revenues from sales EBIT margin (%) = (Profit before income tax expense + Finance Cost) / Total revenues from sales EBITDA margin (%) = (Profit before income tax expense + Finance Cost + Depreciation and

cost following the widened average DTD/DB spread. Further, crude oil price significantly drop during the year end, led to the refinery business to record Inventory Loss of THB 1,489 million Management

quarter. Moreover, the company has planned and started preparation to improve machineries in order to ramp up the production during the on-peak period to gain more market share and reduce production cost to

% Amount % Amount % Sales and services 3,586.96 99.90% 3,586.39 99.97% (0.58) (0.02%) 11,259.16 99.95% 10,336.49 99.96% (922.67) (8.19%) Cost of sales and services 3,289.04 91.60% 3,271.76 91.20% (17.28

revenue 792 852 978 14.9% 23.5% Cost of sales 326 356 387 8.8% 19.0% Gross profit 466 496 591 19.2% 26.7% EBITDA 320 352 444 26.0% 38.8% Adjusted EBITDA1 324 361 451 25.1% 39.2% EBIT 236 251 333 32.5% 41.3

and unemployment problem as improve from the government measure, such as ameliorate cost of living. In particular, the adjustment to the minimum wage in past. As a result in the year 2018, the Group has

, and (2) the Company recorded the doubtful accounts on long-term loan to joint ventures of 910 million Baht in the same period last year. In Q2 2018, the Company had finance cost of 198 million Baht

(41.3) (34.5) 19.7% Share of Profit from Investments in Associates and Joint Ventures (138.6) 339.2 -140.9% Finance Costs (105.1) (76.9) 36.6% Income Tax (Expense) (34.3) (6.3) 442.2% Net Profit

) (60.67%) Finance cost 19.80 0.19% 9.75 0.09% (10.05) (50.74%) Profit before income tax expenses 170.55 1.65% 218.81 2.04% 48.26 28.29% Tax expense 34.02 0.33% 38.81 0.36% 4.79 14.08% Profit for the period

47.7% in 2019 due to (1) the cost of food and beverages of new brands, in particular Khiang, requiring promotional discounts to increase traffic and create brand awareness during the initial opening