been put in place, in order not to interfere with the retail market sales volume, the main sales channel. Constant growth can be observed in the retail sales volume from the customer base expansion

, change in regulation for retirement provisioning). As a result after a very successful 2018 with over 24% topline and 30% EBITDA growth, this year has witnessed a 13% revenue and 28% consolidate EBITDA

CONSOLIDATED P&L SNAPSHOT 1 Gross profit margin in 2Q 2016 was calculated from operating revenue excluding extraordinary revenue of THB 13mn 2Q 2017 PERFORMANCE ANALYSIS In 2Q 2017, the Company was witnessed a

creating brand awareness to an extensive reach. Over the last few years, the outdoor media segment has witnessed the consolidation into a few well-resourced media operators in order to increase

increase of 14.1%, reaching 293,083 units. The primary export markets include the Middle East, Europe, North America, Central and South America. Nonetheless, the domestic demand for vehicles witnessed a

broadband business focused on quality of subscription and ARPU improvement. We witnessed a decent take up on network utilization in the key cities, supported by the active sale forces and promotions. In 1Q17

% YoY to THB 14,125mn. Meanwhile, Outdoor media– segment which MACO focuses on – bucked the trend, increased by 12.8% YoY to THB 6,391mn. In recent years, advertising industry has witnessed the shift in

1 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 MEDIA INDUSTRY In recent years, advertising industry has witnessed the shift in the media

witnessed a decline in gross add due to a more stringent control on Prepaid Identification (PI) that impacted new subscribers’ registration, as well as continued focus on quality subscriber acquisition

, service providers continually strengthened networks to enhance competitiveness in quality, efficiency, and customer experience. Fixed broadband industry has consistently witnessed a solid demand for quality