revenue ratios for those years stood at 15.69% and 12.90%, respectively. The period-on-period decreased in the three-month period ended March 31, 2018. In the first quarter of 2017, the administrative

Mn and THB 1,558.7 Mn respectively, a decrease of THB 30.1 Mn or 1.9%. The assets decreased mainly from a decrease in property, plant and equipment assets related to the reversal of provisions for

assets of THB 1,588.9 Mn and THB 1,558.7 Mn respectively, a decrease of THB 30.1 Mn or 1.9%. The assets decreased mainly from a decrease in property, plant and equipment assets related to the reversal of

Profit Margin (%) -0.51 5.07 12.65 7.58 -14.92 13.16 1,289.93 • Net revenue of Q4/2018 is decreased for 27.17 million baht comparing with Q3/2018 because of the recession of the market and the price war

. Excluding TBSP, Company’s core revenues decreased by 8.4% y-y 2018, mainly caused by lower Business Form for Banking and Office Paper businesses. THB million Y18 Y17 %Chg As Reported Total Revenues 2,060

12.43 221.57 Net Profit Margin (%) -0.51 5.07 12.65 7.58 -14.92 13.16 1,289.93 • Net revenue of Q4/2018 is decreased for 27.17 million baht comparing with Q3/2018 because of the recession of the market

% from the previous year due to with repayment from projects with debt continuously as a result financial costs decreased. As of 31st December 2018, the Company had a Debt to Equity ratio of 1.21 times, an

period in 2017 in line with revenue from the exclusive mobile phone project. 7. Selling expenses In 2018, selling expenses decreased by Baht 3. 4 million or 14% from year 2017. This main reason was the

Expenses In 2019, the selling expenses were 193.21 million baht, decreased by 10.39 % from the previous year being reported at 215.61 million baht. This decrease derived from write off in bad debt of oversea

of 2019, the Company had the inventory decreased by 322.7 million Baht to the level of 1,006.4 million Baht at the end of 2019. Besides, being a trading partner with AIS, the number one network