service income 10,257 8,156 25.8% 9,933 3.3% EBITDA 2,413 2,218 8.8% 2,202 9.6% Net profit 835 1,203 -30.6% 280 198.2% Net profit - Owner of the parent 532 723 -26.4% 130 309.2% Normalized net profit (NNP

methods, its presentation may not be comparable to similarly titled measures used by other companies. 8 ASIA’S BOUTIQUE AIRLINE Operating Profit and Net Income The operating revenue of the Company for the

15.3% Administrative Expenses (34.5) (8.4) 308.8% Finance Costs (76.9) (93.7) -17.9% Share of Profit from Investments in Associates and Joint Ventures 339.2 659.2 -48.5% Income Tax Expense (6.3) (6.8

40,522.7 41,059.4 41,849.0 43,575.1 Total Revenues Million Baht 7,518.8 6,003.9 7,981.7 7,681.7 Cost of Goods Sold Million Baht 2,581.9 2,519.8 2,934.6 2,588.0 Net Profit Million Baht 4,903.6 4,500.8 5,202.0

Dec 14 31 Dec 15 31 Dec 16 Income From Sales 1,111.63 1,294.32 1,454.45 Sales Expanses (1,021.30) (1,121.42) (1,262.34) Gross Profit 90.33 172.90 192.11 Other Income 4.48 1.78 4.66 Profit before

1.44 1.66 -0.22 -13.3% Income tax expenses -67.95 -54.32 -13.63 25.1% Net profit 270.07 218.99 51.08 23.3% Minority interest in subsidiary -61.88 -42.43 -19.45 45.8% Net profit of the Company 208.19

in associate 2.14 1.44 0.70 48.6% Income tax expenses -49.39 -67.95 18.56 -27.3% Net profit 200.70 270.07 -69.37 -25.7% Minority interest in subsidiary -57.11 -61.89 4.78 -7.7% Net profit of the

Gross profit 94,309 91,490 83,320 10,989 13.2 Other income 2,454 2,858 1,453 1,001 68.9 Profit before expenses 96,763 94,348 84,773 11,990 14.1 Selling and distribution expenses 25,061 22,708 23,815 1,246

Management Discussion and Analysis for the year 2021 4 Core Operating Profit (defined as Earnings before Interests and Taxes exclude interest income, gain (loss) on exchange rate and other irregular items) for

Socatiyanurak, SEC Secretary-General said that ?The SEC ordered RICHY to amend information in the registration statement by making comparison of the price-earnings (P/E) ratios of the company with the industry