2019 2018 YOY % Operating profit 457.27 403.89 53.38 13.22% Depreciation 124.10 100.14 23.96 23.92% Amortization 78.25 73.92 4.32 5.85% EBITDA 659.62 577.96 81.66 14.13% 2. ECONOMIC SITUATION Thai

. Including uncertainty from the US economic policy Therefore, the overall of the world economy is growing at a slower rate. While the Thai economy continues to grow at a slow rate as well Although the economy

adversely affected by the compliance with the new Thai Financial Reporting Standard 15 (TFRS 15) regarding revenue from contracts with customers for the first time which is effective since 1 January 2019

, Rama 2, Ngamwongwan, Rama 5, Bang Yai, Nawamin, Saphanmai, Seri Thai, Phetchaburi, Ram-Intra KM. 10 and Salaya. Other provinces /3 Total 11 branches have been operated since year 2016: Nakorn Panom

amount of 36 Million Baht in compliance with Thai Accounting Standard No.37. 5 However, this transaction would be review quarterly until the end of project and would be reversed if the company is able to

project is currently in the stage of demolishing the office buildings (Olympia building and Thai Life Insurance building) and commercial buildings on the additional land adjacent to Dusit Thani Building

previous year, compared with the net profit of Baht 176.56 million in previous year. The overall increase in sales is due to the recovery of the Thai economy in 2017, driven by strong tourism, exports and

DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q2/2018 2 2. ECONOMIC SITUATION Thai economy for the 5 months ended May 2018 continually expanded, supported by

Thai Police Office for procurement of 1,482 camcorder cameras on the police stations. Retail business The Company had gross profit for the second quarter of 2018 amounting to Baht 230 million, which was

profit from Thai Solar Renewable Company Limited (TSR) dropped by Baht 15 million from Q2/2018 due to less solar intensity throughout Q3/2018 and decreased by Baht 13 million from Q3/2017 because of