contraction led to the decline in manufacturing production and private investment. Together with uncertainties in the trade relationship, weaker global economy, and the Thai Baht’s depreciation. On the domestic

reduce the production costs of the Company’s energy drinks in bottle formats. 2 Gross profits and gross profits margin Gross profits were THB 5,810 million, increased by THB 1,202 million or 26.1

29.40 million or an increase of 13.20 percent from the same period of previous year, due to effective management of production cost and selling expenses. (2) Analysis of Operating Results and

production cost and selling expenses. (2) Analysis of Operating Results and Profitability (2.1) Revenues from Sales and Services Description Year 2017 Year 2016 Increase / (Decrease) Million Baht % of Total

previous quarter. In Thailand, there are industries that are affected by upstream to downstream production chains such as electrical, electronics, auto spare parts and construction industries which are

increase in sales revenue from the same-store sales growth and the increase in number of branches, as well as the decrease in overall expense from increased production volumes (economies of scale). • Gross

in number of branches. In addition, the cost per unit decreased due to the increased production volume (Economy of scale). • Gross Profit margin in Q3/2023 was 66.0%, increased from 64.6% in Q3/2022

addition, the cost per unit decreased due to the increased production volume (Economy of scale). • Gross Profit margin in Q4/2023 was 65.0%, increased from 62.9% in Q4/2022, and Gross Profit margin in 2023

from same-store sales growth and the increase in the number of branches, as well as the decrease in cost per unit from the increase in production volumes resulting in economies of scale. • Gross Profit

Discussion and Analysis for the Quarter Ended on September 30, 2017 2 3. On September 29, 2017, Bangkok Expressway and Metro Public Company Limited entered into the Novation and Debt Repayment Agreement for