) Revenue structure + (-)2018 3 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 Revenue from steel tower manufacturing decreased by 37.21% as a result of rescheduling of production and delivery plan by major

FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based

of the year 2017. The significant decreasing came from the reduction of the revenue construction works of renewable energy power plants projects in private sector according to industrial sector was

the start of mass production of this product this year to serve Asia market. In addition, Merchant Power (MPBG) sales rose 12.0% from 2016 and 24.5% from 2015. The company has developed more variety of

the Republic of Indonesia, with the production capacity of 275 megawatts and 20-year Power Purchase Agreement. The Commercial Operation Date is expected to be within the year 2021. 1.1.4 MRT Pink Line

ceasing of the Zinc operations, total sales volumes in Q4 2017 dropped by 7% from Q4 2016. The sales volumes of imported metals, at lower margins than the PDI’s own mine production, reached 52% of total

due to the efficient cost management in the production of electricity and steam from the Cogeneration power plants. Throughout Q1/2018, the Sriracha Power Plant, which is a Independent Power Producer

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result for the Fiscal Year Ended December 31, 2018 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS MD&A Q2/2019 PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q2 2019 For Q2/2019, the EBITDA of the

1,809.44 million, a net profit of Baht 135.29 million due to the revenue from the sale of leather products for car seats decreased from the number of production cars according to the model received. In