149.07 122.57 26.50 21.6% Gross profit 52.39 58.64 -6.24 -10.6% Gross profit margin 26% 32% SG&A 41.26 39.14 2.12 5.4% EBIT 12.35 21.95 -8.36 -38.1% EBITDA 32.77 47.66 -14.88 -31.2% EBITDA margin 16% 26

December 2019 with installed capacity of 15 MW and 4.8 MW respectively. Although most of new projects started in the middle of the year, B.Grimm’s 2019 net profit rose by 33.6% to Baht 3,977 million while

the expenses related to preparation for the planned listing to the Stock Exchange of Thailand in the first quarter of 2017 and increasing of computer system depreciation. Finance costs The Company

Thailand in the first quarter of 2017 and increasing of computer system depreciation. Finance costs The Company booked finance costs amounting to Baht 2.21 million in the nine-month period ended 30 September

19.27 Million Baht decreased or 74.20 percent when compared to the same period of previous year that had 25.79 Million Baht. 2 (2) Gross Profit Quarter 2-2019 Company and its subsidiaries had loss from

period -15.82 -83.69 67.87 81.10 Non-controlling interests of the subsidiaries 0.00 -14.60 14.6 -100.00 Profit(Loss) attributable to equity holders of the compa -15.97 -68.68 52.71 76.75 Financial Position

profit at 510.8 million baht, decreased from the first quarter of year 2018 by 208.5 million baht or 29.0 percent of which profit attributable to the equity holder of the Company was 504.3 million baht

percent and 2.8 percent respectively. However, revenue from airport-related services and unallocated revenue rose by 11.6 percent and 35.0 percent respectively. The Company reported net profit at 510.8

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 12 Executive Summary Growth in both revenue and net profit demonstrates the effectiveness of retail

year 2016 of 5,467 million Baht, comprising of: (1) revenue from sales of residential condominium units of 5,924 million Baht (64% of total revenues); increasing by 330.8% as compared to the year 2016 of