ยูในชวงปลายของวัฏจักร ในสวนของผลกระทบตอตลาดหุน สามารถแบงออกเปน 2 สวน ดังนี้ 1) Valuation หรือคา Forward P/E ซ่ึงถูกกดดันผานนโยบาย การเงินที่เขมงวดข้ึน และ 2) คาดการณกําไรบริษัทจดทะเบียน

, 2019 Page 1 Executive Summary Unit : Million baht 2019 2018 Total revenues * 15,668.94 14,780.73 888.21 6.0 Total cost and expenses * 9,573.18 8,346.74 1,226.44 14.7 Gain (Loss) on foreign exchange

Income 235.16 1.41 329.90 1.94 318.24 1.85 Total Revenue 16,701.67 100.00 17,022.92 100.00 17,246.71 100.00 Cost of Sales (14,463.26) (86.60) (14,191.28) (83.37) (14,150.92) (82.05) Selling and

expenses of the Company during this period increased by 6.1 percent mainly from higher average market fuel price and additional cost related to employee benefits according to new Labor Protection Act The

to acquire assets, other than in the ordinary course of business, briefly describe the assets and their cost. If the assets have been or will be acquired from affiliates of the issuer or 4    their

Criteria used to determine asset selling price is referred to the appraisal of the following 3 independent appraisers: Name of Appraisal Company Method of Valuation Appraisal Value Date of Valuation 1

the condition that a due diligence and feasibility study of the project and valuation of shares are being satisfied and there must be no material adverse effect to the financial conditions and operation

77,481 5.1 Sales and service income 1,633,055 1,599,106 33,949 2.1 1,588,543 1,516,481 72,062 4.8 Cost of sales and service 1,247,598 1,209,891 37,707 3.1 1,214,419 1,175,136 39,283 3.3 Gross profit

contributed by the performance of “Fit Fast Firm” projects e.g. lower cullet costs, new formulation, lower sugar costs and light-weight bottle, however, somewhat offset by cost increase from natural gas. - The

, financial cost and administrative expenses. (2) Analysis of Operating Results and Profitability (2.1) Revenues from Sales and Services Description Year 2018 Year 2017 Increase / (Decrease) Million Baht % of