EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED

INTERIM CONSOLIDATED AND SEPARATE FINANCIAL INFORMATION (UNAUDITED)

31 March 2023

AUDITOR'S REPORT ON THE REVIEW OF THE INTERIM FINANCIAL INFORMATION

To the Shareholders and Board of Directors of Eastern Water Resources Development and Management Public Company Limited

I have reviewed the interim consolidated financial information of Eastern Water Resources Development and Management Public Company Limited and its subsidiaries, and the interim separate financial information of Eastern Water Resources Development and Management Public Company Limited. These comprise the consolidated and separate statements of financial position as at 31 March 2023, the related consolidated and separate statements of comprehensive income, changes in equity, and cash flows for the three-month period then ended, and the condensed notes to the interim financial information. Management is responsible for the preparation and presentation of this interim consolidated and separate financial information in accordance with Thai Accounting Standard 34, "Interim Financial Reporting". My responsibility is to express a conclusion on this interim consolidated and separate financial information based on my review.

Scope of review

I conducted my review in accordance with the 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 consolidated and separate financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34, "Interim Financial Reporting".

Emphasis of matter

I draw your attention to Note 18 to the interim financial information regarding compensation for pipeline project. The Company paid compensation at a preliminary rate for two water pipeline projects which the compensation may be subject to change. My conclusion is not modified in respect of this matter.

PricewaterhouseCoopers ABAS Ltd.

Vichien Khingmontri

Certified Public Accountant (Thailand) No. 3977

Bangkok

11 May 2023

Eastern Water Resources Development and Management Public Company Limited

Statement of Financial Position

As at 31 March 2023

(Unit: Baht'000)

Consolidated

Separate

financial information

financial information

(Unaudited)

(Audited)

(Unaudited)

(Audited)

31 March

31 December

31 March

31 December

Notes

2023

2022

2023

2022

Assets

Current assets

Cash and cash equivalents

297,713

90,933

129,273

11,761

Financial assets measured at

amortised cost

8

800,520

709,474

195,538

120,610

Trade and other receivables

9

534,539

416,110

380,164

277,944

Inventories

65,482

70,902

49,469

55,195

Current portion of long-term loan

to a subsidiary

16.5

-

-

400,000

400,000

Other current assets

146,508

136,916

130,392

111,472

Total current assets

1,844,762

1,424,335

1,284,836

976,982

Non-current assets

Restricted deposits at financial institutions

5,000

5,000

-

-

Investment in a subsidiary

-

-

510,000

510,000

Long-term loan to a subsidiary

16.5

-

-

400,000

400,000

Investment property - net

181,180

182,922

149,085

150,979

Property, plant and equipment - net

10

19,796,890

19,299,037

19,614,591

19,111,537

Right-of-use assets - net

11

285,515

286,111

232,083

231,461

Goodwill

103,283

103,283

-

-

Intangible assets - net

10

2,848,434

2,934,262

131,234

135,553

Deferred tax assets - net

17,848

14,310

-

-

Other non-current assets

12

842,718

848,534

805,766

811,165

Total non-current assets

24,080,868

23,673,459

21,842,759

21,350,695

Total assets

25,925,630

25,097,794

23,127,595

22,327,677

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(

)

(

)

The accompanying notes are an integral part of this interim financial information.

2

Eastern Water Resources Development and Management Public Company Limited

Statement of Financial Position (continued)

As at 31 March 2023

(Unit: Baht'000)

Consolidated

Separate

financial information

financial information

(Unaudited)

(Audited)

(Unaudited)

(Audited)

31 March

31 December

31 March

31 December

Notes

2023

2022

2023

2022

Liabilities and equity

Current liabilities

Short-term borrowings from

financial institutions

13.1

1,035,000

1,780,000

500,000

1,215,000

Bills of exchange

13.2

499,386

-

499,386

-

Trade and other payables

14

185,794

238,428

143,670

197,562

Current portion of long-term borrowings

from financial institutions

13.3

1,606,500

1,306,500

1,606,500

1,306,500

Current portion of lease liabilities

13.5

34,911

32,786

22,608

23,065

Income tax payable

80,790

41,180

36,215

12,392

Accrued expenses

141,870

173,851

107,792

139,998

Other current liabilities

139,961

134,418

84,229

76,818

Total current liabilities

3,724,212

3,707,163

3,000,400

2,971,335

Non-current liabilities

Long-term borrowings from

financial institutions

13.3

5,277,500

5,977,500

5,277,500

5,977,500

Debentures

13.4

4,145,296

2,797,107

4,145,296

2,797,107

Lease liabilities

13.5

287,339

288,748

246,655

244,764

Deferred tax liabilities - net

294,762

305,451

88,296

91,796

Employee benefit obligations

198,170

195,735

135,700

134,646

Long-term provisions

57,598

53,617

-

-

Other non-current liabilities

221,315

204,809

207,159

191,308

Total non-current liabilities

10,481,980

9,822,967

10,100,606

9,437,121

Total liabilities

14,206,192

13,530,130

13,101,006

12,408,456

The accompanying notes are an integral part of this interim financial information.

3

Eastern Water Resources Development and Management Public Company Limited

Statement of Financial Position (continued)

As at 31 March 2023

(Unit: Baht'000)

Consolidated

Separate

financial information

financial information

(Unaudited)

(Audited)

(Unaudited)

(Audited)

31 March

31 December

31 March

31 December

2023

2022

2023

2022

Liabilities and equity (continued)

Equity

Share capital

Registered share capital

Ordinary shares, 1,663,725,149 shares

of par Baht 1 each

1,663,725

1,663,725

1,663,725

1,663,725

Issued and paid-up share capital

Ordinary shares, 1,663,725,149 shares

of par Baht 1 each

1,663,725

1,663,725

1,663,725

1,663,725

Share premium

2,138,522

2,138,522

2,138,522

2,138,522

Retained earnings

Appropriated - legal reserve

166,500

166,500

166,500

166,500

- concession reserve

493,538

485,993

60,527

59,353

Unappropriated

7,101,242

6,959,680

5,997,315

5,891,121

Equity attributable to owners of the Company

11,563,527

11,414,420

10,026,589

9,919,221

Non-controlling interests

155,911

153,244

-

-

Total equity

11,719,438

11,567,664

10,026,589

9,919,221

Total liabilities and equity

25,925,630

25,097,794

23,127,595

22,327,677

The accompanying notes are an integral part of this interim financial information.

4

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Eastern Water Resources Development and Management pcl published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2023 08:42:10 UTC.