to achieve COD as scheduled in PPA, and construction cost is in line with the budget approved by lenders. This achievement would enable us to keep record of managing the project to commence COD in time

term. In addition to achieving revenue growth, the company-wide cost optimization is ongoing and translated into EBITDA expansion of +9% YoY and +2.4% QoQ to stand at Bt18,905mn, a reported margin of

million. Total expenses increased by Baht 640 million as compared to last year mainly due to the following:  Cost of hotel operations decreased by Baht 42 million which is in line with the lower hotel

) Consolidated * 2018 2017 Increase / (Decrease) % Change Revenues from sales 666.36 387.35 279.01 103.38% Other revenues 6.76 1.21 5.54 458.11% Total revenues 673.12 388.56 284.55 73.23% Cost of sales 256.50

% 100.00% Cost of sales (48.06 ) (37.80 ) (10.26 ) 27.14% (71.23%) (66.95%) Gross Profit 19.41 18.66 0.75 4.02% 28.77% 33.05% Other income 2.78 1.66 1.12 67.47% 4.12% 2.94% Gain on disposal of investment

: amounting of Baht 774.52 million). 2) Cost of sales decreased by Baht 26.70 million due to sales amount decreased. Cost of sales ratio at 86.30% (2018 : at 87.54%) which effected to the company has a gross

stated ) Q1 2017 Q1 2016 Change Amount % Total Revenues 3,946 3,910 36 0.9% Sales and service income 3,829 3,818 8 0.2% Other income 117 92 25 27.9% Cost of sales and services 3,533 3,550 (17) -0.5% SG&A

= 0.30581 THB This amount was calculated based on the cost (labor cost, administration cost, equipment cost etc.) of AFS who works for subsidiaries including overseas business, and the cost is allocated to

-37.78% Total Income 936.78 100.00% 537.52 100.0% 399.26 74.28% Expense Cost of sales 746.55 79.69% 326.94 60.8% 419.61 128.34% Selling expenses 51.52 5.50% 57.61 10.7% -6.09 -10.57% Administrative

from gain on sale of investments in the current period. Total expenses increased by Baht 17 million as compared to the same period last year which is generally the result of the following: • Cost of