Profit / Cost of Sales Analysis and Sales and Administration Analysis The Gross Profit margin was 6 percentage points lower at 12% in Q319 down from Q318 at 18% due to reduced economies of scale from lower

% 4% 100% 100% 100% 100% 100% Gross Profit / Cost of Sales Analysis and Sales and Administration Analysis The Gross Profit margin was 7 percentage points higher at 15% in Q120 up from Q119 at 8% due to

increase of number of Thai and foreign tourists. As a result, the service sector and private consumption have expanded. Private investment has improved while Public expenditure shrink from regular government

from the same period of last year at 16.83% due to the declining in sales but the Company still had fixed cost. Moreover, the depreciation was higher from machine acquisition and plant and equipment

supporting factors were the return-to-expansion of export goods and private final consumption expenditure. In addition, the relaxation of the COVID-19 restrictions resulting in the number of foreign tourist

the first time. The economics of scale has already improved and the synergetic effect between both companies will increase throughout 2019 particularly on the fixed cost side. EBITDA in Q1 2018 improved

the second half of the year. However, government expenditure was slightly decline as well as the contraction on agricultural and construction sector. The Thai economy in 2018 is expected to expand more

14,195.4 13,797.5 +2.9% 12,448.8 +10.8% [ Sales Revenue, USD $420.4 $394.0 +6.7% $364.9 +7.9% ] Cost of Sales 9,933.1 8,985.0 8,535.0 Gross margin, (%) 30.0% 34.9% 31.4% Selling&Administration 1,817.6

from the year 2017. This is because the government expenditure budget focused on the infrastructure and transportation, while the expenditure in information communication technology did not increased

-Y [2Q18 VS 1Q18] [2Q18 VS 2Q17] FX: THB/USD 31.575 31.529 34.172 Sales Revenue 3,643.3 3,440.2 +5.9% 3,663.5 -0.6% [ Sales Revenue, USD $115.4 $109.1 +5.8% $107.2 +7.6% ] Cost of Sales 2,628.9 2,551.4