was 26.2%, slightly decreased from 26.7% in 9M/2020. The decrease was due to the decrease in revenue from sales at a larger proportion than the decrease in overall expenses. • The Company reported net

position for the year 2017 with those of 2016. This report discusses principal changes in the unaudited consolidated financial statements. Overall market environment The Thai economy in 2017 showed clear

position for the year 2017 with those of 2016. This report discusses principal changes in the audited consolidated financial statements. Overall market environment The Thai economy in 2017 showed clear signs

ratio to sales of 16.5%, an increase from the ratio of 6.7%, mainly due to the increase in sales and overall gross profit margin and the decline in selling and admin expenses as a results of strict

EBT of UE (U Sathorn, U Chiang Mai and U Inchantree Kanchanaburi), which contributed THB 59mn and (iii) the improving overall operating performance of all 3 of our hotels in Thailand excluding hotels

) the reduction of room rates to drive occupancy during the non-peak season. The overall occupancy rate decreased by 11% from 1Q 2019, mainly due to COVID-19 situation. 53 hotels out of 57 hotels in the

to 34.82 THB/EUR in 2Q 2020) since the majority of the Company’s hotels earns their revenue in Euro and (ii) the reduction of room rates to drive occupancy during the COVID-19 situation. The overall

. Analysis of Overall Operating Results for the Company and its subsidiary 1.1 Important circumstance during the year In April 2018, the Company acquired 800,000 ordinary shares of Aesthetic Zecret (AT-ZE

and 11.3% YoY to 26,185mn1 in second quarter of 2017 (April-June 2017). Overall advertising spending was weighed down by TV sector (Analogue TV, Digital TV and Cable TV) which has the highest market

DCORP 104/2017 August 11, 2017 Subject: Report on the overall operation for the first six-month of the year 2017 ended June 30, 2017 and the decrease in the overall operation more than 20 percent