period of 2017 were Baht 1,873.8 million. The result from net non-interest income increased by 58.9%. Basic earnings per share for the third quarter and the nine-month period of 2018 were 0.037 Baht per

LIMITED Management’s Discussion and Analysis ABBREVIATION ADB Asian Development Bank COD Commercial Operation Date EBITDA Earnings before Interest, Taxes, Depreciation and Amortization EDL Electricite Du

22.16% Retained earnings Legal reserve 74.90 3.28% 74.90 3.19% Un-appropriated 485.98 21.33% 468.04 19.96% Non-controlling interest of the subsidiary 203.14 8.92% 220.80 9.41% Total shareholders’ equity

of a change in foreign currency exchange rates. In addition, the company realized a gain of Bt.40.8 million on its previously-held equity interest in an associate (KCE America, Inc.) prior to its

%. Finance cost was Bt1,293mn, inclusive of Bt523mn deferred interest from spectrum licenses. The finance cost increased 72% YoY due to an increase in borrowings to support spectrum acquisition and network

expenses 197 193 4 2.1% Interest and Tax expenses 28 36 (8) -22.2% Share of profit from associate and JV 109 31 78 251.6% Net Profit attributable to equity holders 224 146 78 53.4% Total Revenues Total

813.47 million, others income of Baht 27.47 million, interest income from financial institutions of Baht 8.81 million.  Gross profit of the Company and its subsidiaries were in amount of Baht 95.60

the reasons stated above, the company had a lower loss as compared to the same period last year. In addition, the “Earnings Before Interest, Tax, Depreciation and Amortization” (EBITDA) for the current

Bt613mn increasing 39% YoY mainly due to a revenue recognition of expired cash cards and other fines. Finance cost was Bt5,302mn increasing 25% YoY due to the deferred interest from spectrum licenses

Bt223,078mn decreasing 4.2% from lower interest-bearing debt, which currently stood at Bt97,700mn, down from Bt109,100mn. Total equity was Bt64,529mn increasing 12% from retained earnings. Net debt to EBITDA