3Q2016 predominantly from cost advantage from lower major feed material price and the growth in chicken export volume. In addition, the consolidated EBITDA in 3Q2017 was THB 896.18 million, an increase of

increased by Baht 129 million or 19% because of the increase in selling price resulted from the increase in the Ft rate as well as the Weight factor in conjunction with the low cost of natural gas when

affected company's results of operations include (i) coal price and gas price that continued to drop further from previous quarter resulting in lower costs of sales and (ii) COVID-19 pandemic. Based on our

to remain at the same rate if there is no significant change in natural gas price and the appreciation in Thai Baht. However, during September and December of 2018, Ft rate is expected to be adjusted

Summary Financial Ratio 2016 2015 2014 LIQUIDITY RATIO Liquidity Ratio Times 3.90 3.46 3.24 Quick Ratio Times 3.50 3.09 2.73 Current Ratio Times 1.33 1 1.02 Account Receivable Turnover Times 7.48 7.52 6.52

as it was necessary for customer-base expansion in dialysis solution segment to adjust selling price in order to be competitive with competitors in the same market. As a result, 2017 has gross margin

selling price of processed food for domestic market. GFPT Public Company Limited Interim Management Discussion and Analysis for the 3rd Quarter 2019 Page 4 of 13 Cost of Sales and Gross Profit Cost of sales

of the virus has caused demand for consumption of fuel around the world to decline with significance. This factor is putting pressure on the price of crude and finished product to drop significantly

every finished product and crude oil price crack spreads, with supporting factors ranging from the maintenance of various refineries in North Asia, as well as concerns over supplies tightening after the

Ratio 1 (times) 1.63 1.54 1.81 Quick Ratio 2 (times) 0.53 0.37 0.57 Cash Ratio 3 (times) 0.67 0.68 0.80 Account Receivable Turnover 4 (times) 17.65 17.27 17.78 Average Collection Period 5 (days) 20 21 20