or ROA 16 (%) 8.32 10.56 10.43 Return on Fixed Assets 17 (%) 23.25 25.92 25.51 Total Assets Turnover 18 (times) 1.16 1.09 1.03 Leverage Ratio Debt/Equity Ratio 19 (times) 0.59 0.50 0.43 Net Debt to

future. Business wise H1 2019 was challenging particularly in the most recent quarter. Business sentiment in multiple industrial segments important to us has been impacted by the macro economy and the

EBITDA/t (US$/t)) 122 107 91 34% 105 86 22% Net Operating Debt to Equity 0.57 0.84 0.91 (37)% 0.57 0.91 (37)% Note: (1) Consolidated financials are based upon elimination of intra-company (or intra

% Core EPS after PERP Interest (THB) 0.85 0.67 1.31 (35)% 3.67 3.86 (5)% Core EBITDA/ton ($) 115 102 153 (25)% 119 132 (10)% Operating Cash Flow5 385 261 222 73% 1,172 855 37% Net Debt to Equity (times

188 61% 1,037 853 21% Net Operating Debt to Equity (times) 0.53 0.45 0.57 (7)% 0.53 0.57 (7)% 1Consolidated financials are based upon elimination of intra-company (or intra-business segment

. Continued elevated levels of household debt will likely contribute to a contraction in private consumption, while private investment is also expected to fall as the business sector delays investment in order

long-term loan from financial institution at 7.72 MB, repayment for Management's Discussion and Analysis and operating results for the Year 2017 Page 6 / 10 debt to account payable for the order at the

participation and key roles in the international arena. This meeting is an important platform for APRC members to discuss and exchange views on various topics related to capital market development and

succeed without having efficient internal units comprising (1) company secretary having duty to monitor the company and its executives to comply with laws and keeping important information, (2) internal

sufficient information by concealing important information that might adverse affect the client's benefits. Following the report of UOB Kay Hian Securities (Thailand) Plc. and a client complaint, the SEC