38 brokers. The consolidated net profit for 3Q18 totaled Baht 1,551 million, at the same level as the previous quarter 2Q18 net profit of Baht 1,551 million. When comparing to 3Q17, the net profit for

reflecting management actions on working capital optimization and extract efficiencies. Net working capital reduced by three days over last year. The Thai Baht strengthened 7% yoy and adversely affected

Management Discussion & Analysis (MD&A) Q2/2018 Executive Summary Executive Summary For Q2/2018, Global Power Synergy Public Company Limited (GPSC) (“the company”) had a net profit of Baht 1,052 million

which has already been examined by the Company’s auditor can be summarized as follows: The Company’s performance for the 3rd quarter in 2018 showed a net loss of 23.2 million baht, an increase 17.0

46% EBITDA 33 83 152% 90 142 58% Net Profit (Loss) for the Company (7) 34 586% 4 49 1,125% Gross Profit Margin (%) 56.2% 63.9% 7.7% 57.7% 62.4% 4.7% EBITDA Margin1 (%) 23.9% 35.3% 11.4% 28.2% 32.6% 4.4

due to lower prices. Net debt to equity is at 0.99 times, well below IVL’s covenants, and supported by stronger operating cash flow. The dividend payout of THB 1.225/share for 2019 remains higher than

upgraded the company rating for the Bank and Phatra Securities to “A” from “A-”. The consolidated net profit for 2Q19 totaled Baht 1,471 million, an increase of 19.7% from Baht 1,228 million from the

brokers. Additionally, during 2Q19, TRIS Rating has upgraded the company rating for the Bank and Phatra Securities to “A” from “A-”. The consolidated net profit for 2Q19 totaled Baht 1,471 million, an

net profit for 2Q18 totaled Baht 1,551 million, an increase of 30.9% from Baht 1,185 million yoy. When comparing to previous quarter, the net income for 2Q18 increased by 2.5% comparing to net profit

. The consolidated net profit for 3Q19 totaled Baht 1,610 million, an increase of 9.5% from Baht 1,471 million from the previous quarter of 2Q19. When comparing yoy, the net income for 3Q19 increased by