domestic sales 24.2% and export sales 75.8%. Gross profit was down from 33.6% to 25.8% due to low margin sale to B2B coupled with the increase in raw material and energy costs. Total expense was Baht 504.6

profit was slightly down from 31.7% to 31.5%. Total expenses were Baht 478.3 million, decreased by 4.8% due to cost control initiatives. As a result, the company reported net profit of Baht 27.2 million

by 28.2%, majorly due to the Covid-19 pandemic situation causing lockdown in many countries that has majorly disrupted of tourism and hospitality industries. As a result, export sales decreased by 30.7

million, as compared to the 2019, Baht 7,427.4 million, decreased Baht 1,371.3 million, due to retained losses from operating. As of 31 March 2020, the company and its subsidiaries have debt to equity ratio

37.09% of the total revenue. Meanwhile, the financial cost amounted to 7.42 million baht, decreasing by 5.46 million bath or down by 42.39% from 12.88 million baht in 2017 due to the loan repayment made

reason for the Company’s net loss was due to lower income from rental and service, an increasing in food and beverage cost and property development cost incurred. Thus, the details of the Company’s

of the Thai baht and the intense competition which caused the exports to shrink from the previous year. Domestic consumption was also affected by high living expenses and household debt, as well as the

14,329.7mn, an increase of THB 3,871.8mn from the previous year • Net debt to Equity ratio3 as of 31 December 2018 equals 0.96 times Operating result Q4/18 and 2018 Revenue and Backlog2 Source of income (Unit

2016, to Baht 459.9 million in 2017 due to the fact that the Company used interest-bearing debt to fund the acquisitions of Utilities and Power projects from WHA Group in 2016. Howover our interest

due to THB 531 million positive change in foreign exchange gain (loss) and higher operating profits. Past Performance Analysis Revenue Analysis Group Sales increased 5% in 2017 at THB 21,551 million