10% Cost 1,631 1,509 Gross profit 209 164 45 28% Gross profit margin 11.3% 9.8% Other income 6 2 4 246% Selling & Admin expenses 123 121 2 2% 6.7% 7.2% Cost and expense from delayed project 57 (57

than previous assessment at 4.0%. Moreover, the growth outlook still challenge with uncertainties from both domestic and external factors due primarily to 1) Trade protectionist measures between US and

than previous assessment at 4.0%. Moreover, the growth outlook still challenge with uncertainties from both domestic and external factors due primarily to 1) Trade protectionist measures between US and

growth outlook still challenge with uncertainties on the external front, especially US trade protectionism and the retaliatory measures of US trading partners, and the lower-than-expected growth of

growth outlook still challenge with uncertainties on the external front, especially US trade protectionism and the retaliatory measures of US trading partners, and the lower-than-expected growth of

Group Public Company Limited is assigned the credit rating at “BBB+” with “Stable” outlook by TRIS Rating. Analysis of Operating Results In the third quarter of 2020, the operating results of the company

2017/18 2018/19 Liquidity Ratios 31-Mar 2018 31-Mar 2019 Efficiency Ratios Leverage Ratios   MANAGEMENT OUTLOOK Advertising Payment Logistics

Profitability Ratios 1Q 2018/19 (Restated) 1Q 2019/20 Liquidity Ratios 31-MAR 2019 (Restated) 30-JUN 2019 Efficiency Ratios Leverage Ratios  MANAGEMENT OUTLOOK

previous quarterly To: The President The Stock Exchange of Thailand Thailand's economic outlook for the year 2018 is likely to be bright. After seeing a clear recovery in the last quarter of last year

Ratios Leverage Ratios  VGI PUBLIC COMPANY LIMITED MANAGEMENT OUTLOOK