partially offset by significant cost increase of secondary raw material. Earnings Analysis 2Q 2018 core EBITDA increased by 63% to $388 million year-on-year.On a portfolio basis, IVL achieved a Core EBITDA
leading to margin increase in all commodity products, supporting the increase in crude oil prices. All of this is translating into stronger than anticipated earnings in first half 2021. Transformation
reported at 21.6%, nearly to %GP 9M18 represented at 21.7%. Excluding TBSP %GP at 17.2%, Company’s core %GP achieved at 24.9%, primary by higher Gross Profit of High-Valued Document. Excluding extra expenses
the cost of sales. Core Net Profit is the Reported Net Profit less extraordinary items less tax adjusted inventory gain/loss. Net Operating Debt is Net Debt (total debt less cash and current investments
Purchases and impairments (Net)1 62 (14) 26 527% 139% Other Extraordinary Income/(Expense) (6) (13) 6 50% (208)% = Net Profit after Tax and NCI 18 (47) 117 139% (84)% 1 A gain on bargain purchase needs to be
4,348 -22% -3.1% 19,879 17,782 -11% Operating profit 9,310 9,135 9,242 -0.7% 1.2% 41,254 37,555 -9.0% Net foreign exchange gain (loss) 16 -181 256 n/m -242% 308 -2 -101% Other income (expense) 214 195 136
PROJECTS UNDER CONSTRUCTION NON-OPERATING ITEMS 2016 2017 % change million Baht million Baht y-on-y Other revenues 172 187 8.9% Share of profit (loss) of associates 261 256 -2.0% Gain (Loss) on exchange rate
inventory gains decrease the cost of sales and inventory losses increase the cost of sales. Core Net Profit is the Reported Net Profit less extraordinary items less tax adjusted inventory gain/loss. Net
3,278.41 3,116.11 162.30 5.2 Gain (loss) on exchange rate 281.02 (755.73) 1,036.75 137.2 Profit Attributable to Owner of the Company 3,559.43 2,360.38 1,199.05 50.8 Earnings per share (Baht) 2.45 1.63 Fuel
earnings. The Board of Directors has approved the 2017 annual dividend amounting to Bt3.57/share or 70% of the net profit from 2H17 performance. The XD and payment dates will be on 5th April 2018 and 26