reported revenue growth of 38.4% y-y or THB 346 million, driven primarily by business combination. Excluding TBSP, Company’s core revenues increased by 12.5% or THB 78 mil, mainly caused by higher revenues

million 3. Management Discussion and Analysis 3.1 Revenue from construction for the second quarter of 2019, has decreased when compared to the same quarter of 2018, by Baht 846.73 million or 38.49%. The

881 www.aapico.com Management Discussion and Analysis for the 2nd quarter of year 2019 2 Total revenue grew by 11.1% year-on-year, driven by higher sales from the automotive parts segment. Interest

in the current year and expected to recognize a total of revenue in this year as well. Revenue from Sales There was no any revenue from sales in this quarter whereas the sale income in the same quarter

in revenue from construction service in oil and gas sector amounting to 162.22 Million Baht, accounting for 90% compared to the same period of previous year. However, the Group has completed property

previous year as the revenue recognition on progress measurement method towards complete satisfaction of the performance obligation on construction service contract that has continuously awarded since 2018

and nine month period of 2020 compared to the same period of the previous year, as follows: The third quarter of 2020 Vs 2019 1. Revenues The Company’s revenue in the third quarter of 2020 was Baht

(loss) for the year (from the separate financial statements) Baht (380.99) million Baht 470.09 million 3. Management Discussion and Analysis 3.1 Revenue from construction in 2019, has decreased by Baht

liters. * Note: Total Flights was data of flights that serviced by BAFS only at BKK and DMK The pandemic affects the Group in terms of services revenue. Total revenue of Q1/2020 was of Bt867.3 million

the financial performance for the second quarter of 2020 In the second quarter of 2020, the Company reported revenue of THB 176 million, which increased by THB 90 million from revenue of THB 86 million