654 252 651% (62%) Performance without non-operating items 1 Adjusted EBITDA 282 148 280 (1%) 90% Note: 1 includes gain (loss) from foreign exchange rate, professional fees in relation to M&A activity

: Thousand Baht) Items 30 September 2019 31 December 2018 Increase (Decrease) % Net Assets 6,143,748 6,724,090 (580,342) (8.63) Net Liabilities 2,085,840 2,078,079 7,761 0.37 Shareholders’ equity 4,057,909

Pharma Ltd. took effect as from September 1, 2018). Besides, some expense items decreased by a total of around Baht 14 .5 million in 2019, comprising sales promotion expense, cost of exhibition booth

ratio was of 1. 21:1 time and the Interest bearing debts to total equity ratio was of 0. 98:1 time. The liabilities comprised of major items which follow;- 2.2.1 Account payable and others account payable

, 2018). Besides, some expense items decreased by a total of around Baht 14 .5 million in 2019, comprising sales promotion expense, cost of exhibition booth display, cost of sample products, expense on

, 2018). Besides, some expense items decreased by a total of around Baht 14 .5 million in 2019, comprising sales promotion expense, cost of exhibition booth display, cost of sample products, expense on

increased expenses related to the acquisition of SGAH. Apart from these extraordinary items, net profit improvement was also attributed to increased share of profit from associate companies, mainly Hyundai

81.0 million, or 72.0% yoy. Dusit Thani PCL Management Discussion and Analysis For the 2nd Quarter 2017 P a g e | 5 Financial Position The significant items in the consolidated statement of financial

amount of Baht 70.40 Million; and 2. Reverse of doubtful debts in the amount of Baht 62.94 Million. If the aforementioned special items are excluded, the Company will loss on operating in the amount of

amount of Baht 70.40 Million; and 2. Reverse of doubtful debts in the amount of Baht 62.94 Million. If the aforementioned special items are excluded, the Company will loss on operating in the amount of