six months ended June 30, 2017, primarily due to high efficiency of our new power plants became commercial operation in recent years Normalized net profit (NNP)  Normalized net profit increased 11.8

coping with disruptive technologies. Despite the high competition in power industry, EGCO has successfully expanded its investment as follows; - EGCO expanded its portfolio with new investment in 19.8 MW

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS Q4/2019& FY 2019 MD&A PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q4 2019 and FY2019 Global

. This allows EGCO to explore prospective investment opportunities in the region toward achieving its major investment targets. In 2017, despite the high competition in power industry, EGCO has

lease under a Power Purchase Agreement 104.5 104.9 106.3 1.3% 1.7% 206.9 211.2 2.1% Cost of sales and services (1,191.7) (1,121.4) (1,168.5) 4.2% (1.9%) (2,466.2) (2,289.9) (7.1%) Gross profit 421.6 350.0

** had purchased land for a power plant construction in a corrupt manner to seek unlawful gain. The SEC’s investigation revealed actions that could constitute offenses under the Securities and Exchange Act

all of these projects by 2022 with 5 new power plants with new high-efficiency technology to ensure the continuity in providing high- quality services to industrial users. The strategic movement in the

Thailand due to limited growth prospect for domestic electricity industry. This resulted in the intensified competition in overseas market. Despite the high competition in power industry, EGCO successfully

by relying on consumers’ higher purchasing power. Moreover, retail players need to prepare for E-Commerce business which presents high growth lately. (Source : EIC Outlook Q2/2018) Performance Analysis

the year 2016 was Baht 3,726.68 million. The significant decrease due to the reduction of the revenue construction works of renewable energy power plants projects of private sector. The revenue from