is attributed to the appreciation of the Thai Baht versus the US dollar. Selling expenses Consolidated selling expenses for the year 2017 and 2016 amounting to THB 483 million and THB 458 million
exchange gain The Company recorded consolidated net gain on foreign exchange for the year 2017 amounting to THB 1,245 million (Separate: THB 826 million). The gain is attributed to the appreciation of the
improvements but certain limitations still remain 1) Structural problems in the Thai economy leading to a still low level of private consumption 2) The appreciation of Thai Baht due to the high current account
but adversely impacted from strengthened THB appreciation against USD and PHP. Without such FX impact, revenue from overseas owned hotel should have increased by 7.6%. Revenue increase were contributed
be cautious upon 1) Crude oil and commodity prices trend - recovering trend will aid Thailand's inflation to rise which in turn will result in rise of farm income and ease Thai Baht appreciation via
premium to. Steam Sales to Industrial Users (IUs) • Steam sales to industrial users in Thailand increased 4.7% y-on-y and 2.1% q-on-q (Baht 554 million in 2018 / Baht 146 million in Q4’2018). • The volume
Baht appreciation during 6M/2018 relative to 6M/2017. EBITDA margin was slightly lower to 26.9% in Q2’2018 because selling price per unit to IUs remain unchanged, while gas cost is higher. Normalized
appreciation of the Thai Baht versus the US dollar (Separate: Baht 684 million). 4. Statement of financial positions Total Assets As of 31 December 2019, the consolidated total assets amounted to Baht 26,400