Equity 14,420 14,054  The Company posted net profit for the first quarter of 2018 amounted to THB 366 million which lower than last year quarter by THB 601 million mainly due to in last year quarter the

transaction is not classified as acquisition and disposition of assets since the size is lower than 15%; the Meeting can approve and proceed this transaction. However, this transaction will be presented in the

sugar tax and excise tax effective in Oct’19. “Fit Fast Firm” project deliverables in 2019 are lower raw material and packaging costs, packaging optimization, new lighter weight bottles and more

& Distribution Expenses per net sales 6.4% 6.7% (0.3%) 6.0% 6.2% (0.2%) Administrative Expense per net sales 11.1% 10.9% 0.1% 8.3% 8.2% 0.1% Net profit margin 5.1% 5.5% (0.4%) 6.9% 6.7% 0.2% - Basic earnings per

Assets” ) with the transaction size of 30.24% of net profit of the Company’ s consolidated financial statements as of 30 September 2017. The transaction size is higher than 15% threshold criteria but lower

Revenue, whereas Gross Profit decrease mainly as a result of lower Excessive Charge. In 9M2019, Gross Profit was Baht 529.9 million, a 15.9% increase from Baht 457.3 million in 9M2018, and Gross Profit from

capital Issued and Paid up capital 383.00 20.20% 383.00 18.08% Premium on stock 519.67 27.41% 519.67 24.53% Retained earnings Legal reserve 75.25 3.97% 75.25 3.55% Un-appropriated 435.13 22.95% 439.01 20.72

& Distribution Expenses per net sales 6.4% 6.7% (0.3%) 6.0% 6.2% (0.2%) Administrative Expense per net sales 11.1% 10.9% 0.2% 8.3% 8.2% 0.1% Net profit margin 5.1% 5.5% (0.4%) 6.9% 6.7% 0.2% - Basic earnings per

decrease of THB 3.6 Mn or 21.1%. This decrease was mainly due to a decrease in royalty and marketing fee income of franchise branches which had lower revenue from epidemic situation of COVID-19 and temporary

, mainly due to the lower electricity generation, compared to the same period of the previous year. Management Discussion and Analysis For the Three-month and Nine-month Periods Ended 30 September, 2019 Page