for sale business in Q1/2020, decreased to THB 323.4mn from THB 989.3mn in Q1/2019, in line with the decrease in sales. The costs of sales for F&B business decreased to THB 2.5mn, from THB 3.0mn in Q1

(39.66) (6.45) Costs and Expenses 554.34 579.71 (25.37) (4.38) Profit (Loss) -Net 18.11 30.02 (11.91) (39.67) Income of Sale and Administration Transaction For the Year ended 31st December (Unit: Million

expenses 6.73 0.30% 4.88 0.27% 1.85 37.91 Share of losses from associates 0.27 0.01% 0.00 0.00% 0.27 100.00 Income tax 20.77 0.94% 26.23 1.43% -5.46 -20.82 Net profit 43.95 1.98% 113.72 6.21% -69.77 -61.35

) that grew by 18% Q-o-Q and 81% Y-o-Y (Table 5), which on the other hand caused a reduction in production efficiency. Furthermore, as total production volume decreased, product costs rose, all of which

utilization, which was partially offset by a lower cost of the copper (Table 2). Furthermore, as the majority of factory burden costs are fixed, whereas total production volume decreased, which resulted in a

the same period the previous year. Selling expense, such as freight costs and sales commissions, decreased in line with lower sales. Administrative expense decreased mainly because of an adjustment of

previous year because of its capability of better management of service costs. The net profit (loss) for the year 2019 reduced from the previous year is resulted from: 1. In the year 2019, the Company sold

1.27 N/A 0.58% 0.00% Distribution costs (41.75 ) (24.14 ) (17.61 ) 72.95% (19.11%) (13.74%) Administrative expenses (95.74 ) (94.34 ) (1.40 ) 1.48% (43.82%) (53.71%) Other Expenses Impairment loss of

534.6% Share of profit (loss) from investment in an associate and joint ventures (50.2) (2.9%) (158.8) (13.8%) (108.6) (216.3%) Finance costs (Interest expenses) 205.5 11.7% 196.8 17.1% (8.8) (4.3

projects. Cost of Sales Cost of real estate sold in 3Q19 increased to THB 371.8mn from THB 224.2.5mn in 3Q18, due to the increase in revenue from transferred of real estate. The costs of F&B business