performance on the positive side was the higher volumes (due to both market demand and the acquisition of Saraburi Quicklime) which was the main driver behind a nearly 50% increase in revenues compared to Q3

482mn mainly due to the aforementioned consolidation which was the main driver in increasing the cost-to-sales ratio from 57.8% to 64.5% in this quarter. VGM’s cost structure is higher than MACO’s

the full-quarter consolidation of International Advertising segment, which was the main driver in increasing the cost-to-sales ratio from 62.1% to 88.6% in this quarter. VGM’s cost structure is higher

the worst impacts, the partial lockdown in April and May, and the lack of tourism as a driver of the economy, while not directly impacting our business, had a measurable effect on some of our customers

higher value product range are the main driver for higher revenue. We report growth in all our key markets; Thailand, Portugal and China grew 3.6%, 7.1% and 12.7% year-on-year respectively. 2) Car

airtime, mobile data, international roaming (IR), international direct dialing (IDD), and other digital solutions. The main growth driver was from increasing 4G-user penetration which continued to grow to

received approval to renovate street furniture media on BTS columns, which is expected to be a key growth driver for 2019. January • Continued the process towards digitisation by replacing static billboards

driver. 9M’19 Energy drinks market continued its growth momentum of 6.3%, and our market share maintained at 53.5%, aligned with our mid-term guidance, by using multi-brand portfolio and consumer-centric

main driver in increasing the cost-to-sales ratio from 53.1% to 64.4% in this year. VGM’s cost structure is higher than MACO’s domestic business due to higher expenses from concession in Transit and

% YoY, in line with the guidance. The main driver for strong growth came from an increased subscriber in both postpaid segment and fixed broadband.  Mobile revenue reported Bt130,062mn, increasing 4.2