THB 1,689 million, increased by THB 104 million or equivalent to 6.5%, due primarily to our one-time recognition of certain unrecognized tax expenses from the prior period arising from one of our

and 2018 were THB 10,872 million and THB 11,090 million, respectively, a decrease of THB 218 million or 2.0%, mainly due to higher recognition of depreciation. 5. Goodwill Goodwill arises from the

-Café 2 Catering / Pop-up 3 4 1 Franchise Fee Income 4 • Revenue recognition of initial franchise fee • *Actual franchise fee recognized in Q4/2019 was THB 0.9 million Management Discussion & Analysis YE

, largely as a result of price increases, especially in our static media network. Moreover, this business segment has benefited from the recognition of synergies from Rabbit Group through a “Station

company’s tax saving in Q2/2016. Meanwhile, electricity profit was increased by recognition of operating performance of SEGSD. Page 13 Other Subsidiaries in Power Generation business: Unit : Million Baht

to its turnkey business, the revenue recognition is performed based on percentage of completion method which may deviate from the payment plan according to the contractual conditions. As a result

a near-zero margin contribution. This will partially be offset with a full- year recognition of payments to TOT for the use of spectrum, towers, and equipment. Overall, we expect the consolidated

Receivables Due to its turnkey business, the revenue recognition is performed based on percentage of completion method which may deviate from the payment plan according to the contractual conditions. As a

Bt613mn increasing 39% YoY mainly due to a revenue recognition of expired cash cards and other fines. Finance cost was Bt5,302mn increasing 25% YoY due to the deferred interest from spectrum licenses

enterprise solution following digitization trend. Revenue from interconnection charge (IC) and TOT partnership reported at Bt3,494mn, decreasing -18%YoY due to one-time revenue recognition in 3Q19 from the new