year (decreased by 3.3 percent from Q4/2019), primarily due to the declining prices of seaweed as main raw materials in the production by 8 percent and the discontinuation of the production line in the

: - Thailand & Indonesia – production at very minimum level despite no closure of business due to most OEMs in Thailand had stopped their production until July 2020. Malaysia – very low production in May 2020

) (55.55) India 160.65 194.38 (33.73) (17.35 Total 2,153.29 2,838.12 (684.83) (24.13) Overall sales revenue decline as an impact of lower production volume due to the lower production in automotive industry

production cost per unit has increased. During 9M19, the Company’s gross profit margin is 36.67% which decreased from 37.52% in 9M18. This is because the customers’ purchase orders had declined, and as a

Q4/2018, inventory loss was THB 2,517 million. In this quarter, the refinery’s average production rate was 110.12 thousand barrels per day, as there was a maintenance of the Hydrocracking Unit’s Gas

Business Group recorded an average production rate of 66.80 KBD (56% utilization rate), which declined, coinciding with the 2018 planned turnaround maintenance TAM (period between 30th April – 13th June

4,520 8,678 Group EBITDA (120) 874 Group Net Profit (Loss) (869) (431) HRC Sales (k tons) 251 419 HRC Production Volume (k tons) 242 606 HRC Average Selling Price (Bht/Ton) 18,029 20,713 Unit : million

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result for the Fiscal Year Ended December 31, 2019 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

factors. Significant factors could include, for example, the impact of inflation, the impact of foreign currency fluctuations, and any governmental economic, fiscal, monetary or political policies or

in the fourth quarter of 2018 (Source: Fiscal policy office). Furthermore, the estimated GDP (Gross Domestic Product) for the whole year 2018 grow at 4.2 percent, compared to 3.9 percent in 2017