for the use of spectrum, towers, and equipment. Overall, we expect the consolidated EBITDA margin to improve and stay in the range of 42-44%. The total cash CAPEX (excluding spectrum payment) is

new flavors under Carabao Energy Drink Mandarin Orange. 2 Gross profits and gross profits margin Gross profits amounted to THB 1,003 million, rose by THB 125 million or 14.2%, representing gross profit

Baht 171.9 million. The claim was compensation from the event of damaged machinery during the test run, before COD, and the Plant is COD in 2016. 5 Gross Profit and Gross Profit Margin Q1-2021 Q2-2021 Q3

EBITDA margin was 18.6%, a slight decline from 18.8% in 2016. In 2017, depreciation and amortization decreased by 11.6% yoy to THB 536 million, due to the change of estimated useful life of the assets

288 261 -9.3% 49.4% Adjusted net profit3 192 305 304 -0.6% 58.4% Gross profit margin 58.2% 64.0% 63.6% EBITDA margin 41.4% 46.4% 47.1% Adjusted EBITDA margin 42.3% 47.4% 50.3% Net profit margin 20.5

% 13.5% EBITDA 444 507 501 -1.2% 12.9% EBIT 333 384 380 -1.1% 14.1% Interest expenses 25 15 18 18.6% -27.8% Tax 83 82 76 -7.3% -8.6% Net profit1 202 261 260 -0.4% 28.8% Gross profit margin 60.4% 63.6% 55.5

previous year have ended and the competition has intensified in the stainless pipe product. As a result, sales and gross margin declined in the current quarter. While administrative expenses have increased

248.11 11.03 4.45 Non-controlling interests 36.88 35.10 1.78 5.07 Gross Profit Margin 30.44% 30.54% Operating Profit Margin 16.97% 16.66% Profit before Finance costs, Tax expense, Depreciation and

Bt5,792mn, growing 10% YoY, despite global economic challenges and political uncertainties in Thailand during 2Q-3Q23. The emphasis was on high- margin services beyond connectivity with enhanced technology

2017 while gross profit margin contributed of 14.32% in 2018, decreased from 16.41% in 2017. GFPT Public Company Limited Management Discussion and Analysis for the Year 2018 Page 4 of 14 Other Income The