lower than the decreased rate in revenue, since the rest of equipment for lease project had a quite low gross profit margin and a higher equipment maintenance expense. Summary of Operation for Q4-2018

baht 10,474 12,123 12,547 Gross profit margin (%) 20.47% 22.84% 25.49% ratiosConsolidated financial 2019 2018 2017 Financial data and profitability ratios (continuous) Operating expense (including

% 162.32 20.8% 163.68 21.4% 0.8% 1.9% 658.03 19.7% 660.86 21.0% 0.4% Income tax expense (19.07) -2.3% (18.59) -2.4% (18.20) -2.4% -2.1% -4.6% (77.22) -2.3% (77.65) -2.5% 0.6% Net profit 141.64 17.3% 143.73

amount of Baht 24.13 million or 32.88% as follows: 9 .1 Employee benefits expense increased in amount of 9.95 million Baht. This came from increment of number of staff to support new incoming projects. 9.2

expense has decreased due to the lower net result. Net income was down significantly due to the reduced revenues and increased finance cost which will reduce in 2020 as long-term loans are repaid. Golden

11.40 million baht or 2.38%, due to the severance pay as the Labor Protection Act (No.7) B.E. 2019. • Selling expenses decreased 1.58 million baht or 4.13 % and the administrative expense decreased by

million baht or 3% from last year. This was as a result of an increase in personal expense by 4% caused by increasing employment of the Company’s subsidiaries, increases in rental cost of the Company’s

number of days in Q2/2017 than in Q1/2017. Also, when comparing Q2/2017 to Q2/2016, the depreciation and amortization expense increased by Baht 10 million or 3%. The increase is mainly from the COD of CHPP

period For the period of three months ended 30th June 2017, the Company and its subsidiaries had profit before interest and tax of Baht 75.54 million. After deducting the financial expense of Baht 1.64

addition, cost of service also increased in relevant to the opening of the projects. Moreover, financial cost decreased due to the prepayment fee from re-financing which recognized as expense total Baht 212