revenue: average prices have resumed an upward trend having fluctuated somewhat over the quarter due to product mix impact. This upward trend is set to continue as input prices such as fuel rise. Saraburi

sales of goods for the 3-month period ended June 30, 2020 increased from the same period of last year around 29.33% or in the amount of 20.15 million baht, which in line with a rise of sales. Moreover

(+29.81%) and a decrease in non-current assets of THB 32.10 million (-3.55%). An increase in current assets of THB 518.53 million was mainly due to the rise in inventory, driven by the growth of product

from rise in value of the Low Sulphur Fuel Oil product group which the market has demand for adhering to the IMO measures. Despite the amount of trade and transaction of crude oil and finished product

as the e-Wallet and internet package top-up. Total revenue from core businesses was Bt3,147mn, decreasing 5.7% YoY. However, as a result of the costs control measurement on both service costs and

used in Value Measurement The price negotiation between the buyer and seller is referred to the appraisal of Sasirachada Co., Ltd. which determines the project value by using the cost approach and income

lockdown measurement which has begun from the last week of March to create social distancing and contain the spread of Covid-19, as a result, businesses has been interrupted and severely affected the

costs control measurement on both service costs and administrative expenses as well as the lower financial costs, the Company’s net profit was Bt144mn, decreasing of 1.1% YoY. As at the end of 3Q19, the

%) Adjusted Net Income margin (%) 16% 10% 7% (3%) (9%) 16% 8% (8%) PAGE 2PAGE 2 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q2 2019 Fair Value Measurement of Net Assets from the Acquisition of GLOW As accounting

plants of Baht 2,340 million. As for GPSC’s SPP plants, gross profit decreased by Baht 38 million due to the growth of cost of natural gas following the rise in both quantity required and average price. In