from operation 104 226 118.2% Net profit (exc. Minority Interest) 102 221 116.5% Gross profit margin 55.1% 58.2% EBITDA margin 23.5% 37.3% NPAT margin (from operation) 14.1% 24.3% NPAT margin (exc

0.4% 34.3% EBITDA 248 444 372 -16.2% 49.9% Adjusted EBITDA1 273 451 433 -4.1% 58.2% EBIT 151 333 260 -21.7% 72.7% Interest expenses 10 25 22 -10.7% 116.6% Tax 47 83 37 -55.4% -20.4% Net profit2 126 202

million, decreased by THB 18.06 million or 38.78% down from 1Q2018 mainly from higher selling price of chicken parts for domestic market. Financial Costs Financial costs of the group include the interest

the past year, which required additional debt financing, leading to higher interest expense. Reported share of loss from associates/JVs was THB 23mn, largely due to a share of loss THB 30mn from Sansiri

million or 75.16% up from 1Q2019 mainly from higher production capacity of cooked chicken products from new further processing factory. Financial Costs Financial costs of the group include the interest paid

TFRS16 implementation (THB 106mn), partially offset by a net loan repayment which benefited the Company in reducing the interest costs. Net loss was THB 1,213.1mn and net profit margin was (230.8

of Thailand cut the ceiling rates of interest rates on credit card from 18% to 16% per annum and personal loan from 28% to 25% per annum, effective from August 1, 2020 onwards. On the other hand, our

instruments where applicable. Finance cost was Bt1,320mn, decreasing -4.8% YoY and -3.4% QoQ from lower interest-bearing debt. The average cost of borrowing remained stable at 2.6% per year. Profit In 1Q22

declined -2.7% mainly from decrease of long-term lease liabilities and spectrum license payable. Interest- bearing debt stood at Bt87,190mn, decreasing slightly by -0.7%. Net debt including lease liabilities

%) (18.5%) 69.8 63.6 (8.9%) ChangeChange Finance costs comprise of interest expense from loans for the new investment projects, amortization of prepaid transaction cost of borrowings and interest expense