COVID-19 environment. Nonetheless, the sales declined -14% QoQ following the seasonality of iPhone14 sales period in Q4. The sales margin increased to 1.8% due to a higher mix of high-margin handsets. SG

Management’s Discussion and Analysis For the Financial Results of Quarter 2 Year 2017 Ended June 30, 2017 1 ABBREVIATION ADB = Asian Development Bank COD = Commercial Operation Date EBITDA = Earnings

renovation of three hotels under Dusit Thani brand, and caused by a temporarily weaker demand from catering and convention during the mourning period and the royal funeral of King Bhumibol Adulyadej. Earnings

subsidiaries offsetting while the Company recognized THB 123 million revenue from new business. Earnings before Interest, Tax, Depreciation and Amortization (“EBITDA”) reported THB 222 million decrease 52.3

% -2.1% - Basic earnings per share (Baht/share) 0.03 0.06 0.05 0.07 (0.03) (56.8) Net profit margin 3.1% 6.6% 5.8% 7.4% -3.5% - Page 2 of 11  Sales and service income Table 2 : Sales by Product Type for

percent, due to the increase in gross profit margin of 3.23 percent despite the increase in selling and administrative expenses of 3.59 percent. The Corporate Group’s net earnings per share was Baht 0.15

Sales 9,643.6 10,351.4 9,933.1 Gross margin, (%) 20.3% 26.0% 30.0% Selling &Administration 1,612.8 1,804.3 1,817.6 Net Profit 934.5 2,014.9 -53.6% 2,544.5 -20.8% 7.7% 14.4% 17.9% The year 2019 continued

baht 10,474 12,123 12,547 Gross profit margin (%) 20.47% 22.84% 25.49% ratiosConsolidated financial 2019 2018 2017 Financial data and profitability ratios (continuous) Operating expense (including

) -45% 10% Profit attributable to owners of parent 1,168 (1,546) 214 -82% 114% Basic earnings per share (Baht) 0.85 (1.12) 0.16 Note: 1/ EBITDA from Refinery Business of the Company, BCP Trading Pte. Ltd

11.86% Finance cost 19.72 18.41 (1.31) (6.64%) Income tax expenses 17.98 22.21 4.23 23.53% Net profit 70.57 80.50 9.93 14.07% Net profit ratio (ROS) 20.41% 18.98% Earnings per share (Baht) 0.13 0.15 0.02