and services segment showed improvement during the last quarter of the year as a result of the government’s economic stimulus. Private investment contracted in all investment categories from the

increase of revenue from office segment and management income • EBITDA stood at THB (93)mn, largely from the shortfall of revenue, partially relieved by lower operating costs and selling and administrative

increase of 33.41% from the previous year. GFPT Public Company Limited Management Discussion and Analysis for the Year 2018 Page 2 of 14 Overall Financial Performance and Profitability Business Segment of

. GFPT Public Company Limited Management Discussion and Analysis for the Year 2019 Page 2 of 14 Overall Financial Performance and Profitability Business Segment of GFPT Group 2017 2018 2019 MB % MB % MB

financials are based upon elimination of intra-company or intra-business segment) transactions. 2Total of each segment may not always tally with consolidated financials due to holding segment. 3Core EBITDA is

% Net profit margin attributable to owners of the parent 13.2% 13.1% 0.1% 12.8% 12.3% 0.5% Key Change in Segment Grouping In 2019, the Company has changed reportable segments. The strategic divisions

private consumption and private investment. Private consumption grew notably in durable goods segment (especially in vehicles) while growth in non-durable and semi-durable goods contracted partly from the

expand largely from domestic demands contributed both from private consumption and private investment. Private consumption grew notably in durable goods segment (especially in vehicles) while growth in non

to monitor the situation closely in order to conduct the appropriate measures. For more details, please see section “COVID-19: Impacts and Response Plan” 1Q 2020 PERFORMANCE 1Q 2020 P&L SNAPSHOT AND

, an increase in agricultural prices and the increase in overall wage especially in the low income segment are met, these might help the recovery to become sufficiently broad-based. 2) Public and private