year 2018, in line with decreasing revenue from commerce. 7. Distribution cost For the year 2019 and 2018, the Company had selling expenses of 11.7 million Baht and 20.5 million Baht, respectively

Financial Cost Second quarter of 2019 The Company financial expenses of 8.32 million baht, which are in line with the first quarter the year before by the financial expenses. Mostly caused by borrowing

equity holders improved significantly compared to last year, attributable to increased earnings, higher share of profit from associate companies, and lower financing costs. In Q1 2017, the Company had

increase in OKEA will occur around the fourth quarter of 2018. The Company expects to enter into the share subscription agreement in November 2018 and further enter into the shareholders agreement, including

same period in 2016 and decreased by Baht 31.60 million or 17.04% when compared with that in 1Q17. Such decrease was in line with a decrease in sales volume. In 1H17, the Company recorded the cost of

margin fell to 1.7% (1Q 2019; 9.0%) • Reported net loss of THB 807mn (down 238% YoY), from the aforementioned lower EBITDA as well as higher share of loss from joint ventures and higher depreciation and

million, reduced by Baht 222.83 million or 17.62% mainly due to employee-related expenses. Share of profit from investments in associated companies For the first six months of 2020, the Company and its

Ref. WINNER 0009/20108 Page 1 of 8 Disclosures on the asset acquisition of Winner Group Enterprise Public Company Limited on share purchase of Aesthetic Zecret (At-Ze) Company Limited (Schedule 1

2018 MDA_ENG (rev 18 2 2019) Ocean Glass Public Company Limited Page 1/ 6 Management’s Discussion and Analysis Ocean Glass Public Company Limited Management’s Discussion and Analysis Performance for

as the Company has more effective policy to collect debts. Furthermore, the selling expenses such as shipping fees dropped in the same line with the decreased in sales in the period. The loss on