from sale of real estate for the 6-month period ended 30 June 2018 and 2019 were THB 975.70 and 699.15 million consecutively. Revenue from sale of properties decreased by THB 276.55 million or 28.34% due

million from GLOW) due to the first full quarter recognition of natural gas cost from GLOW (only 18 days recognition in Q1/2019). However, natural gas price of Cogeneration and SPP of GPSC slightly

revenue of years preceding 2017 was revised up and recorded in 2Q’17 for the amount of THB 7.7 million. Therefore, social security revenue growth of 2Q’18 was only 11% yoy because of this high base

data of flights that serviced by BAFS only at BKK and DMK Total revenue of 2019 of the Group was Bt3,956.1 million increased by Bt149.5 million or 3.9%(y-o-y) and the services income was of Bt3,872.4

customer from 2019 to mid of 2020 due to eminent domain problem. Revenue from sale of electricity rose by 8.69% as a result of ongoing repair and maintenance of the overall power generator which gradually

AND ANALYSIS 2019 Revenue from steel tower manufacturing decreased by 37.21% as a result of rescheduling of production and delivery plan by major customer from 2019 to mid of 2020 due to eminent domain

and 2020 were 61.3% and 60.9%, respectively, decreased by 2.7% from Q4/2019 and 3.8% from 2019. • The decrease in gross profit margin was mainly due to the reduction in total revenue from sales in a

THB 1,778.7 mm, which decreased by 13.1%, compared to the same period of last year. However, if only considering, normalized share of profit from investments in associates decreased by 4.6%, mainly due

the usage of machineries in the past 5 years during 2015-2019 where it was found that during such period the Company had not fully utilized the production capacity. The Company has produced only the off

usage of machineries in the past 5 years during 2015-2019 where it was found that during such period the Company had not fully utilized the production capacity. The Company has produced only the off-peak