day.  Cua Lo Vietnam Project is scheduled to achieve COD in 3Q2019 with capacity of 13,000 cubic meters per day 5  Reclaimed Water Project Phase 2 (RO) at WHA EIE is scheduled to achieve COD in 4Q2019

wastewater treatment plant 1,500 cuber meter per day 5 Power  1 SPP, namely Gulf NLL2 is scheduled to achieve Commercial Operation Date in 2019.  1 VSPP, Waste to Energy project under construction phase

of Accounting Standard (TFRS 9 and TFRS 16) (2.8) 0.0 N/A Normalized Net Income attributable to Owners of the Parent8 219.0 269.8 -18.8% Key Profitability Ratio: Gross Profit Margin 31.7% 39.9% Net

locations across the country. In terms of Net Marketing Margin, it declined from the previous year resulting from crude oil price in the global market increased during Q1/2019 and Q4/2019, and B100 product

the group which is entitled to develop Tourist Facilities on Emboodhoo Lagoon in the Republic of Maldives, for the part that Boonrawd Group has the right to develop (the "Project Crossroads Phase 2

170.45 142.90 27.54 Gross profit margin 15.33% 13.51% 1.82% Other income 4.77 3.67 1.09 Selling expenses 2.66 4.73 (2.07) Administrative expenses 80.76 84.95 (4.19) Earnings before interest and tax 91.79

Maldives for the part that Boonrawd Group has the right to develop (“Project Crossroads Phase 2”). The total value of the Master Page 2 from 4 Service Agreement is approximately THB 96 million. The term of

to adapt their business plans and working procedures to comply with these policies, particularly the Financial Sector Master Plan Phase III and the National e-Payment Master Plan. The latter includes

Dusit Thani PLC Management Discussion and Analysis For 4Q19 and FY2019 P a g e | 1 Executive Summary 2019 marked our first year in the second phase of the Company’s 9-year strategic journey (2019

investments Table 4: Key Financial Ratios 1Q 4Q 1Q YoY QoQ 2017 2017 2018 Profitability Ratio Gross profit margin (%) 52% 48% 50% (2%) 2% Rent and services 53% 49% 51% (2%) 3% Real estate sales 0% 0% 38% 38% 38