% Finance cost (37.7) (29.8) (38.6) 26.5% (2.3%) (115.3) (91.9) 25.5% Income tax expenses (73.2) (79.5) (63.3) (7.9%) 15.6% (219.7) (264.0) (16.8%) Net Profit to Equity holders of the Company 271.8 294.6

nearly the whole quarter, hence the maintenance cost will increase and the revenue from Availability Payment (AP) will drop. Likewise, Rayong Central Utility Plants and IRPC-CP will have the scheduled

quarter of 2018) as follows: Unit : million baht Q4/17 Q3/18 Q4/18 Change +/(-) QoQ % YoY % Net Revenue 191.39 271.57 244.40 -27.17 -10.01 53.01 27.70 Cost of Goods Sold 180.66 217.04 200.32 -16.72 -7.71

2018 (4th quarter of 2018) as follows: Unit : million baht Q4/17 Q3/18 Q4/18 Change +/(-) QoQ % YoY % Net Revenue 191.39 271.57 244.40 -27.17 -10.01 53.01 27.70 Cost of Goods Sold 180.66 217.04 200.32

targeting market in Trang and nearby provinces in order to gain larger market share. Cost of Hospital Operations The cost of hospital operations for the year 2016 and 2017 were in amounts of Baht 360.24

percent with gross profit margin of 35.5 percent (35.9 percent in Q1/2018). The increase of gross profit was the result of low overhead cost due to high production volume and Sales increasing.  Sales

equivalent decreased Baht 97.38 million mostly for purchase of fixed assets. In Thailand, the company invested new medium booth to support new customer orders which will launch to commercial in the 2nd half of

/2017 by 6 MB or 24.1 percent (25 MB in Q1/2017) mainly decreased from Consultant Fee, Accounting Software Amortization etc.  Finance Cost Q1/2018, the Company and its subsidiaries have the financial

Income 235.16 1.41 329.90 1.94 318.24 1.85 Total Revenue 16,701.67 100.00 17,022.92 100.00 17,246.71 100.00 Cost of Sales (14,463.26) (86.60) (14,191.28) (83.37) (14,150.92) (82.05) Selling and

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE In