(fio strategic improvement plan for economic profit) swot analysis) เป็นต้น 3....

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  • ...

    (FIO Strategic Improvement Plan for Economic Profit)

    *********************

    1.

    (EVM) 2549 2549 2550

    (Economic Profit EP) 2551 EVM

    ...

    2550 EP 2549

    2546 2548 EVM

    EP EP

    EP

    2551 ...

    1.

    2549 2550

    EVM

    (Strategic Improvement Plan) 25512555 Balanced Scorecard

    4 (4 Perspective)

    BSC EP

    o EP

    o Operational Driver Tree

  • 2

    o BSC /

    o BSC EVM

    2.

    2552/ 2553/ 2554/ 2555

    EVM

    (SWOT Analysis)

    3. EVM

    MDF /

    4. EVM

    EP EP EP

    EVM /

    5. EP

    ...

    2.

    2554 .

    ..

    2.1 2551/ 2552

    8 1) 2) /

    3) 4) 5)

    6) (Public Service Obligation: PSO) 7)

    2.2 EVM

    EVM

    EP

  • 3

    2.3 EP 2554 2554 ( 2)

    2554

    2.4 (Operational Driver Trees)

    EP

    2554

    (NOPAT) ( CC-Capital Charge)

    EP

    : ... 2554 2 ( 2554)

    900.80

    769.22

    131.58

    EP 78.98

  • 4

    271.50 1.71

    + 8.42 334.53 - 0.78- - - 0.36- 14.44

    30% + 2.27 213.38 43.14 - OSCU - 900.80 49.71

    adjust +PSO 2.66 15.53 adjust (+)

    139.83

    NOPAT NOPBT NET PROFIT 3.42 100.65 143.79 131.58 760.80 169.00

    -

    ( - ) 14.51 EP 161.09 78.98 212.47

    WACC Kd(D/D+E)=0.17% 8.42 - 10.72% Ke(E/D+E)=10.55% 50.07

    CC 10.40 21.67

    IC 281.48 202.15 336.57

    ( - ) adjust + 33.77 + 14.38

    adjust ( - ) ( - ) 3,289.21 - . 103.24

    + 3,640.98 291.50

    - ( - ) adjust3,077.03 - . 351.78

    ( x )

    12.21

    -

    EP)

  • 5

    ... 2554 2 ( 2554)

    224,801,344.24

    21,106,762.82

    - 2,846,648.88 2,846,648.88

    300,021.33 6,281,935.19 5,981,913.86

    - - -

    - - -

    - 145,091,316.77 292,263.20

    2,663,761.95 6,796,616.69 -

    142,135,291.62 6,650,986.00

    471,881.58 441,595.50 380,883.82

    7,727,599.78 24,235.20 494,181.02

    1,795,812.61 1,091,398.15 170,880.00 - 1,523,567.30

    900,802,485.32 67,272.08 54,238.58 9,151,747.78

    / 287,211.19 537,479.96 86,378.97

    2,506,209.36 324,353.99

    526,137.57 OSCU -

    49,708,683.07 13,151,707.24

    1,523,567.30

    #REF!

    -

    413,134,015.09

    50,136,927.12

    334,533,020.88

    86,850,940.06

    14,440,230.28

    1,707,351.89

  • 6

    : ... 2554 2 ( 2554)

    Unlevered Beta (bu) = 0.87 levered Beta (bl) = 0.9221

    Ke(E/D+E) Market Risk Premum (MRP) = 7%10.56% Risk Free Rate = 5%

    Tax Rate = 30% WACC (+)10.72%

    Kd(D/D+E)

    0.17% 60,954,215.42

    55,626,425.60

    ( x ) - 78,522,555.48 21,669,463.67 281,481,202.30 -

    141,471,060.60 .

    adjust

    + 33,774,865.32 79,055,926.28

    + 14,376,959.48

    - 103,244,879.60

    202,155,610.31

    27,133,832.89

    -

    130,323,749.34 . 80,000,000.00

    3,289,206,089.26 - 265,719,359.67 . 14,300,000.00

    3,210,380,733.30

    7,425,233.75

    adjust adjust

    - 351,776,819.69

    + 291,504,997.12

    - 3,077,026,684.13

  • 7

    2.5 (Operational Driver Trees)/ Financial

    Driver Trees

    EP

    (Key Value Driver )

    EVM 2554

    ( 2554)

    ()

    1.

    1.1 343.684

    1.2 227.647

    1.3 () 142.135

    1.4 21.160

    1.5 / 14.901

    1.6 11.902

    2. ()

    2.1 436.100

    2.2 190.362

    2.3 24.950

    3.

    3.1 78.522

    3.2 3,210.380

    3.3 295.784

    EVM 3

    (Invested Capital) NOPAT

  • 8

    Nopat ()

    6 EP

    3

    ()

    1 1.1

    1.2

    1.3

    1.4

    2 2.1

    2.2

    2.3

    2.4

    3 3.1

    3.2

    3.3

  • 9

    2.6 (Key Value Driver) EP 2554

    1. 2.

    3. 4. ()

    5. 6.

    7.

    8. ()

    9. ()

    9 (Sensitivity

    Analysis) EP

    2554 5 + 5 % EP

    : ... 2554 2 ( 2554)

  • 10

    EP

    EP

  • 11

    2.6

    2.6.1 EP (Sensitivity Analysis)

    1) 7)

    2) 8)

    3) 9)

    4) ()

    5)

    6)

    2.6.2 (Manage Ability)

    1) 7)

    2) 8)

    3) 9)

    4) ()

    5)

    6)

    2.6.2 EP

    3. EP

    EP ... 2554 Operational

    Driver Trees 2554

    2555

  • 12

    8

    1.

    2.

    3.

    4. ()

    5.

    6.

    7.

    8.

    EP

    EP

    ********************************