Delta Electronics Thailand Public : Financial Statement Quarter 1 / 2022

Delta Electronics (Thailand) Public Company Limited and its subsidiaries

Review report and interim financial information For the three-month period ended 31 March 2022

Independent Auditor's Report on Review of Interim Financial Information To the Shareholders of Delta Electronics (Thailand) Public Company Limited

I have reviewed the accompanying consolidated statement of financial position of Delta Electronics (Thailand) Public Company Limited and its subsidiaries as at 31 March 2022, the related consolidated statements of comprehensive income, changes in shareholders' equity, and cash flows for the three-month period then ended, as well as the condensed notes to the interim consolidated financial statements. I have also reviewed the separate financial information of Delta Electronics (Thailand) Public Company Limited for the same period (collectively "interim financial information"). Management is responsible for the preparation and presentation of this interim financial information in accordance with Thai Accounting Standard 34 Interim Financial Reporting. My responsibility is to express a conclusion on this interim financial information based on my review.

Scope of review

I conducted my review in accordance with Thai Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Thai Standards on Auditing and consequently does not enable me to obtain assurance that I would become aware of all significant matters that might be identified in an audit. Accordingly, I do not express an audit opinion.

Conclusion

Based on my review, nothing has come to my attention that causes me to believe that the accompanying interim financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34 Interim Financial Reporting.

Preecha Arunnara

Certified Public Accountant (Thailand) No. 5800

EY Office Limited

Bangkok: 26 April 2022

Statement of financial position

As at 31 March 2022

(Unit: Thousand Baht)

Consolidated financial statements

Separate financial statements

Note	31 March 2022	31 December 2021	31 March 2022	31 December 2021
(Unaudited	(Audited)	(Unaudited	(Audited)
but reviewed)	but reviewed)
Assets
Current assets
Cash and cash equivalents	6,638,568	6,571,566	2,332,794	1,535,903
Trade and other receivables	3	20,654,302	20,593,484	21,483,560	21,200,265
Insurance claim receivable due to flooding	12	330,679	-	330,679	-
Inventories	4	19,617,332	19,580,655	13,335,450	13,639,515
Derivative assets	16.2	40,491	32,388	39,970	32,308
Other current assets	5	2,080,037	1,986,360	566,048	641,326
Total current assets	49,361,409	48,764,453	38,088,501	37,049,317
Non-current assets
Deposits at bank with restrictions	36,642	37,344	-	-
Investments in subsidiaries	6	-	-	13,909,473	13,909,473
Investment properties	222,966	230,593	-	-
Property, plant and equipment	7	19,090,222	18,583,129	11,141,991	10,836,226
Right-of-use assets	520,657	529,524	3,750	4,592
Goodwill	438,760	443,051	-	-
Other intangible assets	230,621	249,799	57,187	58,292
Deferred tax assets	296,964	347,610	-	-
Other non-current assets	101,169	152,871	9,185	10,239
Total non-current assets	20,938,001	20,573,921	25,121,586	24,818,822
Total assets	70,299,410	69,338,374	63,210,087	61,868,139

The accompanying notes are an integral part of the interim financial statements.

As at 31 March 2022

(Unit: Thousand Baht)

Consolidated financial statements

Separate financial statements

Note	31 March 2022	31 December 2021	31 December 2021
(Unaudited	(Audited)	(Audited)
but reviewed)
Liabilities and shareholders' equity
Current liabilities
Short-term loans from financial institutions	273,106	1,593,669	-	1,497,407
Trade and other payables	8	21,884,152	22,049,338	18,591,132	18,626,852
Current portion of lease liabilities	63,247	74,957	2,891	3,677
Income tax payable	148,953	124,668	68,823	37,072
Short-term provisions	10	106,278	98,422	-	-
Liabilities and provision from tax assessments	15.4.1	258,173	258,173	258,173	258,173
Derivative liabilities	16.2	47,143	18,481	45,263	15,533
Other current liabilities	366,142	518,025	83,350	162,855
Total current liabilities	23,147,194	24,735,733	19,049,632	20,601,569
Non-current liabilities
Long-term loans from related party	2	360,663	367,570	-	-
Lease liabilities, net of current portion	154,934	144,125	704	968
Deferred tax liabilities	132,476	130,696	-	-
Provision for long-term employee benefits	9	1,577,312	1,595,747	533,094	528,557
Long-term provisions	10	550,100	545,004	438,826	428,744
Other non-current liabilities	432,706	415,196	1,242	1,450
Total non-current liabilities	3,208,191	3,198,338	973,866	959,719
Total liabilities	26,355,385	27,934,071	20,023,498	21,561,288

31 March 2022

The accompanying notes are an integral part of the interim financial statements.

(Unaudited but reviewed)

As at 31 March 2022

(Unit: Thousand Baht)

Consolidated financial statements

Separate financial statements

31 March 2022	31 December 2021	31 March 2022	31 December 2021
(Unaudited	(Audited)	(Unaudited	(Audited)
but reviewed)	but reviewed)
Shareholders' equity
Share capital
Registered
1,259,000,000 ordinary shares of Baht 1 each	1,259,000	1,259,000	1,259,000	1,259,000
Issued and fully paid
1,247,381,614 ordinary shares of Baht 1 each	1,247,382	1,247,382	1,247,382	1,247,382
Share premium	1,491,912	1,491,912	1,491,912	1,491,912
Difference from business combination under
common control	(1,339,694)	(1,339,694)	-	-
Retained earnings
Appropriated - Statutory reserve	125,900	125,900	125,900	125,900
Unappropriated	44,556,516	41,776,388	40,321,395	37,441,657
Other components of shareholders' equity	(2,137,991)	(1,897,585)	-	-
Total shareholders' equity	43,944,025	41,404,303	43,186,589	40,306,851
Total liabilities and shareholders' equity	70,299,410	69,338,374	63,210,087	61,868,139
-	-	-	-

The accompanying notes are an integral part of the interim financial statements.

Directors