Cost of Goods Sold 194.11 204.16 217.04 12.88 6.31 22.93 11.81 Gross Margin 18.39 47.04 54.53 7.49 15.92 36.14 196.47 Admin Expenses 10.24 26.47 26.92 0.45 1.70 16.68 162.99 Selling Expenses 2.99 11.70

/service and Gross Profit Margin The company recorded cost of goods sold of 178.86 million Baht for the first quarter of 2020, increased by 18.53 million Baht or 11.56% from the same period of the last year

Public Company Limited, VGI recognised net gain from extraordinary items of THB 143mn  Net profit margin reaching 35.6%, while operating profit margin was 32.0% in 2019/20. KEY BUSINESS AND STRATEGIC

locations across the country. In terms of Net Marketing Margin, it declined from the previous year resulting from crude oil price in the global market increased during Q1/2019 and Q4/2019, and B100 product

foreign currencies forward contact. 4 Management Discussion and Analysis of Business Operation for Q1/2020 Bangchak Corporation Plc. | The Refinery and Oil Trading Business recorded Gross Refinery Margin of

profit by THB 18.9 million was decreased by THB 11.2 million. The gross profit margin for this quarter represented at 10.2%. For the six-month period, the Group reported total revenues (excluded other

was decreased by THB 26.7 million or 13.1% whereas the gross profit was increased by THB 5.2 million. The gross profit margin for this quarter represented at 17.0%. For the six-month period, the Group

tax expenses (revenues) 1.32 0.48 0.84 175.00% Net profit 112.11 54.54 57.57 105.56% Gross profit margin 62.21% 62.82% Net profit margin 47.84% 45.82% 1. Revenues from sales The Company recorded

decrease was derived from engineering service, solar energy, and Trading business. • Overall gross profit margin decreased from 13.3% to 9.1% amount Baht (24.09) million. 2019 2018 Revenue 383.44 443.08

/2019 the number of service stations was 1,188 locations. For the Net Marketing Margin that lowered from the previous quarter was caused by the price of finished products in the global market increasing