Revenue from rail business 1,266 1,218 48 3.9 Revenue from commercial development business 199 167 32 19.2 Total revenue from main business 4,073 3,946 127 3.2 Interest income from the MRT Purple Line

Change Amount % Change Total Revenues 7,792 7,550 242 3.2% Sales and service income 7,624 7,300 324 4.4% Gains on Exchange rate 69 175 -106 -60.3% Other Income 99 75 24 30.8% Cost of Sales and Services

Investments in Power Associates 961.9 1,926.5 964.5 100.3% Utilities income during the year of 2017 was THB 2,075.2 mm, which increased by THB 71.2 mm or 3.6%, compared to the same period of last year. If

for 2Q/2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 06 Statement of Income 08 Business Performance 08 Refinery

income, and the lagging recovery in household purchasing power. Regarding Thai monetary policy, the Bank of Thailand’s policy rate is expected to stay at a low 1.50 percent for the entirety of 2017 through

Operation for 1Q/2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 05 Statement of Income 07 Business Performance 07 Refinery

Cost of sales and services (1,162.99) (892.84) (3,358.10) (3,111.44) Gross Profit 276.37 337.83 969.38 629.01 Gain/(Loss) on exchange rate (25.11) 20.66 (21.27) 30.44 Other Income 22.53 46.57 94.50

of the year 2017. The significant decreasing came from the reduction of the revenue construction works of renewable energy power plants projects in private sector according to industrial sector was

7.2 519 4.1 1,583 8.6 164.2 (13.3) Net profit 1,756 9.2 828 6.5 1,581 8.6 112.1 11.1 EPS (Baht) 1.41 0.66 1.27 Sales revenues and service income of this quarter totaled 19,039 million baht, rose up 49.3

the previous year, mainly due to the sharp lower of purchasing power in most industries, as well as the strong competition in the stainless steel pipe, aluminum and copper. This caused the decreasing in