to Baht 1,677 million. The decline was mainly due to the decrease in revenue from EMS and Smart service businesses. The Group’s profit for the first quarter of 2020 amounted to Baht 81 million, which

VS. 2017] FX: THB/USD 30.7810 32.0754 33.7691 FX: THB/EUR 34.2753 37.7340 37.7119 Sales Revenue 12,097.4 13,982.5 -13.5% 14,195.4 -1.5% [ Sales Revenue, USD $393.0 $435.9 -9.8% $420.4 +3.7% ] Cost of

increase 202% from 1H2016 result. 1. RESULTS OF OPERATION FOR 2Q2017 Consolidated Financial Statements 2Q2016 2Q2017 Increase/(Decrease) Baht million Baht million Baht million % Revenue from Sales and

profit from EMS business and retail business. As a result, overall net profit increased. Analysis of revenues EMS business In 2Q17, the Group generates revenue of Baht 553 million from EMS business, which

details as follow; unit: million baht Items 2017 2018 Changes Amount % Amount % Amount % Revenue from sales of goods 256.62 100 333.34 100 76.72 29.90 Cost of sales of goods 196.30 76.49 258.33 77.50 62.03

and Analysis For the 1st Quarter Ended 31 March, 2019 Page 3 2. Operation performance according to consolidated financial statement Unit : Million Baht 2019 2018 Revenue from sales and rendering of

: Executive Summary The operating results of the first quarter of 2019, for the three-month period ended March 31, 2019 (“Q1 2019”), the Company generated total revenue of 794 million Baht; or decrease of 36

1 Forth Smart Service Public Company Limited (FSMART) 2Q19 Management Discussion and Analysis Operational Summary in 2Q19  Net profit was Bt145mn, decreasing 3.4%YoY  Total revenue from core

increased, with the amount collected from bad debt written off which was recorded as revenue of 20 million Baht. The overall NPL ratio of the Company was 4.44% in Q2 of 2019. In the operational direction for

and Analysis For the 1 st Quarter Ended 31 March, 2018 Page 2 2. Operation performance according to consolidated financial statement Unit : Million Baht 2018 2017 Revenue from sale and rendering of