cost over the long term, which will in turn help reduce costs within the economic system.. Within this context, KBank and K Companies accentuate enhancement of our business capabilities to achieve

Value (NRV) 9 0 10 0 (1) (10) (7) (0) 16 (229) Product to Feed Margin 906 23 912 28 (6) (1) 928 18 (22) (2) Variable Costs (386) (10) (486) (15) 100 (21) (411) (8) 25 (6) Fixed Costs (181) (5) (177) (5

) (1,534.44) 511.79 33.35 Gross Profit (Loss) (65.56) 28.36 (93.92) (331.17) Sales & Administration Expenses and Financial Cost and Tax Expense (107.46) (108.80) (1.34) (1.23) Net Profit (Loss) (156.50) (72.32

maintained both YoY and QoQ.  Other costs of service were Bt1,537mn decreasing 3.7% YoY and 0.1% QoQ. 1Q17 MD&A Advanced Info Service Plc. 3 SG&A expenses were Bt5,439mn decreasing 33% YoY and 32% QoQ mainly

% 13.5% EBITDA 444 507 501 -1.2% 12.9% EBIT 333 384 380 -1.1% 14.1% Interest expenses 25 15 18 18.6% -27.8% Tax 83 82 76 -7.3% -8.6% Net profit1 202 261 260 -0.4% 28.8% Gross profit margin 60.4% 63.6% 55.5

EBITDA as well as increased share of profit from joint ventures and lower finance costs. • Total assets as of 31 December 2019 stood at THB 53,531mn, decreasing by 0.8% or THB 429mn from 31 December 2018

income 219 146 50.2% 127 72.5% Gross profit 2,367 2,214 6.9% 2,320 2.0% SG&A 1,538 1,322 16.3% 1,446 6.3% Selling and distribution expenses 1,050 884 18.8% 1,002 4.7% Administrative expenses 488 438 11.2

) (25.72) (403.97) (29.57) Profit before finance costs and income tax expenses 265.52 14.55 323.21 16.68 334.53 17.34 283.88 18.85 206.46 15.11 Finance costs (127.37) (6.98) (89.19) (4.60) (132.51) (6.87

higher cost of goods sold. Administrative and Selling Expenses Selling, general, and administrative expense as a percent of sales increased slightly to 12.9% in 2018 compared to 12.8% the previous year

to sales decrease in the UK, Switzerland and China restaurants In 2018, the Company and its subsidiaries’ costs of sales and services rose to THB 4,274 million, equivalent to 56. 2 percent of the