higher cost of goods sold. Administrative and Selling Expenses Selling, general, and administrative expense as a percent of sales increased slightly to 12.9% in 2018 compared to 12.8% the previous year

tax expense 2.90 (3.44) (3.20) -210.34% -6.98% (2.07) (9.88) 377.29% Profit for the period 19.17 43.14 67.54 252.32% 56.56% 49.20 156.72 218.54% -2- Cost of Sales Cost of sales in 3Q18 was at Baht

lasted through the quarter. 2. Net marketing margin decreased, compared to the previous quarter, as the retail price was unable to keep up with the velocity of rising cost, combined with the government’ s

1.5% due to revenue from sales of tickets was increased of Baht 7.18 million from increase in number of tourists and selling price. million % Sales of tickets 280.12 272.94 7.18 2.6 Sales of food and

/Litre, lowered by 5% YoY, a result from lubricant product’s rising cost compared to their stagnant price, combined with slight dips in retail marketing margin. Marketing margin decreased 1% QoQ, from

% ] Cost of Sales 2,424.7 2,457.1 2,628.9 Gross margin, % 18.98% 21.09% 27.84% SG & A 415.5 403.1 471.4 Operating Profit * 213.3 248.2 -14.1% 527.1 -59.5% Net Profit-Consol. F/S 159.0 268.6 -40.8% 558.0

expansion of their Non-oil businesses, however the cost of selling, general and administrative expense remains high, leaving the Bangchak Retail Co., Ltd.’s EBITDA still in the negative, therefore effectively

Calculation of Offer Price of Securities and Determination of Market Price for Consideration of Offer for Sale of Newly Issued Shares with Discount

revenue from sales and services amounted to Baht 7,815 million, decreased by Baht 334 million or 4% QoQ. This result from the decrease in sale volume and selling price while increase in production cost both

higher proportion than selling price increase as well as Graphite Electrode’s price which is a part of conversion cost still high in this quarter. On a YoY basis, the Company and subsidiary had total net