in quarter 2/2017 as the company was able to increase sales to some customers in spite of the decline in market demand from the lower biodiesel mandate being B5 and B7 in this quarter compared to the

of 31% YoY. This represented gross profit margin of 27.6%, a decline from 31.6% in Q2/2016 as a result of higher cost per unit due to lower utilization as well as lower sales proportion in Branded

% going forward and the ratio should gradually decline as a result of cost synergies in through restructuring, in particular in digital operations. In light of tangible improvement in gross profit, VGI

represented gross profit margin of 29.7%, a decline from 34.4% in Q3/2016 as a result of higher cost per unit due to lower utilization. However, gross profit margin improved QoQ from 27.6% in Q2/2017 due to

total revenue in Q4/ 2016. The slight decline in gross margin incurred due to the recognition of project with lower gross margin in this quarter. Lastly, net profit is equivalent to 21.94 million THB or

palm oil price and glycerine price in 1Q2109 was significantly decreased, attributed to a decline in by-product’s revenue. Furthermore, the company had impact from a decrease in crude palm oil price

-18 and continued investments in network, D&A rose 9.1% YoY. In conclusion, reported net profit was Bt15,340mn decreasing 4.4% YoY whereas normalized net profit was Bt15,848mn, a decline of 1.2% YoY

and Olé Mini Sugar Free. However, the growth was partly offset by the decline in OEM-personal care. 1H’19 the Company’s gross margin improved to 35.0%, +330bps YoY. Gross profit increased by THB 614

Margin (GPM) In 2Q19, gross profit from sales of real estate was THB 179.1mn, where GPM was 26.1%, declined from THB 215.8mn in 2Q18, where GPM was 27.9%. The decline in gross profit was because 22.3% of

decline in consumption of Construction Sectors, as well as Steel Sectors. However, the Company still maintains the operation at 15 hours per day in order to keep production capacity at high level and, at