from sales was -0.7% driven by 30.4% decline in OEM sales, particularly from OEM bottles as a result of major maintenance of a furnace in Ayutthaya early this year. Domestic Beverage including C-Vitt

the end of December 2016, due to a decrease in the value of foreign-denominated debentures as a result of the Baht’s appreciation. Shareholders’ Equity Shareholders’ equity (attributable to the Bank) as

and Administrative Expenses 244.45 197.78 +23.60 Financial Cost 30.80 34.60 -11.00 Net Profit 189.79 287.27 -33.93 (Unit : Million Baht) Financial statements in which equity method is applied 2017 2016

Particleboard have decreased by 8% and 20% respectively. 2. Cost of sales of Baht 1,917.3 million, decreased of Baht 57.7 million, due to decreased sales volume. 3. A foreign exchange loss of Baht 140.3 million

' equity 32,270 33,006 (2.2) Total liabilities and shareholders' equity 49,821 45,958 8.4 Property, plant and equipment as of 31 March 2020 amounted to Baht 12,506 million, an increase of Baht 905 million or

by 28.2%, majorly due to the Covid-19 pandemic situation causing lockdown in many countries that has majorly disrupted of tourism and hospitality industries. As a result, export sales decreased by 30.7

18.85 million mainly from the decrease of an unrealized gain from mark-to-market price of investment in listed equity securities and the gain on debt securities from the reduction the Company’s investment

Liilited 1 19 tulco l5 T, Scbprab A. Sobprab LampanE 52170 Thajlan.l Tei : r -66r 15;-858996 Fax: l- 661 054-296556 ,.'ii?',r. h o fi 't gpoiter,v. c orn August 12,2917 Subject Management Discussion and

21.0% in 2018. Excluding TBSP’s gross profit margin of 18.6%, the Company’s gross profit margin in 2019 was 23.4%, slightly decline from a year earlier, primary by lower Gross Profit of Packaging & Label

Q1/2017Q2/2017   Page 2 of 7    The company has established two more subsidiaries: 1) BAFS INTECH Company Limited, with a registered capital of Bt60.0 million. The Company holds a 90% stake. This