Siam Makro Public : Financial Statement Q2/2021

Siam Makro Public Company Limited

and its Subsidiaries

Interim financial statements

for the three-month and six-month periods ended

30 June 2021

and

Independent Auditor's Review Report

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Independent Auditor's Report on Review of Interim Financial Information

To the Board of Directors of Siam Makro Public Company Limited

I have reviewed the accompanying consolidated and separate statements of financial position of Siam Makro Public Company Limited and its subsidiaries, and of Siam Makro Public Company Limited, respectively, as at 30 June 2021; the consolidated and separate statements of income and comprehensive income, for the three-month and six-month periods ended 30 June 2021; the consolidated and separate statements of changes in equity and cash flows for the six-month period ended 30 June 2021; and condensed notes ("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".

KPMG Phoomchai Audit Ltd., a Thai limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

Other Matter

The consolidated and separate statements of financial position of Siam Makro Public Company Limited and its subsidiaries, and of Siam Makro Public Company Limited, respectively, as at 31 December 2020, which are included as comparative information, were audited by another auditor of our firm who expressed an unmodified opinion thereon in her report dated 19 February 2021. The consolidated and separate statements of income and comprehensive income, for the three-month and six-month periods ended 30 June 2020; the consolidated and separate statements of changes in equity and cash flows for the six-month period ended 30 June 2020 of Siam Makro Public Company Limited and its subsidiaries, and of Siam Makro Public Company Limited, respectively, which are included as comparative information, were reviewed by another auditor of our firm who expressed an unmodified conclusion thereon in her report dated 10 August 2020.

(Piyatida Tangdenchai)

Certified Public Accountant

Registration No. 11766

KPMG Phoomchai Audit Ltd.

Bangkok

10 August 2021

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Siam Makro Public Company Limited and its Subsidiaries

Statement of financial position

		Consolidated		Separate
		financial statements		financial statements
		30 June		31 December		30 June		31 December
Assets	Note	2021	2020	2021	2020
		(Unaudited)				(Unaudited)
				(in thousand Baht)
Current assets
Cash and cash equivalents		7,442,128	10,483,774	6,165,124	8,793,810
Current investments		-	34,569	-	-
Trade accounts receivable	3, 4	821,526	944,795	314,988	336,985
Other current receivables	3	769,723	482,726	363,800	189,952
Short-term loans to subsidiaries	3	-	-	58,432	33,776
Inventories	3	13,883,785	14,477,506	12,254,453	13,251,096
Purchase discount receivables		737,838	1,188,115	710,906	1,181,449
Accrued income		533,819	631,693	532,734	602,392
Other current assets	12	11,435		7,854		3,092		-
Total current assets		24,200,254	28,251,032	20,403,529	24,389,460
Non-current assets
Investments in subsidiaries	5	-	-	8,279,030	8,104,030
Other non-current receivables		15,800	13,266	-	-
Property, plant and equipment	3, 6	30,205,080	30,564,325	28,486,182	28,756,811
Right-of-use assets	7	10,722,040	10,204,159	9,042,966	8,591,920
Investment properties		112,498	112,498	112,498	112,498
Goodwill		2,190,599	2,190,599	-	-
Other intangible assets other than goodwill	3, 8	2,115,253	2,200,651	1,347,698	1,427,119
Deferred tax assets		503,230	453,031	475,165	426,722
Other non-current assets		66,223		44,594		35,557		15,186
Total non-current assets		45,930,723		45,783,123		47,779,096		47,434,286
Total assets		70,130,977	74,034,155	68,182,625	71,823,746

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

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Siam Makro Public Company Limited and its Subsidiaries

Statement of financial position

		Consolidated		Separate
		financial statements		financial statements
		30 June		31 December		30 June		31 December
Liabilities and equity	Note	2021	2020	2021	2020
		(Unaudited)				(Unaudited)
				(in thousand Baht)
Current liabilities
Short-term borrowings from
financial institutions		633,019	1,050,248	-	299,779
Trade accounts payable to other parties		22,549,957	25,804,464	21,602,800	24,886,085
Trade accounts payable to related parties	3	1,998,068	2,169,530	2,061,647	2,214,892
Other current payables to other parties		1,659,913	1,672,315	1,569,752	1,574,472
Other current payables to related parties	3	338,545	303,977	329,343	290,952
Short-term borrowings from other parties		-	6,007	-	-
Corporate income tax payable		615,560	927,352	607,520	919,055
Accrued expenses		2,312,148	2,837,756	2,080,294	2,631,507
Current portion of long-term borrowings
from financial institutions	12	2,001,308	5,001,209	2,000,000	5,000,000
Current portion of lease liabilities	3	583,340	495,481	554,746	481,006
Other current liabilities	12	247,373		286,391		229,029		278,259
Total current liabilities		32,939,231	40,554,730	31,035,131	38,576,007
Non-current liabilities
Long-term borrowings from
financial institutions	12	5,001,572	2,001,620	5,000,000	2,000,000
Other non-current payables		3,617	4,317	3,617	4,317
Lease liabilities	3	8,160,833	7,621,594	6,243,111	5,829,190
Provisions for employee benefits		1,056,364	1,032,367	1,012,612	993,662
Deferred tax liabilities		80,239	80,331	-	-
Other non-current liabilities		32,350		28,678		32,179		28,564
Total non-current liabilities		14,334,975		10,768,907		12,291,519		8,855,733
Total liabilities		47,274,206		51,323,637		43,326,650		47,431,740

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

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