272,695 254,794 17,901 7.0 Taxes and duties 101,092 70,087 31,005 44.2 Loss from revaluation of foreclosed assets (Reversal) (35,840) 162,910 (198,750) (122.0) Loss (Gain) from sale of foreclosed assets

0.18 -150% -0.02 350% -0.09 -1.57 -94% Note: (1) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV (2) Extra item was from reversal of inventory derogation because a supplier

) (Reversal) loss from revaluation of foreclosed assets (34) 146 (123.5) 693 (105.0) Loss from sale of foreclosed assets 395 138 186.0 392 0.8 Other expenses 394 432 (8.7) 399 (1.0) Total other operating

expenses (reversal) 0.0 0.0 0.0 - - Profit before income tax expenses 139.0 183.0 138.7 -0.2% -24.2% Tax expenses (reversal) 7.5 42.4 20.6 +174.4% -51.5% Profit (loss) attributable to non- controlling

from assets impairment (Reversal of) 2,950 - 1,479,091 86% (1,127,054) -76% Loss from allowance for doubtful account (Reversal of) - - (7,033) - (57,477) -4% Financial costs 152,358 7% 169,153 10

Derivatives (2) Extra items were from the reversal of reserve from inventory shortfall damage and deferred tax assets/liabilities Global Green Chemicals Public Company Limited Management Discussion and Analysis

revenues of the Company for year 2019 was 4,647.7 million baht or rose by 66.7 percent. Main contributions of unallocated revenues were dividend income from BDMS, reversal of accrued concession fee from

56 53 (1.9) (5.4) Taxes and duties 288 201 110 (61.8) (45.3) Impairment loss on properties for sale (reversal) (14) (15) (12) (14.3) (20.0) Properties for sale expenses 23 23 33 43.5 43.5 Other

expenses 2/ 291.0 271.0 243.3 -16.4% -10.2% 606.3 514.3 -15.2% Finance costs 48.1 84.7 77.3 +60.5% -8.8% 88.0 162.0 +84.1% Other expenses (reversal) 0.0 0.0 0.0 - - 0.0 0.0 - Profit before income tax

equipment expenses 273 274 (0.1) 314 (13.1) 850 977 (13.0) Taxes and duties 124 111 12.3 107 16.3 375 298 25.8 Loss from revaluation of foreclosed assets (reversal) (38) 48 (179.6) (10) 281.6 703 61 1,043.3