DISCUSSION AND ANALYSIS FOR Q2/2017 3 Raw Water Volume (Million Cu.M) 1H/2016 1H/2017 Increased (Decreased) % Total distribution volume 148.70 136.99 (11.71) (7.87%) Internal usage for tap water 15.40 15.94

rent to variable rent, and instead requiring the fund/trust to disclose to investors what is the minimum fixed rent of an asset; (3)   Amending the rule on the distribution of benefits or dividends to

of this products of the company to decrease. However, the company has increased online distribution channels as a choice for new generation customers. It is expected that the domestic market will

the Company has increased distribution channels to export content since the second quarter of 2018. Costs of program rights business mainly consist of amortization, dubbing and translation costs. For

million or accounted for 68.45% and 31.55% of total revenue from program rights, an increase of THB 324.08 million or 24.59% from last year, resulting from the Company has increased distribution channels to

329.68 5.28 Selling and distribution expenses 68.89 63.23 8.95 66.19 4.09 216.39 195.29 10.81 Administrative expenses 42.17 46.09 -8.50 58.55 -27.98 130.69 134.40 -2.76 Earnings before interest and taxes

to increase sales by adding more distribution channels such as online, TV Home Shopping, participation in Trade Fair, B2B sales, etc. In the first quarter of 2018, other income increased by 23.5% YoY

. However, the Company has continued to expand new distribution channels such as Pop-up Store, Mini Shop at HQ Rama 9, and E-commerce. The Company arranged marketing activities to draw customers and to

related with operating result (%) For the period ended Change 31 March 2019 31 March 2018 Gross profit margin (%) 41.47 41.99 (0.52) Distribution costs and administrative expenses to total revenue (%) 44.79

summary as follows:- 1. Nature of operations of the Group The Group has principally engage in distribution of product and equipment, design, assembly and installation, and maintenance service of pure water