was exporting new time high because the global price is higher than domestic. In addition, the price of raw materials abroad is higher than in local. However, the Company aware of the price fluctuation

of raw materials, especially electrical parts, resulted in higher cost of raw materials. These have adversely affected the company’s sales revenues and profit. Sales revenues of this quarter amounting

% 215 -32% 361 730 -51% Adjusted EBITDA Margin (%) 4.4% 6.8% -2.4% 7.6% -3.2% 5.9% 8.2% -2.3% Net Profit -36 67 -154% 20 -280% -16 131 -112% Item from raw materials derogation 14 -2,004 -101% 2 600% 16

- drink milk, drinks 498.91 290.89 1,474.70 767.79 208.02 71.51 706.91 92.07 Immovable property business 3.15 4.69 9.57 14.16 (1.54) (32.84) (4.59) (32.42) Agriculture and dairy farm 13.73 10.88 46.15 42.97

- drink milk, drinks 472.24 276.36 975.79 476.89 195.88 70.88 498.90 104.62 Immovable property business 3.47 4.76 6.42 9.48 (1.29) (27.10) (3.06) (32.28) Agriculture and dairy farm 15.33 14.80 32.43 32.09

- drink milk, drinks 276.36 178.92 476.89 346.52 97.44 54.46 130.37 37.62 Immovable property business 4.76 4.72 9.48 9.38 0.04 0.85 0.10 1.07 Agriculture and dairy farm 14.80 17.76 32.09 35.14 (2.96) (16.67

milk, drinks 178.92 106.37 346.52 213.90 72.55 68.21 132.62 62.00 Immovable property business 4.72 2.82 9.38 5.53 1.90 67.38 3.85 69.62 Agriculture and dairy farm 17.76 10.44 35.14 20.57 7.32 70.11 14.57

the cost of raw materials used in production is lower than the year 2018. 4. Cost from the water management business for quarter 2/2019 was 70.48% of income. Cost per income rate decreased compared to

700.8 440.6 169.4 Non-Controlling Interests 278.5 0.00 (278.5) (100.0) 1 Operating Revenue consists of Raw Water Sales, Industrial Water Sales, and Wastewater Treatment Services. 2 Other Incomes from

of the existing and new manufacturer's installed capacity. However, the Company aware of the price fluctuation risks, has set the policy determined especially in raw material procurement procedures