estimates by research tends to vary to some degree. The company has therefore decided not to carry out such analysis going forward. Nonetheless, reflecting on its market share, VGI estimated that in 2017 its

STRATEGIC UPDATES ADVERTISING PAYMENT LOGISTICS Transit & Office Outdoor Airport Activation Offline & Online Payment Market Place Micro Loan Smart Delivery 1) ADVERTISING - BUILDING AN INTERNATIONAL NETWORK

profit margin decreased to 25.2% due to the lower revenue base.  Share of loss from investments in JVs and Associates was THB 22mn owing to the performance of Master Ad Public Company Limited as its

30.9% YoY mainly due to the lower demand for advertising and marketing campaigns. o o  Share of loss from investments in JVs and associates was THB 53mn owing to the performance of both domestic and

includes Transit, Outdoor and In-store media with a market share of 12.9%, resiliently increased by 2.6% YoY to THB 3,394mn. OOH media continues to benefit from the structural shift in the media industry

segment Transit media Office and Other media segment Outdoor media segment Digital services segment cost of sales gross profit gross profit margin VGI PUBLIC COMPANY LIMITED Selling, general and

of THB 100 per share, equivalent to 50 percent of the total shares of Hello LED https://market.sec.or.th/public/idisc/Download?FILEID=dat/news/201912/19124764.pdf 19102257.pdf billboard, and digital

share, declined by 25.5% YoY to THB 3,418mn. Nevertheless, Out-of-home media, which includes Transit, Outdoor and In-store media (collectively, “OOH”) bucked the trend, increased by 12.7% YoY to THB

. Mostly are transportation and goods in transit insurance expenses. Administration Expenses The company’s administration expenses for the 3rd quarter of 2015 ended as of September 30, 2015, was THB 16.53

% from selling expenses the amount of THB 15.24 million in the 2nd quarter of 2014. Mostly are transportation and goods in transit insurance expenses. Administration Expenses The company’s administration