Directors certifies that the Board of Directors has performed its duty with honesty and has carefully preserved the benefit of the Company in relation to such increase of the registered capital. However, in

of Directors The Board of Directors certifies that the Board of Directors has performed its duty with honesty and has carefully preserved the benefit of the Company in relation to such increase of the

flexible packaging, which will not be profitable for the Company. 7.3 Policy of Paying Dividend The Company has a dividend policy to pay out as least 50% of its net profit after tax stated in the separate

(80.31) (16.59%) Finance cost 36.29 33.63 (2.66) (7.34%) Income tax expenses 81.28 64.90 (16.38) (20.15%) Net profit 366.63 305.36 (61.27) (16.71%) Net profit attributable to owner of the parent 363.92

Expenses (130.8) (152.9) -14.5% Finance Costs (366.6) (459.9) -20.3% Share of Profit from Investments in Associates and Joint Ventures 2,047.4 1,936.1 5.7% Income Tax (Expense) Income (49.1) (18.2) 170.4

, due to the decrease in accrued withholding tax. 4. Increase in debentures (net) of THB 6,087.1 mm, mainly due to bond issuance of THB 11,800.0 mm during this period, however the Company has repaid

297 2% 458 4% 161 54% Tax Expenses 134 1% -49 0% -183 -137% Net Profit 490 4% -277 -2% -767 -157% Revenues Analysis Total revenue in 2018 was 12,562 million baht lower than the previous year of 72

rate 312 17% 28 1% -91% 216 6% 290 3% 34% Share of loss from investment in joint ventures 35 2% -22 -1% -162% -23 -1% -74 -1% -225% EBT 405 22% 375 11% -7% 989 25% 1,055 12% 7% Income tax expense -48 -3

of Bt154 million; investments in associates of Bt38 million; deferred tax assets of Bt75 million; and other non- current assets of Bt26 million. A decrease in assets of Bt1,620 million from Bt18,121

% Administrative employee cost 100.08 63.05 101.49 60.90 1.41 1.41 Miscellaneous expenses 23.13 14.57 17.48 10.49 (5.65) (24.43) Depreciation and amortization 14.60 9.20 11.99 7.19 (2.61) (17.88) Tax and other fee