revenue 201.8 0.7 216.5 0.8 (14.7) (6.8) 2. Airports 547.3 1.9 598.1 2.1 (50.8) (8.5) 3. Airport-related Operations 4,350.3 15.2 4,082.3 14.6 268.0 6.6 Bangkok Air Catering Company Limited (BAC) 1,024.0 3.6

' significant resolutions as follows: 1. Approved to propose to the Extraordinary General Meeting of the Shareholders No. 1/2018 (the “EGM”) for consideration and approval of the reduction of the Company’s

Environment 1 1.1 Global and Thai Economy in 2019 and Outlook for 2020 1 1.2 Banking Industry, Competition and Emerging Risks 2 1.3 Significant Regulations and Rules related to Business Operations 5 2. Risk

year. Despite the reduction in sales quantities and prices, the increase of Baht 1082 million was mainly on gain from decreased capital of investment in subsidiary (Baht 639 Million), Reversal of loss on

Baht 1,810 million last year mainly due to waiver of interest of Baht 5,506 from creditors consequent to conversion of the Debt to Equity, Gain from capital reduction in Subsidiary Baht 1,130 million and

to the company such as a reduction on the consulting fee and utilities expenses. In addition to the expense’s management, the Company had the positive impact on EBITDA from the new TFRS 16 - Lease in

is invested and operated by Thai Flavour and Fragrance CO., Ltd. Operation Results The Revenues from Operations For the nine –month period ended 30 September, the revenues from sales and rendering

7 3. Business Directions and Operations of Core Businesses 9 3.1 Sustainable Development and Corporate Governance 9 3.2 Business Directions of KASIKORNBANK and the Wholly-owned Subsidiaries of

increased from excise tax and partly offset by cost reduction of raw materials and packaging. Food business Food cost of sales slightly increased from utilities cost in production and partly offset by cost

, reduction of expenses and deferring unnecessary investment projects. Accordingly, the Corporate Group has been able to maintain good gross profit margin and achieve higher net profit. - 2 - (2) Analysis of