margin as a percentage of sales has increased from 25.89% in previous year to 26.17% due to change in product sales mix of general merchandise and the enhancement of directly sourced private-label goods

762.9 775.9 -13.0 Total 1Q 777.5 802.1 -24.6 797.9 675.4 122.5 Table 4: Sales and volume sold, by region (PCB Shipment @ Factory price) Table 5: Sales and volume sold, by product mix (PCB Shipment

sales revenue [-2%], stronger THB/USD exchange rate [-2%], change in product mix [-1%] and higher labour and salaries expenses [-1%] . Page 1 of 3 Operating Profit Analysis Year-on-year operating profits

มือช่าง (Industrial Tools) กาํไรขั้นตน้ในไตรมาสหน่ึงของปี 2563 มีจาํนวน 2,586 ลา้นบาท ลดลงร้อยละ 13.2 จากไตรมาสเดียวกนัของปี ก่อน เน่ืองจากส่วนผสมของผลิตภัณฑ์ (product mix) ท่ีต่างกัน รวมถึงความต้อ

million, decreasing by Baht 201.69 million or a 35% drop from the same period of last year in the mix of THB 244 million from language institute business, THB 109.84 million from restaurant business and THB

resulted from the change of product mix from the product that have higher margin. 3. Cost of rental and service was Baht 162.68 million, an increase of Baht 12.68 million or increase by 8.45% due to higher

mix of lower cost structure products. Selling and Administration Expenses • Selling expenses to total revenue ratio in Q1-2020 rose by 0.06% QoQ resulting primarily from decreasing in total revenue

and partners in each country in cooperatively setting up strategic plans to select the right products and marketing strategy for each focused country, such as emerging countries in ASEAN as well as

increase by 10.7 MB or 57.5% y-o-y consisting of revenue from space rental of “The Brio Mall” which plans for site development plan, screens more variety of shops including setting up interesting activities

account In the first quarter 2019, the doubtful account of company at Baht 0.57 million, decreased Baht 0.09 million, setting allowance for fees from joint ventures 6. Financial expenses Financial expenses