food which famous and being accepted from people around the world. The Company has an expansion plan to open hotel under brand “Hotel Kitch” in major tourist cities in Thailand soon. For the development

million baht or 4.45 percent. Analysis of the consolidated financial performance Statement of Comprehensive Income (Unit : Million Baht) For the quarter ended 31 March Change 2020 2019 Amount Percent

- - 4.8 5.8 20.8% Gross Profit by Segment 465.6 471.6 463.7 (1.7%) (0.4%) 905.0 935.3 3.3% Gross Profit ChangeChange Q2-2021 Q1-2022 Q2-2022 6M-2021 6M-2022 Change Percent Percent Percent QoQ YoY Percent

competitive areas, existing customers were attracted to change an operator by an offering of up to 50% discount for a few months, which caused industry’s ARPU to be pressured. Convergence packages combining

by 29.8% YoY to THB 2,233mn mainly from the expansion of the hotel business through new hotel launches and through new acquisitions • EBITDA and EBITDA margin were THB 509mn and 22.8% respectively

to THB 10,145mn, predominantly due to the increase in revenue from hotel operations as a result of the hotel portfolio expansion and revenue from the sales of Mo Chit Land. • EBITDA reached THB 3,195mn

from 2.3% in the second quarter of 2019, mainly driven by expansion of private consumption, government spending and tourism sector. Meanwhile, exports sector continued to contract caused by uncertainty

commercially launched in September 2019, an increase in financial cost pressured by incremental debt financing to support business expansion which THB 5,357.8m loan facility to the acquisition of Outriggers was

aligned with the expansion of Boonterm Kiosks. Expenses and expenses to revenues from main business 3Q17 3Q16 Increase (decrease) Million Baht % Million Baht % Million Baht % Selling expenses 21 1% 25 2% (4

Microsoft Word - MDA 2017 EN SET Final.docx Page 1 of 5    L-WAVE ENT 28/2018 28 February 2018 Subject: Report on reasons of change to profit (loss) and analysis on operating results by the