, the Compa 9M/2016 MB 300.0 597.5 608.9 124.7 299.8 rter of 2017 n baht or an s were 9,04 increase ra or an increa s period of 8 percent. set and Cam diary and a er of 2017 nd other se due to the since

3Q17, sales progress reached 91%. The project was due to complete in 3Q19. Management Discussion and Analysis 3Q17 & 9M17 Consolidated Financial Results Page 2 of 6 • In February 2017, the Company

increase of 467 million baht or 4% y-y. For the third quarter of 2017, revenues amounted to 4,677 million baht, increasing by 317 million baht or 7% y-y and 3% q-q, due to an increase in credit card and

time Excessive Charge in 2017 was Baht 63.5 million. Our Gross Profit Margins excluding Other Income from Utilities Business improved from 27.9% in 2016 to 30.4% in 2017 mainly due to increased selling

value adjustment of investment due to reclassification in the amount of Baht 2,030 Million, net of corporate income tax. 4. On September 21, 2018, the Supreme Administrative Court rendered the judgement

Beverage Business In 2018, the total revenues of DEAN & DELUCA were 2,434 million Baht, decreased by 23% as compared to 2017. This was due to closure of a total of four stores and decrease in the sales of

, decreased by 23% as compared to 2017. This was due to closure of a total of four stores and decrease in the sales of merchandise, gourmet food and beverage in the United States . As of 31 December 2018, the

28.6%, which increased from the GPM of 20.4% in 1Q/18 due to the transfer revenue was mainly from new project recently developed by the Company therefore, the margin is in line with the industry standard

value in AUD currency increased. In contrast, the Company recorded loss on exchange rate of Baht 344.10 million in the 1st quarter of 2018 due to the depreciation of AUD currency in relative to USD

% at constant FX rate. However, the reported numbers showed stable growth due to the unfavorable FX impact. Beverages Segment Domestic beverages net sales were at THB 4,388 million, THB 171 million