regard, such attendance shall continue from the previous one and shall be required at least once every two calendar years as from the calendar year of passing the course, or (b) having attended a full

income until the gross profit being reported differently from the previous periods PAGE 2 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1 2019 The Proportion of Gross Profit in Q1/2019 Operating performance by

% 2. ECONOMIC SITUATION Thai economy in Q2/2019 moderated from previous quarter. The global demand weaker from protectionist trade policies between the US and China, which effected to export sector

the previous factory to the new factory complex located on Bang Pakong district, Chacheongsao province amounted to THB 6 million and consulting fees in related to the overseas businesses amounted to THB

thanks to the economies of scale and efficiency in cost management which reduce production cost per unit of energy drink in both bottle and can format as compared to the previous quarter. Cost of goods

compared to the previous quarter. Cost of goods sold of the Group for the 3-month period ending 30 June 2018 could be divided in to two key components as follows: 1. Variable cost component which shall be

compared to the previous quarter. Cost of goods sold of the Group for the 3-month period ending 30 June 2018 could be divided in to two key components as follows: 1. Variable cost component which shall be

compared to the previous packaging size of a 330 ml. The new energy drink is not only expanding the customer base to younger generations, being a constructive factor to refresh the brand image of Carabao in

cash equivalents 2) Leverage Q3 and FY use annualized EBITDA for the previous 4 quarters 3) ROFA = (Net profit + Depreciation)/ Average (current quarter and end of last year) of property, plant and

million baht, an increase of 76.50 million baht or 4.42 percent from the previous year, mainly due to an increasing of Doctor fees in the amount of 31.66 million baht and Personnel expenses in the amount of