/Interest expense Dusit Thani PLC Management Discussion and Analysis 3Q18 and 9M18 P a g e | 9 Profitability ratio remained resilient in 3Q18, showing improved EBITDA margin and net profit margin. Liquidity

operating profit before provision expense and income tax expense also decreased Baht 2,079 million, or 8.68 percent, over-quarter, due to a decrease of Baht 2,550 million or 6.28 percent in net income

รด้อยค่ำสินทรัพย์ (write-off/impairment) รำยได้ (ค่ำใช้จ่ำย) ท่ีมิได้เกิดขึ้นเป็นประจ ำ (one-time income/expense) ฯลฯ Kanyaphat_p Highlight Kanyaphat_p Highlight Kanyaphat_p Highlight Kanyaphat_p

% 153,475 10% Total expenses 3,267,262 148% 3,931,256 230% 852,869 57% Share of profit (loss) of associate 1,080 - 70 - (3,889) - Profit (loss) before income tax expense (1,159,843) -48% (2,220,337) -130

4.7% in the corresponding period last year, due to the same reasons mentioned above. Also, the Company had recognized an additional expense of THB 9 million regarding the new labour protection law to

) loss on devaluation of inventories 160 40 (300%) Total cost of sale 3,303 8,705 62% Selling expenses 43 109 61% Administrative expenses 130 112 (15%) Bad and doubtful debts expense 0 64 (100%) Loss on

months period ended June 30, 2019 and 2018, the company has selling and administrative expenses in the amount of 30.48 million Baht and 67.82 million Baht respectively (this expense includes damages from

sale weight and selling price. In addition, there is a one-time expense for big maintenance of forming machines for the purpose to use them in long-term. As a result, gross profit decreased in the

will be at least THB 1,300.00 million and not exceeding to THB 1,503.80 million (exclusive of value added tax, fee and expense for ownership transfer). The value of sub- leasehold right will be

6 2,714 2,915 (201) (7%) Deferred income (expense) tax (306) 46 (1) - (307) 46 (353) (767%) Profit (Loss) before the effects of foreign exchange and lease income 2,398 2,955 9 6 2,407 2,961 (554) (19