. Overall market environment The Thai economy continued to expand mainly from 2 key drivers relating to external factors, in line with the recovery of the overall global economic conditions (Global
relation to new excise taxes in effective since 16 September 2017. However, the Company does not adjust the selling price to reflect the higher cost immediately. Instead, the selling price of ready-to-drink
mentioned. • EBITDA margin hike to 28.3% in Q3’2019 from 1) the contributions from solar projects in Vietnam which give relatively higher EBITDA margin and 2) a 2.1% q-on-q declining gas cost per unit while
sales of restaurants in Cambodia, China , UK and Switzerland declined by 11. 7 percent due to a higher competition in a restaurant business and a continuous economic slowdown in China and UK countries. In
challenging factors for future performance in 2020 whether the economic volatility and other challenges, which shall impact the Company's performance. The management, therefore, remains committed to the
volatility from time to time amid the uncertainties of US-China trade policies and the eventual relationship between the UK and the EU, turbulence in emerging markets, and concerns over the US economic outlook
reduction. However, outstanding loss remained due to 1) sales shrinkage; 2) higher cost as a result of higher depreciation from investments in machinery; 3) higher financial costs from investments; and 4) one
25-year Power Purchase Agreement (PPA) with the tariff of USD 6.5 cent per kWh. The project was able to achieve COD as scheduled in PPA, and construction cost is in line with the budget approved. Move
the economic conditions at the time and current cash collection efficiency. As of 31 December 2019, BAM has net book value of loans purchased of Baht 77,374.66 million against appraisal value of NPLs at
actions in order to continue its business as normal. - The steel business is considered as the upward trend and strong demand for Thailand which is in line with economic growth. The Company therefore need