and Expense Structure Cost of Hospital Operations(excl. depreciation) 479.7 446.8 32.9 7.4% 241.8 228.0 13.8 6.1% Depreciation Cost 35.4 25.7 9.7 37.6% 17.9 12.9 5.0 38.5% Cost of Services 45.4 37.7 7.7

domestic sales 24.2% and export sales 75.8%. Gross profit was down from 33.6% to 25.8% due to low margin sale to B2B coupled with the increase in raw material and energy costs. Total expense was Baht 504.6

& income tax expense (26.12 ) (94.80 ) 68.68 0.72 finance cost 36.12 22.30 13.82 0.62 Profit (loss) before income tax expense (62.24 ) (117.10 ) 54.86 0.47 Tax income (expense) - - - N/A Profit (loss) for

instituion which occur from intercompany transactions. Tax Expense For the 3rd quarter of Year 2018 and 2019, tax expense were in amounts of Baht 1 .7 6 million and Baht 2 .6 4 million respectively, increasing

% 2.14 2.46 14.95% Earnings before Interest and taxes 14.77 49.12 95.17 544.35% 93.75% 86.21 144.29 67.37% Financial expense (0.61) (0.56) (0.38) -37.70% -32.14% (1.11) (0.94) -15.32% Profit before income

% Financial expense (0.54) (0.61) (0.42) -22.22% -31.15% (1.76) (1.53) -13.07% Profit before income tax expense 70.74 14.15 40.93 -42.14% 189.26% 166.60 126.03 -24.35% Income tax expense (3.20) (0.24) 0.53

its subsidiaries had the selling expenses of 22. 3 MB in Q3/ 2019, which increased from Q3/2018 by 0. 8 MB or 3.6 percent ( 21. 5 MB in Q3/ 2018) as result from the higher in travel expense

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 2/2020 09 - Refinery & Trading 14 - Marketing 16 - Power Plant 18 - Bio-based Products 20 - Natural

administrative expense to support business expansion. Without the non-recurring profit related to sale of Dusit Princess Korat, core EBITDA was THB 806 million, a 12.3% decrease from 2016. The Company reported net

forecast. Exports of goods would decline in line with trading partner economies and potential impacts of regional supply chain disruptions.*  However, the Company sees that the lower interest rate also