1 (Translation) MD. 107/2018 August 8, 2018 Re: Management Discussion and Analysis For the Operating Results ended June 30, 2018 To: President The Stock Exchange of Thailand Management
% Core EPS after PERP Interest (THB) 0.85 0.67 1.31 (35)% 3.67 3.86 (5)% Core EBITDA/ton ($) 115 102 153 (25)% 119 132 (10)% Operating Cash Flow5 385 261 222 73% 1,172 855 37% Net Debt to Equity (times
operating loss and the lack of liquidity since 2008, the Company did not have sufficient funds to operate its business and had to cease the production of hot rolled coil, which further resulted in the
continuity of our electricity and utilities supply system such as implementation of Business Continuity Plan (BCP) and Work from home arrangement for supporting staff and preparation of safe house for field
%) but is in-line with the business plan. Gross profit ratio stood at 47.5% whilst operating profit ratio stood at 32.3%. Gross Profit Ratio & Operating Profit Ratio In 3Q18, CPN’s gross profit ratio
3.15 26% Core EBITDA/t (US$/t)) 111 122 90 23% 110 89 24% Net Operating Debt to Equity 0.54 0.57 0.88 (39)% 0.54 0.88 (39)% Note: (1) Consolidated financials are based upon elimination of intra-company
the Vietnam market – the fastest growing country in Southeast Asia. Within the domestic market, MACO has strengthen its media portfolio by integrating media operations in Thailand with Plan B Media
plan. Plus, there were also sales compensation for branded product as well as selling expenses recognition from LQSF which recorded selling expenses to sales of 26.7%. 2018 Selling Expenses The Company