rate was 9.6. This is because in Q3-2023, the Company had a significantly lower gross profit margin than Q3-2022, net of reserves recorded in Q3-2022. The Company recorded an allowance for expected

% Gross profit margin* (%) 20% 27% 29% 2% 9% Net profit margin (%) 14% 16% 18% 2% 4% Management Discussion & Analysis Management Discussion & Analysis (MD&A) Q1/2018 Management Discussion & Analysis The

Service Project in Remote Area and The New Parliament Project in Information and Communication Technology. In addition, there are some large-scale projects which had just received and delivered in Q2–2019

Bangkok and vicinity responded with mixed signals, the Company’s projects were well received from our customers. The most recent completed project, The Lofts Asoke, started to transfer to our customers in

2016, the plant had generated a higher profitability in 2017 than in 2016. Furthermore, in 2017 GPSC received dividend income from Ratchaburi Power Company Limited (RPCL) amounting to Baht 270 million

membership card, “Bangchak Green Miles” debuted, and Bangchak Mobile Application which provide customers with convenience and swiftness was introduced. However, net marketing margin declined from the

the second rank, and continues to consistently thrive with the cumulative market share of 2018 at 15.8%. Net marketing margin was within proximity of 2017 levels, although was affected by the

50,349 55,469 77,389 57,523 (5,120) (9.2) Income tax expenses 10,107 12,162 15,412 11,875 (2,055) (16.9) Profit for the period 40,242 43,307 61,977 45,648 (3,065) (7.1) Gross profit margin 22.9% 24.6% 22.9

increasing in some expenses such as maintenance. However, gross profit margin just slightly dropped to 58.17% since the company was able to save the electricity cost from stop transferring water from

reliance on sales in China. At present, the Company’s products are well- received in the Philippines but still could not make up for the slowdown in sales in China. The Company is committed to expanding