caused, revenue from sales of domestic and export decreased about 20% and 12% respectively. Analysis of Profit of company and its subsidiaries The Q1/2018, the company and its subsidiaries have loss for

%. These caused, revenue from sales of domestic and export decreased about 5% and 14% respectively. Analysis of Profit of company and its subsidiaries The Q3/2018, the company and its subsidiaries have loss

Concession Contracts including of the obligation for extensions of the MRT Pink Line Project and the MRT Yellow Line Project with Mass Rapid Transit Authority of Thailand ("MRTA"). The MRT Pink Line Project

from ‘International Advertising’  Expanded our footprint to Vietnam market – the fastest growing economy in Southeast Asia  Net profit excluding minority interest was THB 161mn KEY BUSINESS AND

relatively strong results in 1Q 2018 with an operating revenue of THB 290mn, an increase by 53.1% and net profit of THB 53mn, increased by 42.3% YoY. 2 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD

the TV sector and traditional media have been in decline and is expected to be surpassed by OOH media (Outdoor, Transit and In- store media) and digital/online spending in the near future. Master Ad

caused, revenue from sales of export increased about 6%, revenue from sales of domestic decreased about 5%. Analysis of Profit of company and its subsidiaries The Q1/2019, the company and its subsidiaries

%. Analysis of Profit (Loss) of company and its subsidiaries The Q3/2019, the company and its subsidiaries have loss for the period of Baht 297.0 million as compared to the 2018, the company and its

8.48% comparing to 2017. Cost of Sales and Gross Profit Cost of sales for 2018 was THB 14,263.56 million, an increase of THB 112.64 million or 0.80% up from 2017 while gross profit in 2018 was THB

has the exclusive rights to install and manage 188 advertising panels under 23 BTS stations from Bangkok Mass Transit System Public Company Limited and (2) advertising under flyovers in which the