refinery margin to shrink. In this quarter, even though the crude oil price situation continues to improve constantly from December 2018, the cost of a proportion of crude oil that was refined within this

purchasing raw water from private source. However, the company was able to save the electricity cost by 61.83 million Baht because the company has stopped transferring water from Nongplalai reservoir to

the total income compared to Q1– 2024. This is because gross margin of the delivered projects in Q2- 2024 decreased due to the competition in ICT industry. In addition, the budget for ICT projects from

Project, OFC ICONSIAM, True Coverage Expansion, Underground Electricity System - Nirvana (Rama9-Krungthep Kreetha). However, the revenue from the business decreased as in 2018 the delivery units of

). Total Gross Refinery Margin (Total GRM) rose 67% YoY and 26% QoQ, while Market GRM lowered from the decreasing production volume. Moreover, the average crude price adjusted upward in the quarter, leading

which are fixed cost still exist and not variable to the income such as animal feed, utilities, water-electricity bill. Therefore, the company has managed to reduce some unnecessary expenses during the

higher electricity costs following to the increasing of sales volume in Chonburi area. Therefore; gross profit margin and net profit margin was down to 45.51% and 25.18% respectively. Return on Equity (ROE

. In addition, Gross Refinery Margin was still at the low level. This has affected the performance of the petroleum related business. However, demand for consumption of finished products see signs of

margin 25% 26% SG&A 50.47 54.97 -4.50 -8% EBITDA 43.86 37.97 5.89 16% EBITDA margin 19% 16% Depreciation and amortization 31.24 30.29 0.95 3% EBIT 12.62 7.68 4.94 64% Finance cost -8.03 -6.96 1.07 15

Change 2018 2017 Gross profit margin 40.90 44.50 (3.60) Selling expenses and administrative expenses to total revenue 40.49 37.11 3.38 Net profit margin 2.64 7.83 (5.19) 1. Total revenue The Company was