(34.09) -89.88% Share of gain on investments in associate 2.86 (1.44) (4.30) -150.28% 2.89 (1.61) (4.50) -155.77% Finance costs (0.07) (0.07) (0.00) 2.63% (0.13) (0.14) (0.00) 2.07% Profit before income

(33.37) -68.17% Share of gain of investments in associates (0.04) (0.40) (0.35) 836.84% 2.85 (2.01) (4.86) -170.47% Finance costs (0.04) (0.08) (0.04) 100.61% (0.18) (0.22) (0.05) 25.73% Profit before

10,352 10,468 (1.1) Inventories 7,995 7,684 4.0 Investments in associated companies 712 593 20.1 Property, plant and equipment 7,284 7,302 (0.2) Others 2,565 2,650 (3.2) Total Assets 46,741 46,017 1.6 Bank

started to rise so high that the new marketing policy is called to order to be able to conform to today’s market conditions. As for the company’s investments in the past year, all of them have been

1,221.6 81.8% Share of Profit from Investments in Associates and JVs 491.3 693.3 202.0 41.1% Total Cost 773.7 1,248.6 474.9 61.4% Gross Profit 603.8 1,314.7 710.9 117.7% Net Profit 334.5 972.4 637.9 190.7

TOTAL LIABILITIES TOTAL SHAREHOLDERS' EQUITY Statement of Financial Position For the Year 2019 (Million Baht) เพิม่ (ลด)2018 6 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 • Investments in subsidiaries

manufacturing and revenue from sale of electricity in the amount of THB 644.63 million and THB 1,026.59 million, accounted for 57.39% and 40.92% of total revenue respectively. The Group recorded THB 1,123.31

earnings before interest and tax, depreciation, amortization, and rent (EBITDAR) were derived from total income (excluding dividend income, gain on sale of investments, gain on sale of assets, interest

by the reduction in non-recurring revenue by 18.67mb or -33.3%. Other Income Other income has increased by 6.89mb or 84.9% to 15.01mb (2018: 8.12mb) as a result of realized gains on investments

0.6% 8.32 - Other current Asset 2.14 0.2% 7.03 0.5% 4.89 228.5% Other long-term investments 569.79 46.4% 565.23 42.3% (4.56) (0.8%) Non-Current asset 325.20 26.5% 429.19 32.2% 103.99 32.0% Total Assets