services 173.70 192.80 -19.11 -10% Gross profit 78.46 77.72 0.75 1% Gross profit margin 31% 29% SG&A 52.64 50.01 2.63 5% EBIT 27.19 29.35 -2.16 -7% EBITDA 53.75 52.19 1.56 3% EBITDA margin 21% 19% Finance

ethanol sales volume to increase by 171% YoY. Gross profit margin of molasses based ethanol business increased from lower raw material cost, while the gross profit margin for cassava based ethanol declined

ratio 30-Sep-19 30-Sep-18 Gross profit margin 29.6% 29.6% EBITDA margin 21.0% 17.6% Net profit margin 1.2% 4.3% Efficiency ratio 30-Sep-19 30-Sep-18 Return on equity* 0.8% 9.9% Return on asset* 2.6% 7.5

ratio 30-Sep-19 30-Sep-18 Gross profit margin 29.6% 29.6% EBITDA margin 20.9% 17.6% Net profit margin 1.2% 4.3% Efficiency ratio 30-Sep-19 30-Sep-18 Return on equity* 3.5% 9.7% Return on asset* 5.9% 7.0

profit margin and capital structure.  Normalized net profit attributable to owner of the parent increased 12.8% from Baht 775 million to Baht 874 million for six months ended June 30, 2017. The portion of

(Day) 32.5 33.9 Profitability Ratio Gross Profit Margin (%) 8.0 15.0 Operating Profit Margin (%) 2.0 8.7 EBITDAR Margin (%) 13.2 18.9 Net profit Margin (%) (0.6) 3.2 Return on Equity (%) (0.5) 3.0

Ratio Gross Profit Margin (%) 12.9 27.5 Operating Profit Margin (%) 5.7 21.0 EBITDAR Margin (%) 18.4 30.2 Net profit Margin (%) 0.3 10.6 Return on Equity (%) 0.3 9.1 Efficiency Ratio Return on Assets

Profitability Ratio Gross Profit Margin (%) 12.2 26.4 Operating Profit Margin (%) 4.7 19.6 EBITDAR Margin (%) 17.6 29.1 Net profit Margin (%) (0.5) 10.4 Return on Equity (%) (0.4) 9.2 Efficiency Ratio Return on

Current Ratio (Time) 1.7 1.9 Quick Ratio (Time) 3.5 4.5 Collection Period (Day) 25.6 25.8 Stock Turnover Period (Day) 6.9 6.4 Payment Period (Day) 34.3 35.2 Profitability Ratio Gross Profit Margin (%) 11.4

(Day) 34.2 34.3 Profitability Ratio Gross Profit Margin (%) 11.2 11.4 Operating Profit Margin (%) 4.4 3.5 EBITDAR Margin (%) 15.1 16.3 Net profit Margin (%) 0.9 3.0 Return on Equity (%) 0.9 2.8