profits from operation calculated from two audited consolidated financial statements for a period of 9 months ending on 30 September 2018 of the Company. Once included the asset acquisition transaction(s

interest rates. Earnings before interest, tax, depreciation and amortization (EBITDA) EBITDA was THB 529 million, decreased by 24.5% yoy due mainly to lower revenue from room renovations since 2Q17 and lower

million, a decrease of THB 266.8 million YoY (or -4.3%) due mainly to lower sales from Beverages segment (THB -276.8 million or -5.9% YoY) and lower OEM bottles sales (THB -72.5 million or –25.4% YoY

Dollars. The Company reported total expenses of Baht 398.4 million, decreased by 16.5% compared with QoQ, mainly due to operating expense management and lower shutdown expense. As a result, the Company

the same period of the previous year by 3.83 million Baht and 12.38 million Baht respectively, due to the lower sales caused by the depreciation of Thai Baht and intense competitive situation in foreign

year, mainly caused by significantly lower revenues from Security Document Solution and Card Solution. Gross profit was THB 424.1 million, a decrease of THB 108.8 million or 20.4% from the last year

outstanding shares of NINE, at the price of not lower than Baht 2.62 per share which is the average price that the Company acquired the NINE’s ordinary shares. Additionally, the total amount received from the

sales when compared to the same period of 2018, with cost of sales of 660.98 million baht or 86.82 percent of sales due to lower product prices. Including appropriate and effective cost management

represents decreasing of 34 Million Baht (2,642%) from Q1/2017. The main cause for the lower net profit is economic in Thailand just recovery, and there is a delayed effect before reaching down to

Million Baht (56%) from Q2/2016. The main causes for the lower net profit are economic in Thailand have not yet recover and intense competition. Discussion and Analysis of the Company and its subsidiaries