herewith explanation and analysis of the Management as follows. 1. Income, gross profit, net profit Unit : Million Baht 1. Income 2018 2017 2016 Increase (decrease) 2018-2017 1.1 Construction material 219.60

wishes to submit herewith explanation and analysis of the Management as follows. 1. Income, gross profit, net profit Unit : Million Baht 1. Income 2018 2017 2016 Increase (decrease) 2018-2017 1.1

plants had shutdown hours to improve the power plants machinery’s efficiency in the third quarter of 2022 higher than the second quarter of 2022. Gross profit decrease 6.5% YoY from Baht 496.5 million to

the third quarter of 2018, Sales stood at 2,101.1 million baht or an decrease of 308.3 million baht or 12.8 percent decline as compare to the same period last year. For 9- months period of 2018, the

%. 4. Finance cost was Baht 98.21 million, a decrease of Baht 26.26 million or down by 21.10%, due to the lower cost of debt from refinancing bond issued in the second quarter of year 2017 and first

of electricity generation capacity and 30 tons per hour of steam generation capacity with the project cost of approximately Baht 3,105 million (the debt proportion is approximately 75 percent and the

. Management’s Discussion and Analysis (MD&A) For Q3/2017 13 Appendix Unit : Million Baht 3 rd Quarter 2017 3rd Quarter 2016 % Increase (Decrease) Income Revenue from sale of goods 3,292 2,897 14% Gain for debt

Interest-bearing 7 Debt in 2017 was Baht 7,338.8 million, decrease from Baht 10,273.9 million in 2016 presenting the Net Interest-bearing Debt-to-Equity ratio of 0.58x. As a result, our 2017 EBITDA stood at

)% 53,878 52,953 1.7% Non-interest income 12,295 13,534 11,321 (9.2)% 8.6% 36,145 39,385 (8.2)% Operating expenses 12,679 14,108 12,878 (10.1)% (1.5)% 38,975 38,832 0.4% Impairment loss of loans and debt

decreased from Q4–2021, representing a decrease of 221.1 MB or 13.6% and it also decreased from Q1–2021, representing a decrease of 425.0 MB or 23.3% mainly because during the Q1-2022, the delivered projects