS Total Common Shares Outstanding	185M	185M	185M	185M	185M
Book Value / Share	8.35	8.48	8.33	7.9	7.5
Tangible Book Value	1.55B	1.57B	1.54B	1.46B	1.39B
Tangible Book Value Per Share	8.35	8.47	8.32	7.88	7.48
Total Debt	19.12M	8.42M	21.16M	17.1M	11.41M
Net Debt	-1.09B	-893M	-756M	-823M	-690M
Debt Equivalent of Unfunded Proj. Benefit Obligation	343M	284M	268M	251M	101M
Debt Equivalent Oper. Leases	127M	132M	156M	126M	117M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	52.3M	53.77M	44.22M	39.44M	44.86M
Inventories - Others	4.95M	747K	686K	696K	688K
Land - (BS)	277M	259M	252M	252M	252M
Buildings, Total	400M	401M	406M	415M	421M
Machinery, Total	871M	373M	370M	353M	350M
Accumulated Allowance for Doubtful Accounts (Supple)	13.32M	13.15M	1.82M	1.25M	1.04M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Net Income	219M	69.75M	30.56M	-33.42M	-110M
Depreciation & Amortization - CF	28.45M	27.38M	21.61M	22.13M	22.64M
Amortization of Goodwill and Intangible Assets - (CF)	220K	411K	664K	666K	763K
Depreciation & Amortization, Total	28.67M	27.79M	22.27M	22.79M	23.4M
Amortization of Deferred Charges, Total - (CF)	470K	326K	200K	392K	374K
(Gain) Loss From Sale Of Asset	-171M	-15.54M	-6.19M	-680K	-774K
(Gain) Loss on Sale of Investments - (CF)	-	-	6M	-	-
Asset Writedown & Restructuring Costs	-	-	1.61M	7	30.24K
Provision and Write-off of Bad Debts	-472K	-102K	850K	-435K	1.51M
Other Operating Activities, Total	25.75M	3.81M	-8.34M	4.17M	13.22M
Change In Accounts Receivable	2.45M	13.68M	-18.08M	10.66M	30.34M
Change In Inventories	-4.24M	-1.05M	4.06M	4.07M	-4.32M
Change In Accounts Payable	1.93M	264K	1.29M	-	7.71M
Change in Other Net Operating Assets	-24.42M	-24.57M	-36.88M	-36.15M	-87.69M
Cash from Operations	78.09M	74.36M	-2.64M	-28.59M	-126M
Capital Expenditure	-3.27M	-10.45M	-12.79M	-17.84M	-12.19M
Sale of Property, Plant, and Equipment	376M	36.2M	13.19M	681K	774K
Sale (Purchase) of Intangible assets	-253K	-2.75M	-2.03M	-1.41M	-2.03M
Investment in Marketable and Equity Securities, Total	-377M	-59.66M	55.24M	40.46M	164M
Other Investing Activities, Total	6.12M	16.07M	21.35M	26.23M	26.06M
Cash from Investing	1.63M	-20.59M	74.95M	48.12M	177M
Short Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-6.43M	-6.58M	-5.79M	-5.94M	-5.91M
Total Debt Repaid	-6.43M	-6.58M	-5.79M	-5.94M	-5.91M
Common Dividends Paid	-37M	-83.29M	-46.29M	-46.27M	-18.48M
Common & Preferred Stock Dividends Paid	-37M	-83.29M	-46.29M	-46.27M	-18.48M
Other Financing Activities, Total	-103	-	0	-	-
Cash from Financing	-43.43M	-89.87M	-52.08M	-52.21M	-24.38M
Net Change in Cash	36.29M	-36.1M	20.23M	-32.68M	26.45M
Supplemental Items
Cash Interest Paid	103	-	0	-	1
Cash Income Tax Paid (Refund)	10.05M	12.39M	13.82M	-8.66M	-5.88M
Levered Free Cash Flow	80.02M	70.68M	6.48M	3.16M	-32.89M
Unlevered Free Cash Flow	80.33M	70.89M	6.8M	3.48M	-32.66M
Change In Net Working Capital	-7.61M	-12.52M	22.24M	-19.68M	-19.31M
Net Debt Issued / Repaid	-6.43M	-6.58M	-5.79M	-5.94M	-5.91M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Profitability
Return on Assets	2.52	2.23	1.12	-1.1	-3.68
Return on Total Capital	3.2	2.76	1.36	-1.32	-4.27
Return On Equity %	15.06	4.47	1.96	-2.22	-7.7
Return on Common Equity	15.06	4.47	1.96	-2.22	-7.7
Margin Analysis
Gross Profit Margin %	39.69	38.17	33.57	24.66	13.38
SG&A Margin	30.64	31.75	33.2	35.95	41.82
EBITDA Margin %	14.54	13.38	7.28	-2.54	-17.34
EBITA Margin %	11.22	10.25	4.97	-5.34	-21.04
EBIT Margin %	11.19	10.19	4.88	-5.46	-21.21
Income From Continuing Operations Margin %	32.5	10.22	4.35	-5.66	-23.65
Net Income Margin %	32.5	10.22	4.35	-5.66	-23.65
Net Avail. For Common Margin %	32.5	10.22	4.35	-5.66	-23.65
Normalized Net Income Margin	7.09	6.53	3.2	-3.23	-12.82
Levered Free Cash Flow Margin	11.88	10.36	0.92	0.54	-7.08
Unlevered Free Cash Flow Margin	11.92	10.39	0.97	0.59	-7.04
Asset Turnover
Asset Turnover	0.36	0.35	0.37	0.32	0.28
Fixed Assets Turnover	1.47	2.07	2.24	1.87	1.5
Receivables Turnover (Average Receivables)	5.4	5.65	5.62	4.73	4.69
Inventory Turnover (Average Inventory)	11.52	10.5	13.1	13.51	11.41
Short Term Liquidity
Current Ratio	17.62	16.59	14.55	11.14	10.81
Quick Ratio	16.58	15.47	13.44	10.72	10.21
Operating Cash Flow to Current Liabilities	1.13	1.22	-0.04	-0.34	-1.76
Days Sales Outstanding (Average Receivables)	67.61	64.55	64.95	77.44	77.84
Days Outstanding Inventory (Average Inventory)	31.68	34.75	27.87	27.08	31.98
Average Days Payable Outstanding	5.63	5.05	5.27	4.71	4.85
Cash Conversion Cycle (Average Days)	93.66	94.25	87.54	99.81	104.96
Long Term Solvency
Total Debt/Equity	1.23	0.54	1.37	1.17	0.82
Total Debt / Total Capital	1.22	0.53	1.35	1.15	0.81
LT Debt/Equity	0.38	0.23	1.03	0.72	0.41
Long-Term Debt / Total Capital	0.38	0.23	1.02	0.71	0.4
Total Liabilities / Total Assets	21.34	18.21	18.41	17.87	10.91
EBIT / Interest Expense	153.04	205.8	68.25	-63.49	-268.21
EBITDA / Interest Expense	211.24	288.03	112.66	-18.58	-204.45
(EBITDA - Capex) / Interest Expense	204.59	257.11	87.16	-53.74	-237.66
Total Debt / EBITDA	0.18	0.09	0.37	-1.81	-0.15
Net Debt / EBITDA	-10.47	-9.18	-13.38	87.25	9.19
Total Debt / (EBITDA - Capex)	0.19	0.1	0.48	-0.63	-0.13
Net Debt / (EBITDA - Capex)	-10.81	-10.28	-17.3	30.17	7.9
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.43	1.31	2.72	-15.9	-21.38
Gross Profit, 1 Yr. Growth %	11.55	-1.82	-9.47	-35.4	-51.86
EBITDA, 1 Yr. Growth %	74.23	-6.79	-43.87	-129.28	437.91
EBITA, 1 Yr. Growth %	132.02	-7.48	-49.94	-190.45	209.56
EBIT, 1 Yr. Growth %	133.74	-7.75	-50.6	-194.15	205.52
Earnings From Cont. Operations, 1 Yr. Growth %	719.57	-68.14	-56.03	-209.36	228.58
Net Income, 1 Yr. Growth %	719.57	-68.14	-56.03	-209.36	228.58
Normalized Net Income, 1 Yr. Growth %	127.3	-6.72	-49.48	-184.97	212.21
Diluted EPS Before Extra, 1 Yr. Growth %	719.57	-68.14	-56.03	-209.36	228.58
Accounts Receivable, 1 Yr. Growth %	1.08	-7.59	15.5	-13.44	-29.2
Inventory, 1 Yr. Growth %	25.6	4.64	-4.21	-11.05	27.39
Net Property, Plant and Equip., 1 Yr. Growth %	-38.78	-10.96	2	-0.94	-3.34
Total Assets, 1 Yr. Growth %	10.87	-2.34	-1.31	-5.82	-12.5
Tangible Book Value, 1 Yr. Growth %	13.89	1.42	-1.47	-5.23	-5.16
Common Equity, 1 Yr. Growth %	13.84	1.55	-1.49	-5.2	-5.08
Cash From Operations, 1 Yr. Growth %	-7.26	-4.77	-103.56	981.34	340.6
Capital Expenditures, 1 Yr. Growth %	68.92	219.29	22.38	39.54	-31.68
Levered Free Cash Flow, 1 Yr. Growth %	-2.53	-11.68	-91.38	-93.36	-1.14K
Unlevered Free Cash Flow, 1 Yr. Growth %	-2.54	-11.75	-90.99	-92.75	-1.04K
Dividend Per Share, 1 Yr. Growth %	125	-44.44	0	-60	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-7.87	1.37	2.09	-7.06	-18.68
Gross Profit, 2 Yr. CAGR %	3.2	4.25	-5.74	-25.21	-47.51
EBITDA, 2 Yr. CAGR %	98.82	27.44	-27.77	-59.46	25.49
EBITA, 2 Yr. CAGR %	26.13	46.52	-32.07	-32.71	67.33
EBIT, 2 Yr. CAGR %	23.89	46.84	-32.62	-31.8	69.6
Earnings From Cont. Operations, 2 Yr. CAGR %	139.6	61.58	-62.64	-30.66	89.56
Net Income, 2 Yr. CAGR %	139.6	61.58	-62.64	-30.66	89.56
Normalized Net Income, 2 Yr. CAGR %	27.2	45.61	-31.48	-34.48	62.88
Diluted EPS Before Extra, 2 Yr. CAGR %	139.6	61.58	-62.64	-30.66	89.56
Accounts Receivable, 2 Yr. CAGR %	-12.04	-3.35	3.31	-0.01	-21.72
Inventory, 2 Yr. CAGR %	2.5	14.64	-5.8	-7.7	6.45
Net Property, Plant and Equip., 2 Yr. CAGR %	-22.47	-26.17	-4.7	0.52	-2.14
Total Assets, 2 Yr. CAGR %	5.22	4.06	-1.95	-3.59	-9.22
Tangible Book Value, 2 Yr. CAGR %	6.82	7.48	-0.18	-3.37	-5.19
Common Equity, 2 Yr. CAGR %	6.77	7.52	-0.13	-3.36	-5.14
Cash From Operations, 2 Yr. CAGR %	43.21	-6.03	-81.6	-37.99	590.25
Capital Expenditures, 2 Yr. CAGR %	-45.38	132.24	97.67	30.67	-2.36
Levered Free Cash Flow, 2 Yr. CAGR %	280.56	-7.22	-71.54	-79.51	-16.9
Unlevered Free Cash Flow, 2 Yr. CAGR %	281.29	-7.26	-70.92	-78.53	-17.46
Dividend Per Share, 2 Yr. CAGR %	112.13	11.8	-25.46	-36.75	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-7.35	-4.91	1.87	-4.3	-12.1
Gross Profit, 3 Yr. CAGR %	3.29	1.24	-0.56	-18.12	-37.98
EBITDA, 3 Yr. CAGR %	267.07	54.46	-3.13	-46.54	-4.03
EBITA, 3 Yr. CAGR %	36.55	13.75	2.3	-25.27	11.91
EBIT, 3 Yr. CAGR %	35.49	12.29	2	-24.67	12.43
Earnings From Cont. Operations, 3 Yr. CAGR %	125.87	22.29	4.58	-46.56	16.47
Net Income, 3 Yr. CAGR %	125.87	22.29	4.58	-46.56	16.47
Normalized Net Income, 3 Yr. CAGR %	196.9	14.7	2.19	-26.38	10.25
Diluted EPS Before Extra, 3 Yr. CAGR %	125.87	22.29	4.58	-46.56	16.47
Accounts Receivable, 3 Yr. CAGR %	-11.39	-10.58	2.57	-2.6	-10.88
Inventory, 3 Yr. CAGR %	-12	3.21	3.68	-7.59	2.77
Net Property, Plant and Equip., 3 Yr. CAGR %	-16.17	-18.81	-17.77	-3.46	-0.78
Total Assets, 3 Yr. CAGR %	3.24	2.64	2.15	-3.26	-6.66
Tangible Book Value, 3 Yr. CAGR %	1.93	4.99	4.3	-1.89	-3.97
Common Equity, 3 Yr. CAGR %	1.86	5	4.32	-1.85	-3.94
Cash From Operations, 3 Yr. CAGR %	77.05	25	-68.45	-28.46	19.21
Capital Expenditures, 3 Yr. CAGR %	-25.02	-1.61	87.58	76	5.27
Levered Free Cash Flow, 3 Yr. CAGR %	91.69	133.87	-57.1	-65.95	-24.11
Unlevered Free Cash Flow, 3 Yr. CAGR %	92.1	134.1	-56.48	-64.89	-24.35
Dividend Per Share, 3 Yr. CAGR %	65.1	35.72	7.72	-39.43	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-6.28	-5.88	-3.68	-5.75	-6.91
Gross Profit, 5 Yr. CAGR %	1.72	-2.12	-0.58	-10.32	-23.67
EBITDA, 5 Yr. CAGR %	11.77	36.78	91.58	-9.59	7.44
EBITA, 5 Yr. CAGR %	-5.13	35.17	3.28	-7.86	24.56
EBIT, 5 Yr. CAGR %	-5.41	34.08	2.46	-8.08	25.01
Earnings From Cont. Operations, 5 Yr. CAGR %	28.02	-4.92	9.97	-2.61	32.67
Net Income, 5 Yr. CAGR %	28.02	-4.92	9.97	-2.61	32.67
Normalized Net Income, 5 Yr. CAGR %	9.7	40.15	65.16	-8.38	23.14
Diluted EPS Before Extra, 5 Yr. CAGR %	28.02	-4.92	9.97	-2.61	32.67
Accounts Receivable, 5 Yr. CAGR %	-3.88	-7.25	-5.78	-6.49	-7.94
Inventory, 5 Yr. CAGR %	-14.35	-4.08	-9.57	-3.68	4.78
Net Property, Plant and Equip., 5 Yr. CAGR %	-12.01	-12.7	-11.76	-11.57	-11.85
Total Assets, 5 Yr. CAGR %	2.69	1.5	1.13	0.05	-2.56
Tangible Book Value, 5 Yr. CAGR %	2.21	1.36	1.08	1.5	0.4
Common Equity, 5 Yr. CAGR %	2.11	1.3	1.06	1.51	0.43
Cash From Operations, 5 Yr. CAGR %	0.85	28.23	-28.42	-5.56	8.39
Capital Expenditures, 5 Yr. CAGR %	9.41	-0.08	10.49	10.21	44.47
Levered Free Cash Flow, 5 Yr. CAGR %	9.61	26.04	-10.62	-10.57	-16.72
Unlevered Free Cash Flow, 5 Yr. CAGR %	9.72	26.07	-9.72	-8.85	-16.9
Dividend Per Share, 5 Yr. CAGR %	-	10.76	20.11	0	-