baht. The total income was selling and administrative expense was expense was 63.57 million baht. 43,209.91 million baht and the total equity was For the Separate financial statements, the Company had

and the increase in other current liabilities 0.6 MB and the increase in employee benefit obligations by 8.0 MB.  Shareholders' Equity As of December 31, 2019, the Company and its subsidiaries had

Q1/2017 due to the declining in raw water sales volume) and Net profit attributable to Equity holders of the parent company was 302.67 million Baht, decreased by 61.26 million Baht or 16.83% compared

decrease by 75.88 million Baht or 2.47% compared to same period of 2017) due to the declining in raw water sales volume and net profit attributable to Equity holders of the parent company was 881.03 million

strong with low debt-to-equity ratio and high current ratio. P a g e | 3 - Management Discussion and Analysis 1Q2020 - 4,346 1,714 2,942 881 1,102 900 83% 17% 61% 39% 77% 23% 1Q2020 1Q2019 4Q2019 2,816

’ equity Total shareholder’s equity as of December 31, 2018 was 1,119.64 mb, increasing by 75.20 mb or 7.2%. This is in line with the increase in operating profit for 2018. T.662 636 6999 F.662 646 4200

baht, respectively, increasing by 129.72 million baht or 39.17 percent compared to the year. Before Caused by increased revenue Therefore increasing the cost of service and because Euroasia Total

% mainly due to increasing supplies expense, dentist remuneration, laboratory expense and employee’s salary was adjusted because of the minimum wage effect By Baht 4.00 million, Baht 17.15 million, Baht 3.11

Bath 53.10 million, increasing at Baht 15.74 million or 29.64% compared to the year 2018. 1.2.1 Gain on disposal of investment property amount of 40.54 Baht million, In 2019, the Company and its

87.51 million. Profit increased from the year ended 2018 by Baht 168.54 million mainly due to an increasing of gross profit from business operation amount Baht 189.16 million. Overall of the Group’s