Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Management Discussion and Analysis The Thai economy is expected to gradually recover in line with COVID-19

enterprise which have already approved their expenditures before the COVID-19 outbreak. Therefore, the projects that the Company participated in the auction did not decrease, but the implementation of the

Profit 2019 2018 Increase (decrease) 2019 2018 Increase (decrease) 2019 2018 Increase (decrease) 1. Event organizer 261.8 166.8 95.0 158.9 96.0 62.9 102.9 70.8 32.1 2. Media and agency 51.9 60.3 (8.4) 47.3

continued to expand, it has still been affected by high levels of household debt as well as persistent low prices for agricultural products. The performance of the company in this quarter is still in line

Table 3 : Sales Revenue by Product Line for the Nine Months ended 30 September 2020 (9M YoY) Sales by geography Consolidated financial statements Change Increase/(Decrease) For Nine Months Ended 30

3,693.57 (1,258.59) (34.1) Profit before FX 532.44 2,175.99 (1,643.55) (75.5) 2,516.29 3,879.22 (1,362.93) (35.1) * excluding fuel cost Quarter 2 6-Month Increase (Decrease) % Increase (Decrease) % The

income and services revenue Table 2 : Sales Revenue by Product Line for the Years ended 31 December (12M YoY) Sales by geography Consolidated financial statements Change Increase/(Decrease) For The Years

million or 4.88% as compared with the same period of 2018. This increase was in line with revenue from sales. Gross Profit Margin Gross profit margin is equal to 40.17% in the 1st quarter of 2019, which

revenue from the property management and cleaning services which was in line with the increase of successful ownership transfers from 6 completed developments and including additional incomes from (sold

following details. Financial performance Statement of income Consolidated financial statements for the year 2018 2017 Change (Audited) (Audited/Restated) Increase (Decrease) THB Million % THB Million % THB