Dusit Thani PLC Management Discussion and Analysis For 1Q19 P a g e | 1 Executive Summary In 1Q19, the Company reported net profit of THB 1 million, a decrease of 99.6% from the same period last year

 Explanation and analysis of financial status as at 31 March 2019 Financial performance for the three-month period ended 31 March 2019 Compared to the same period last year, the company’s performance decreased

% repectively. However, the revenue from out-patient per billing is almost equal to the same period last year, on the contrary, the revenue from in-patient is declined by 4.7%. Cost of Hospital Operations The

Million, increased by Baht 3.2 Million or 0.4% from the same period of the previous year of which Baht 719.6 Million was revenue from sales. The Company had successfully recorded a sales growth of Baht 28.6

”) reported consolidated revenues of Baht 426.1 million, a decrease of 13.7% compared to the same quarter last year. Sales revenues reported at Baht 415.3 million, declined by 16% due to slower sales in

) (1.6) (5.5) -349% Earnings per share (THB/share) (0.01) (0.00) (0.01) - ⚫ Referring to rising in market price of rice (raw material), COGs/revenue ratio of Q1/2018 are at 84%, comparing to 82% of same

of materials and labor costs in effectively, which results in an increase in gross profit compared to the same period last year and onwards. Cost of sales food and beverage Cost was 93.5 MB, an

 Net debt to equity ratio as of 31 March 2018 stood at 0.34x, an improvement from 0.93x in 31 December 2017. Current ratio as of the same date stood at 3.09x, a significant improvement from 1.70x, both

of materials and labor costs in effectively, which results in an increase in gross profit compared to the same period last year and onwards. 3 Cost of sales food and beverage Cost was 180.8 MB, an

similar to remunerations paid by other companies to operators in the same business. Details of connected persons : 1) Ms. Piengchai Harnpanich and the connected person are the major shareholders of The