Page 2 Management Discussion and Analysis 1. Significant events in the first Quarter of 2018 1.1 The progress in construction projects 1.1.1 Process of construction - Xayaburi Project, a project of the

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE For

3.49 1.13 32.38% 3 - Construction 1,405.03 1,079.05 325.98 30.21% 4 - Testing and Inspection 78.24 57.22 21.02 36.74% 5 Cost of sales and services (2,029.13) (1,734.66) 294.47 16.98% Gross Profit 248.42

six-month period of 2019. The revenues from service business of the quarter 2/2020 amount of Baht 409.89 million was decreased of Baht 398.04 million or 49.27% from the services business revenues of

(the “Company”) would like to notify the Stock Exchange of Thailand regarding the business operation for the 3rd Quarter of the year 2019 ended 30 September 2019 as follows; Total Revenue The Company has

decrease was derived from engineering service, solar energy, and Trading business. • Overall gross profit margin decreased from 13.3% to 9.1% amount Baht (24.09) million. 2019 2018 Revenue 383.44 443.08

or 6.94% compared to Q2/2017 (If excluding construction revenue under concession agreement of 1,980.48 million Baht, the total consolidated sales and services income would decrease by 120.25 million

of new office buildings and warehouses. (Under construction) Expansion and acquisition of property groups in the Hemodialysis Center, Advance payment for rights Franchise and purchase of new business

Microsoft Word - ACC-LT049_E_MDA-Q1'18.docx                         WIIK & HOEGLUND PUBLIC COMPANY LIMITED  90 CW Tower A  T + 66 (2) 6128600 Business ID 0107538000151    35th Floor, Ratchadapisek Rd

strategic co-developer of power business. We currently have total installed capacities of 552 equity MW under operation, and another 17 equity MW under construction. We partner with a number of key Thai and