) Directors’ remunerations 2 1 100.0 2 0.0 3 9 (66.7) Premises and equipment expenses 54 53 1.9 57 (5.3) 107 111 (3.6) Taxes and duties 92 110 (16.4) 151 (39.1) 201 439 (54.2) Impairment loss on properties for

% 154 148 4.1% Premises and equipment expenses 3,029 2,254 2,736 34.4% 10.7% 10,467 10,252 2.1% Taxes and duties 853 820 840 4.0% 1.5% 3,367 3,357 0.3% Other expenses 3,298 3,254 2,865 1.4% 15.1% 12,403

’ remuneration 56 22 53 154.5% 5.7% 167 154 8.4% Premises and equipment expenses 3,463 2,441 3,029 41.9% 14.3% 11,789 10,467 12.6% Taxes and duties 856 843 853 1.5% 0.4% 3,364 3,367 (0.1)% Other expenses 4,796

2,535 13.6% 7.9% 10,252 9,909 3.5% Taxes and duties 840 790 838 6.3% 0.2% 3,357 3,388 (0.9)% Other expenses 2,865 2,271 3,395 26.2% (15.6)% 9,650 11,836 (18.5)% Total operating expenses 13,089 11,938

% Directors’ remuneration 33 56 34 (41.1)% (2.9)% Premises and equipment expenses 2,296 3,463 2,738 (33.7)% (16.1)% Taxes and duties 781 856 816 (8.8)% (4.3)% Other expenses 1,431 4,796 2,050 (70.2)% (30.2

1,184,671 1,312,901 1,252,496 Total expenses 18,939,422 18,078,293 15,892,237 Earnings before taxes 3,437,920 3,084,539 2,664,260 Corporate taxes 567,396 402,107 390,018 Net Profit 2,870,524 2,682,432

residential business of Nirvana Daii Public Company Limited (“NVD”), a 52%-owned subsidiary of Singha Estate, invested in January 2017. In spite of higher revenues, earnings before taxes (“EBT”) declined by 589

expenses has a rate of incremental higher than the increasing rate of the total revenue, then profit from operations before finances cost and taxes (EBIT) was amounted to Bt1,450.5 million, a decrease of

31.60 Gross profit 60.32 23.51 75.01 22.50 14.69 24.35 Other income 2.92 1.14 4.49 1.35 1.57 53.66 Profit before expenses, finance cost and taxes 64.18 25.01 80.53 24.16 16.35 25.47 Distribution costs

associate and joint ventures 16.2 2.3 (50.2) (2.9) (409.9%) Profit (loss) before income taxes 169.9 23.7 (174.5) (10.0) (202.8%) Income tax expenses (34.7) (4.8) (27.4) (1.5) (21.1%) Profit (loss) of the year