以下是BTS的近年的運營情況，可以看到，在停滯多年後，近兩年曼谷的的軌道交通迎來大爆發，很多綫路也新開通，估計未來一段時間仍將持續。
Good afternoon, everyone. Once again, thank you for joining today's full year's results presentation. We'll go straight through the presentation first in the usual manner. So on Slide 4, I'll give you some of the highlights.
On the P&L, you can see an excellent year for -- in terms of profitability. Our operating revenue, up 240%; operating EBITDA, 49% to THB 6.1 billion; and net recurring profit also up almost 30% to THB 3.2 billion.
On the balance sheet side, you can see a very fast expansion, 36% year-on-year. Within the SET50, there was only 1 other company that expanded at a faster rate, it was GPSC following the acquisition of Glow, so 36% balance sheet expansion for BTS Group. Cash and equity investments remain at around THB 18.7 billion, so net D/E 1.1x, essentially fairly low still.
On the cash flow, a year of investment primarily in Mass Transit, THB 24.6 billion on the Pink and Yellow Lines and THB 4.1 billion on the Green Line extensions. Our media team was also quite busy buying things as well, acquisition of Kerry Express for around THB 5 billion in terms of cash.
On to the next slide, we have some of the key milestones for the year by BU. So starting with Mass Transit, in June, the notice to proceed for the Pink and the Yellow Line and followed July by the O&M contract for the Gold Line. In December, as you know, we completed on time, the full operation of the Southern Green Line extension, 12.6 kilometers. And in March, we submitted a bid for the U-Tapao International Airport as part of a consortium.
On the Media side, plenty of activity. The acquisition of 23% of Kerry Express in July. MACO acquired Trans. Ad subsequently in July also. In October, we had the launch of various new Rabbit LINE Pay features. And in February, a lot of joint ventures and partnerships on the VGI side which I'm sure the team will go into later.
On the Property side, as you all know, the EGM approved the capital reduction and the share amalgamation of our U City shares. Nothing else within the fiscal year but subsequently in April, U City sold -- went into an agreement to sell the land at Mo Chit close to here, as well as also entering into a share purchase agreement to acquire hotels under the Arcona brand name in Europe.
On the holding company side, BTS Group was selected as a member of the DJSI Emerging Markets Index 2018 at its first attempt. The company was also involved in some debt raising, THB 9.5 billion debenture issue in September. We issued some warrants as well in November. You know about the interim dividend as well and subsequent to the year-end, there was some disposals of a JV to Bayswater which I think we have a slide on later on today. We also issued the first green bond in Thailand under the SEC regulations around about THB 13 billion.
And finally some -- as you would have seen from the Board of Directors' agendas released a couple of days ago, a final dividend of THB 0.25 per share which is subject to the Shareholders' Meeting in July.
Moving on now into the P&L snapshot. Operating revenue, THB 47.9 billion, up 240% year-on-year, again primarily driven by Mass Transit. You can see the chart in the bottom right-hand corner where the increase is driven by THB 32 billion increase from Mass Transit revenue, a THB 1.2 billion increase in Media revenue, an increase in Services revenue of THB 663 million and a decline in Property revenue of THB 279 million from -- following the EBT.
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