high at approximately 4 times current liabilities. Operating Cashflow (Recurring EBITDA) in Q3 2019 was THB 664m which was 40% lower than Q3 2018 was THB 1,098m. Capital Expenditure Net Capital
approximately 4 times current liabilities. Operating Cashflow (Recurring EBITDA) in Q1 2020 was THB 766m which was 68% higher than Q1 2019 was THB 455m. Capital Expenditure Net Capital Expenditure was THB 230m in
increase of number of Thai and foreign tourists. As a result, the service sector and private consumption have expanded. Private investment has improved while Public expenditure shrink from regular government
to maintain liquidity. Public expenditure was affected by the delayed enactment of the Annual Budget Expenditure Act B.E. 2563. The government is also reallocating parts of its budget to mitigate the
almost all nationality groups, especially the number of Chinese tourists. Meanwhile, domestic demand expanded at a gradual pace both the private consumption and investment. Public expenditure remained an
full-year contribution from Invista Germany. Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance
year that IVL realize full-year contribution from Invista Germany. Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of
over the last eight quarters. Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance sheet and cash
2018 MD&A 7 Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance sheet and cash flow generation are