declining in revenue from sales and lower share of profit from associated companies. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) The consolidated EBITDA in 2Q2018 was THB 631.26

ลบุรี 20220 129 Moo 3 Nongchak-Phanasnikom Rd., Nongeiroon, Banbueng, Chonburi, Thailand 20220 Tel. 038-160707 Fax. 033-047348 www.ndrubber.co.th • Gross profit margin in Q4/2018 is lower than Q3/2018

in Q4/2018 is lower than Q3/2018 because of less in revenue and the price competition in the market. But, comparing with Q4/2017, our gross profit margin is higher from 5.61% to 18.04% due to the

acquired in 2016 and 2017. In 2018, the revenues from renewable energy are starting to contribute a significant portion of the profits. Padaeng Industry Public Company Limited and its subsidiaries (“the

significantly. Resulting in the lower average income earned per person. Furthermore, there have been an increasing numbers of suggestions towards OPD treatments. However, the revenue of OPD increased by 12.2

MW solar farms in Thailand have been acquired in 2016 and 2017. In 2018, the revenues from renewable energy are starting to contribute a significant portion of the profits. Padaeng Industry Public

due to the R&D and sales force invested for new products development enhancement and 7.6% lower compare to last quarter due to Q2’19 have high R&D outsource service in Europe Operating profit in Q3-19

transactions of the Company during the past 6 months before the date of entry into this transaction, therefore, the total transaction value will be 13.66% of which the transaction value is lower than 15% of

renegotiate with AM to lower the interest rate or other fees charged, and provide grace period for the first year if the operating performances of GSTEEL?s group of company remain losses, it would be the utmost

affected company's results of operations include (i) coal price and gas price that continued to drop further from previous quarter resulting in lower costs of sales and (ii) COVID-19 pandemic. Based on our