89.17 million which increased by 196.84% comparing to the net profit of Baht 30.04 million recorded in 1H17. The clarification of the Company operating results is as follows: Revenues from Sales In the

of the sales revenue. The ratio of gross margin per sales revenue is decreased by 0.7 percent from that of the same period of the previous year. Should the utilization of the production capacity in the

Sales and services 629.5 621.1 8.4 1.4% Sales of food & beverage 533.1 491.9 41.2 8.4% Total Sales 1,162.6 1,112.9 49.7 4.5% Gross Profit 228.0 191.5 36.5 19.1% Net Profit/(Loss) for the year (278.9

Company has a gross margin for the year 2018 in total of 1,729.9 million Baht or equal to 30.5 percent of the sales revenue. This was due to the fact that the Company recognized costs of production, such as

February 18, 2020 Re: Management Discussion and Analysis for full year 2019 To: Director and Manager of the Stock Exchange of Thailand Revenue from sales and rendering of services L&E’s consolidated

/19”) sales revenue of Baht 3,199.32 million. The drop in sales revenue was mainly as a result of significant drop in Total Industry Volume (“TIV”) and Total Industry Production (“TIP”) for Thailand

revenues from sales, lower expense and higher gross margin: details as follow. The Company recorded lower sale volume in Q3/2018 mainly due to raw material availability problem. For the three-month period

stability of VCM production, and more balance of ECH market. Analysis of Cost and Expenses 1. In Q1 2018, Cost of sales was 4,159 MTHB, increased by 485 MTHB comparing to 2017 or 13.2% due to the increase of

gross margin to sales decreased by 3.6 percent mainly from the seaweed cost increase by more than 20% as the quantity of seaweed production in China in the production cycle of the year 2017 decreased by

4th quarter of 2018). The proportion of gross profit per sales increased due to control of loss from production, the development of the employee’s skills in the production line and the decrease cost of