excise tax and some higher fixed cost per unit from lower production according to green tea market. Food business Food cost of sales in the fiscal year 2018 was Baht 3,667 million, slightly increased Baht

revenue from the real estate business (excluded revenue from construction service, service income and income from goods sold from subsidiaries) has been decreased and lower than company original estimated

Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1 | Bangchak Corporation Public Company Limited Management Discussion and Analysis of

with net loss of Baht 4.16 million on Baht 8.93 million revenues over the same period in 2018. The change in loss for the quarterly operating result ended on September 30, 2019 is due to lower revenues

business expansion, to accommodate future growth related to automotive parts and accessories in India. - 2 - According to Shareholding Structure in the Joint Venture Company ALP FPI PARTS PRIVATE LIMITED

of the Company For the Year ended December 31, 2018 2017 (Restated) Changes % Revenues : Revenues from sales and services 987.27 930.88 56.39 6.06 Gain on purchase price lower than fair value 130.98

: Million Baht Operating results of the Company For the Year ended December 31, 2018 2017 (Restated) Changes % Revenues : Revenues from sales and services 987.27 930.88 56.39 6.06 Gain on purchase price lower

31 March 2020, the Company has a net profit of THB 30 million or THB 37 million lower than the same period of the year 2019 (2019 Frist Quarter net profit was THB 67 million). The decrease was due to

cooling industry systems from cost-effective management. Other Income Other income is income from other business operations of the Company such as interest income and bad debt, etc. In the second quarter of

had delivery schedule during June and July last year. This result of contract revenue is lower than last year. The improvement of business performance is a consequence of the changes in strategic