related to generation and distribution of electricity under SAAM-SP1 mainly includes (1) depreciation expense for the solar power project, (2) operation and maintenance, and (3) other costs such as utility

) Dec. 31, 19 Dec. 31, 18 Amount % Dentist remuneration 236.14 221.91 14.22 6.41 Rental of office and branches 51.57 52.71 (1.15) (2.18) Employees’ salaries of branches 70.10 64.29 5.81 9.04 Depreciation

% Gross profit 86.16 82.23 3.93 5% Gross profit margin 29% 28% SG&A 58.00 52.09 5.91 11% EBITDA 57.50 60.28 -2.78 -5% EBITDA margin 19% 20% Depreciation and amortization 28.53 29.44 -0.91 -3% EBIT 28.97

of the two companies together. For Q1/2020, there are important factors and significant events in various aspects, such as the depreciation of the Thai Baht against the US Dollar, the decrease in price

items. 1.2 Expenses 1.2.1 Cost of services In Q1/2020, Cost of services was of Bt424.5 million, increased of Bt36.8 million or 9.5%(y-o-y), which was an increase of 1) depreciation and amortization of

2.49 1.79 38.55 5.98 -58.43 6.71 21.63 -68.96 Earnings before interest, taxes, depreciation and amortization (EBITDA) 23.15 19.30 19.94 27.11 -14.63 67.32 74.62 -9.78 Depreciation and amortization 20.19

revenue from hospital operations comparing to the main cost of hospital operations. The main cost of hospital operations consist of doctor fee, cost of goods, salary, depreciation and etc. WATTANAPAT

accounting standard TFRIC12 EBITDA (MB) Q1/2017 Q1/2018 YoY % Operating profit 484.21 403.89 (80.31) (16.59%) Depreciation 95.25 100.14 4.89 5.13% Amortization 67.71 73.92 6.22 9.18% EBITDA 647.16 577.96

months for customers’ awareness and regular use of service which causes income to reach the Company’s standard. Therefore, depreciation cost rises over an income at the beginning period of kiosk

from fully operational of Wattanapat Ao Nang hospital (fully operational in March 2019), such as employee expenses, doctor fee, cost of goods sold, depreciation infrastructures and so forth. Selling