Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 4th quarter and year ended December 31th, 2019 2 Management Discussion and Analysis of Business Operation for FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Manag...

, as this is an off - season quarter, resulting in a drop of monsoon typhoons moving through the project location. • Net share of profit from the Geothermal Power Plant business in Indonesia was THB 118

innovation to create new business revenues or new S-Curve corresponding to the fast-moving environment of energy and electricity generation sectors and become an energy solution service provider of PTT Group

centimeters, for use in moving goods. It has a weight of 500 kilograms to 2,000 kilograms, which provides more transportation and storage. Currently, the capacity is 15,000 tons/year. The raw materials are

stemmed from the decrease in sugar prices and cost of production. Since the 1st quarter of 2017, the Company had been relocating its production lines of sauces and condiments to the new factory, such

, and the office was relocated to support the expansion, resulting in cost of relocating and writing off existing office improvements. There was no such expense in this year, which made the Group's

performance of Boonterm kiosk with the ARPU management more than 5% of growth from 2017 and relocating the kiosks from the area that generate low income to the new area that generate higher income. As well as

number of kiosks, which the total of 129,208 kiosks covering all area nationwide. The Company's strategy continues to emphasize on efficient location and allocation strategies by relocating the kiosks from

current total is 130,109 kiosks, increasing 9.2% YoY, and it slightly increased due to relocating kiosks scheme, which the kiosks are removed from the area that generate low income to the new area that can

relocating its production lines of sauces and condiments to its new factory, so during such period, the new factory was in the early stage of production; therefore, the production was unable to run efficiently