fluctuations, and the increase in revenue from sale of electricity following greater irradiation. - Sales income SAAM Group’s income from sale of electricity is generated from a 2.0 MW solar power project in

QoQ YoY 9M’17 9M’18 +/(-) 1. Revenue from sales and contract work 1.2 0.9 5.1 466.7% 325.0% 2.4 7.3 204.2% 1.1 Turnkey Total Solutions 1.2 0.9 5.1 466.7% 325.0% 2.4 7.3 204.2% 2. Revenue from services

Remark Sales and Services Income 686.15 582.93 103.22 17.71% - LPG Trading 195.57 186.44 9.13 4.90% 1 - Transportation 4.18 4.00 0.18 4.50% - Conversion Kit Installation 0.37 0.68 (0.31) (45.59%) 2

from sales & service 719.81 853.77 -133.96 -15.7% Other income 5.57 6.29 -0.72 -11.4% Total revenue 725.38 860.06 -134.68 -15.7% Cost of goods sold & service 638.35 743.25 -104.90 -14.1% Selling expenses

, Thailand Tel (035) 350 880 Fax (035) 350 881 Website: www.aapico.com Management Discussion and Analysis for the 3rd quarter of year 2024 2 Total revenue decreased by 15.1% year-on-year. Sales and service

. Despite increased fuel cost, cost of sales and services were kept in line with the revenue growth. Like in Q3 the impact of a lower US dollar affected the export sales price in Thai baht. The reduction in

for the third consecutive year from mid-November to early December. The performance of the Company and its subsidiaries continued to grow, recording total revenue and profit at baht 64,234.49 million

net profit amount of Bath 105.72 million or Baht 46.49 million decreased which details are as follows; (1) Revenue from sales In 2018, the Company and its subsidiaries had total revenue from sales at

quarter of 2018, the Company recorded sales income in an amount of 7,680.26 million baht while the same period last year the Company recorded sales income, in an amount of 9,201.51 million baht, decrease of

of last year. The details are as follows: - The revenue from sales and service totaled 114.09 million baht, down by 7.23 million baht or 5.96% from the same period of last year. The decline was due to