Liabilities 808 698 918 Total Liabilities 817 707 938 Shareholder’s Equity 451 478 513 OPERATING RESULT (MILLION BAHT) Sales Revenue 3,660 3,610 946 Gross Profit 263 274 79 Operating Profit 124 154 45 Profit

Liabilities 808 698 829 Total Liabilities 817 707 841 Shareholder’s Equity 451 478 477 OPERATING RESULT (MILLION BAHT) Sales Revenue 3,660 3,610 2,570 Gross Profit 263 274 213 Operating Profit 124 154 119

million. 2. Trade and other receivable decreased Baht 55.5 million. 3. Revenue Department receivable decreased Baht 83.3 million. 4. Inventories decreased Baht 370.9 million, mainly caused by decreased of

Baht 1,785.3 million as below detailed; 1. Cash and cash equivalent items decreased Baht 144.9 million. 2. Trade and other receivable increased Baht 108.0 million. 3. Revenue Department receivable

39.1 million. 2. Trade and other receivable decreased Baht 209.9 million. 3. Revenue Department receivable increased Baht 26.8 million. 4. Inventories increased Baht 18.7 million, mainly caused by

million as below detailed; 1. Cash and cash equivalent items increased Baht 104.0 million. 2. Trade and other receivable decreased Baht 270.6 million. 3. Revenue Department receivable increased Baht 45.7

compared to the 2018, Baht 16,503.0 million, increased Baht 1,303.8 million as below detailed; 1. Cash and cash equivalent items increased Baht 127.3 million. 2. Trade and other receivable increased Baht

31.8 million. 2. Trade and other receivable decreased Baht 88.8 million. 3. Revenue Department receivable decreased Baht 144.5 million. 4. Inventories decreased Baht 15.1 million, mainly caused by

valued Baht 18,297.5 million, as compared to the 2019, Baht 17,627.7 million, increased Baht 669.8 million as below detailed; 1. Cash and cash equivalent items increased Baht 215.0 million. 2. Trade and

MMS-AC62/013 August 7, 2019 Subject: Management Discussion and Analysis of Operating Results for 2Q19 ending June 30, 2019 To: The President of the Stock Exchange of Thailand Matching Maximize Solution