faithfully, Mr. Hiroaki Sano Managing Director 2018 2017 Gross profit margin 21.5% 19.9% Net profit margin 15.2% 11.6% Debt to Equity ratio 0.09 0.11 Earnings per share 2.58 1.90 ROA 15.8% 12.3% ROE 16.3% 13.2%

Thailand is behind other countries in South East Asian. In 2018, retail industry growth only at 3.9% per annual. The Company engages in retail rental space for retailer more than 1,500 client and operate 3

% Net Profit 1.3% 6.7% EBITDA (MB) 9.0 20.8 -56.9% EBITDA (%) 5.1% 11.7% Earnings per share (Baht) - 0.02 -100.0% Remark : EBITDA = Profit before finance costs, income tax, Depreciation and Amortization

balance held in foreign currencies and on the net debt changes over the period of cash flow, due to the increase/decrease in net debt as per statement of financial position might be different 14 Table 8

% Debt to Equity ratio 0.08 0.09 Earnings per share 3.07 2.58 ROA 14.4% 15.8% ROE 17.5% 16.3%

was 207.53 million baht, up 2.65 million baht per cent 1.29 compared to total liabilities as at 31 December 2016 of 204.88 million baht, of which slightly increased due to trade creditors at. on March

and issuance of debentures totaling Bath 500 million in May 2016 at the interest rate 5.4 percent per year. In this regerd, the objective of issuance of debentures was to prepare the source of fund for

payment for the first half of the year ending June 30, 2017 to shareholders of the Company for Baht 0.06 per share. The total number of outstanding shares entitled for the dividend is 4,552,093,575 shares

contributed to an increase in the overall costs of production per unit. 2Q16 1Q17 2Q17 %YoY %QoQ 1H16 1H17 %YoY - Euro 441 356 387 -12.24% 8.71% 638 743 16.46% - United States dollar 1,096 875 938 -14.42% 7.20

หลักจากการเพิ่มขึ้นในเจ้าหนี้การค้าจากราคาวัตถุดิบหลักที่ปรับตัวสูงขึ้น ทั้งนี้ ส่วนของผู้ถือหุ้นมีจ านวน 3,315.61 ล้านบาท เพิ่มขึ้น 114.80 ล้านบาท ท าให้มูลค่าทางบัญชีต่อหุ้น (Book Value per Share) ของบ