respectively, and the gross profit margin is 19.11 per cent and 26.34 per cent respectively. Which the gross profit has decreased from new business that started operation in 2018, and the cost of sales on sales

Unicorn Enterprises Limited (EBT of UE) • EBITDA and EBITDA margin were THB 131.6mn and 9.0% respectively, lower from the same period last year due to higher operating expense and a rise in selling and

tons) 139 382 HRC Average Selling Price (Bht/Ton) 19,160 20,939 HRC Cash Margin (Bht/Ton) (58) 1,927 Unit : million Baht 31-Mar-19 31-Dec-18 Total Assets 28,560 30,632 Total Liabilities 19,262 20,532

คิดเป็นอตัราก าไรจากการด าเนินงานก่อนตน้ทุนทางการเงินและภาษี (EBIT Margin) ท่ีร้อยละ 28.6 และมี EBITDA จ านวน 422.7 ลา้นบาท ลดลง 79.3 ลา้นบาท หรือร้อยละ 15.8 คิดเป็น EBITDA Margin ท่ีร้อยละ 44.5 ทั้งน้ี

21.8% 89.0% EBITDA 100 103 115 11.4% 14.7% Net profit from operation 49 39 38 -2.9% -22.3% Net profit (exc. Minority Interest) 62 33 39 19.0% -36.9% Gross profit margin 61.0% 33.7% 37.9% EBITDA margin

by 29.8% YoY to THB 2,233mn mainly from the expansion of the hotel business through new hotel launches and through new acquisitions • EBITDA and EBITDA margin were THB 509mn and 22.8% respectively

cost 208.1 58.7 254.5% 193.3 7.7% Reported Net Profit/Loss (132.4) 26.8 N.A. 0.9 N.A. GOP margin (%) 61.2% 68.5% 62.5% EBITDA margin (%) 16.0% 37.3% 24.3% Operating EBITDA margin (%)* 17.8% 53.3% 23.7

margin (%) 62.8% 64.6% 61.2% EBITDA margin (%) 21.6% 5.9% 18.4% Operating EBITDA margin (%)* 21.6% 5.9% 18.4% Net profit margin (%) (14.2)% (21.7)% (5.5)% * Excludes impairment charges, profit/loss from

high profit margin and also from effective marketing policy. (2) Analysis of Operating Results and Profitability (2.1) Revenues from Sales and Services Description Year 2018 Year 2017 Increase

% (24.7) N.A. Finance cost 132.5 254.8 (48.0)% 458.2 (71.1)% Reported Net Profit/Loss (387.5) (880.5) (56.0)% (253.7) (52.8)% Recurring Net Proft/Loss* 10.5 (63.7) N.A. (253.7) N.A. GOP margin (%) 63.4