achieve efficiency gains in the operations. Together with the planned revenue growth, the cost management initiatives should help the Company to continually improve its overall gross profit margin. Moreover

attributable to Equity holders of the Company 4,913 4,834 79 1.6 Basic earnings per share (Baht) 0.32 0.32 - For the nine-month period of the year 2019, the Company had the net profit attributable to equity

: Overall Financial Performance Unit: million baht Jan-Dec 2018 % Jan-Dec 2019 % Change % YoY Revenue 523.23 100.0% 613.86 100.0% 90.63 17.3% Cost 285.52 54.6% 332.39 54.1% 46.87 16.4% Gross Profit 237.71

31, 2020 as follows: The Company reported net loss for the first quarter 2020 of Baht 7.49 million, comparing with the same period last year which had net profit of Baht 0.98 million, decreasing by

million from the previous year, because an increase of the earnings before tax from the operating in the amount of THB 30.3 million (excluding the one-time profit) The Company and its subsidiaries have cash

-2.2 % Operating profit 9,394 8,905 9,807 4.4 % 10 % 38,179 36,960 -3.2 % Net foreign exchange gain (loss) 163 -231 572 251 % -347 % -646 -37 -94 % Other income (expense) 196 62 26 -86 % -57 % 986 489

Management Discussion & Analysis (MD&A) Q2/2018 Executive Summary Executive Summary For Q2/2018, Global Power Synergy Public Company Limited (GPSC) (“the company”) had a net profit of Baht 1,052 million

64.81 79.00 14.20 21.91% Cost of rendering of services (51.03) (56.57) (5.54) 10.86% Gross profit 13.78 22.43 8.65 62.81% Other income 0.30 1.37 1.07 356.61% Services expenses (1.20) (1.24) (0.04) 3.27

clarifies the performance as follows: During the first quarter of 2020, the Company had the total revenue and share of profit and net profit of THB 1,277.8 mm and THB 99.3 mm, respectively. If excluding FX

1.09 million from the same period of 2017. This was due gain on short- term investment of THB 0.77 million. Costs and Gross Profit 1. Program Rights Business Costs of program rights business consist