also resembles, while we will continue to improve on our journey to zero injuries. Operationally our continued focus on quality and services resulted in recognition from our customers in the form of

THB 1,689 million, increased by THB 104 million or equivalent to 6.5%, due primarily to our one-time recognition of certain unrecognized tax expenses from the prior period arising from one of our

and 2018 were THB 10,872 million and THB 11,090 million, respectively, a decrease of THB 218 million or 2.0%, mainly due to higher recognition of depreciation. 5. Goodwill Goodwill arises from the

-Café 2 Catering / Pop-up 3 4 1 Franchise Fee Income 4 • Revenue recognition of initial franchise fee • *Actual franchise fee recognized in Q4/2019 was THB 0.9 million Management Discussion & Analysis YE

, largely as a result of price increases, especially in our static media network. Moreover, this business segment has benefited from the recognition of synergies from Rabbit Group through a “Station

company’s tax saving in Q2/2016. Meanwhile, electricity profit was increased by recognition of operating performance of SEGSD. Page 13 Other Subsidiaries in Power Generation business: Unit : Million Baht

to its turnkey business, the revenue recognition is performed based on percentage of completion method which may deviate from the payment plan according to the contractual conditions. As a result

a near-zero margin contribution. This will partially be offset with a full- year recognition of payments to TOT for the use of spectrum, towers, and equipment. Overall, we expect the consolidated

Receivables Due to its turnkey business, the revenue recognition is performed based on percentage of completion method which may deviate from the payment plan according to the contractual conditions. As a

the same period in 2016. This was due to the termination of the programmed co-production agreement before the due date at the beginning of 2016 but no revenue recognition from other business, which was