Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary CPN’s total revenue and net profit continues to grow according to its business plan

from slow investment from private sector and export sector. Additionally, Thailand’s tourism has shown slow pace from a drop in international tourist arrival, especially Chinese tourists (Source: The

reported its 2017 consolidated net profit at THB 13,568 mn, an increase of 46.8% from the same period in the previous year (YoY). Total revenues stood at THB 34,594 mn, an increase of 18.3% YoY. Excluding

% 1,242.4 48.2% Costs of services (1,469.3) (57.0%) (2,490.4) (65.2%) (1,021.1) 69.5% Gross profit 1,106.4 43.0% 1,327.7 34.8% 221.3 20.0% Selling expenses (239.0) (9.3%) (366.3) (9.6%) (127.3) 53.3

the one- time expense, normalized EBITDA in 2Q19 was Bt19,753mn, increasing 4% YoY and 4. 5% QoQ, while normalized net profit was Bt8,234mn, increasing 2.9% YoY and 8. 1% QoQ. In conclusion for 1H19

801 106 13% Cost of sales and services -789 -621 168 27% -682 -608 74 12% Gross Profit 248 235 13 5% 225 193 32 16% Other Income 5 0 5 1,701% 14 7 7 117% Selling expense -81 -70 11 16% -71 -61 10 17

3.73% of registered capital 6. Shareholders’ structure  Before capital increase 1. O.C.C. Plc. 6.43% 2. I.C.C. International Plc. 30.00% 3. Saha Pathana Inter-Holding Plc.* 0.00% 4. IDF Co., Ltd.* 0.00

) Intermediaries ( 6 ) IPO ( 5 ) Market Professionals ( 5 ) International Relations ( 2 ) Toward International Excellence ( 2 ) Takeover ( 1 ) More >> Documents Adobe PDF ( 1,329 ) aspx ( 116 ) Microsoft Word ( 36

) Market Professionals ( 4 ) International Relations ( 1 ) Takeover ( 1 ) Toward International Excellence ( 1 ) More >> Documents Adobe PDF ( 1,646 ) aspx ( 186 ) Microsoft Word ( 52 ) Microsoft Word X ( 7

increased on the back of a larger number of both domestic and international clients. On the contrary, the revenue from TV production and post-production businesses declined. The details are shown on the