Expenses was 334 MB, increased by 74 MB or 28.4% comparing to 2016 due to related expenses of the transitional service agreement between Solvay and AGC, plus higher transportation and commission costs from

, which came from costs of sales, distribution costs and administrative expenses control, Change in recognition of depreciation of right-of- use asset pursuant Thai Financial Reporting Standards No. 16

58.0 42.1 37.8 104.4 74.7 39.8 Finance costs 4.7 5.1 (7.7) 9.5 9.7 (2.1) Total expenses 458.3 504.6 (9.2) 885.0 903.0 (2.0) Ocean Glass Public Company Limited Page 3/4 Management Discussion and Analysis

) (72.8 %) (938.8) (73.3 %) (13.9 %) Gross Margin 301.9 27.2 % 341.5 26.7 % (11.6 %) Distribution Costs (129.5) (11.7 %) (162.3) (12.7 %) (20.3 %) Administrative Expenses (78.5) (7.1 %) (87.5) (6.8 %) (10.2

utility expenses, insurance, and power development fund. In Quarter 1 of 2020, costs of sales amounted to THB 1.56 million, a THB 0.05 million or 3.25% increase from the same period of the previous year

% Other Income 115 77 38 49% 88 104 - 16 -15% Distribution costs 359 311 48 15% 276 266 10 4% Administrative expenses 594 650 - 56 -9% 441 509 - 68 -13% Finance cost - Interest expenses 49 41 8 20% 34 28 6

more popularity than the same period last year and branch expansion. Expenses In consolidated financial statement of the 1 st quarter of 2019 financial statement ended on 31 st March 2019, costs of

-1,604 450.22% Administrative expenses -15,501 -9,546 -5,955 62.38% Other expenses - -849 849 -100.00% Total expenses -44,353 -38,460 -5,893 15.32% Profit before finance costs and income tax 12,876 7,312

expenses 2/ 291.0 271.0 243.3 -16.4% -10.2% 606.3 514.3 -15.2% Finance costs 48.1 84.7 77.3 +60.5% -8.8% 88.0 162.0 +84.1% Other expenses (reversal) 0.0 0.0 0.0 - - 0.0 0.0 - Profit before income tax

) 13.82% Administrative expenses (11.29) (7.77) 3.51 -31.13% Share of gain of investments in associate 0.03 0.03 0.00 0.25% Finance costs (0.08) (0.06) 0.02 -22.49% Profit before income tax expense 30.31