higher breakeven point as well as an increase in the unit production cost. Administrative and Selling Expenses Selling, general, and administrative expense as a percent of sales increased slightly to 13.9

Baht 18.48 million Baht 6.19 million 33.50 1.6 Administrative expenses Baht 179.59 million Baht 114.61 million Baht 64.98 million 56.70 1.7 Finance cost Baht 54.06 million Baht 51.93 million Baht 2.13

17.54 80.07 -62.53 -78.09 Cost of services 0.21 3.95 -3.74 -94.68 Cost of sold 0.00 0.36 -0.36 Administrative expenses 13.58 13.89 -0.31 -2.23 Finance cost 2.59 3.58 -0.99 -27.65 33.92 101.85 -67.93

it was also a consequence of the administrative expenses in Q2–2018, which was similar to Q2–2017, which those were a fixed cost that continues to occur even if the revenue was decreased. As a result

%) Administrative expenses (94.34 ) (95.86 ) (1.52 ) 1.59% (53.71%) (32.40%) Other Expenses Loss on cancel of joint venture agreement - (25.50 ) 25.50 (100.00%) 0.00% (8.62%) Impairment loss of land held for

baht from the previous quarter. Administrative and Selling Expenses Selling, general, and administrative expense amounted to Bt421.8 million in 3Q19, or 13.7% of sales, a decrease from Bt463.7 million in

-17.11 -6.90% 67.95% 67.19% 230.63 247.59 Cost of sales 30.74 41.60 -10.86 -26.11% 9.05% 11.27% Administrative expenses 38.02 40.40 -2.38 -5.89% 11.19% 10.95% Financial costs 30.93 26.48 4.46 16.83% 9.10

1.27 N/A 0.58% 0.00% Distribution costs (41.75 ) (24.14 ) (17.61 ) 72.95% (19.11%) (13.74%) Administrative expenses (95.74 ) (94.34 ) (1.40 ) 1.48% (43.82%) (53.71%) Other Expenses Impairment loss of

83.8 4,139.24 83.1 -267.70 -6.5 Gross profit(1) 706.79 15.4 810.47 16.4 -103.69 -12.8 Selling and administrative expenses 464.12 10.0 453.42 9.1 10.69 2.4 Other expenses 0.10 0.0 3.05 0.1 -2.95 -96.6

decline in the price of copper used in the production process helped reduce the cost of goods sold, despite an annual adjustment in selling price. Administrative and Selling Expenses Selling, general, and