improve the sales and ownership transfer volume of the Company. In 2019, the net profit of the Company and subsidiary companies has increased from that in 2018 because of better operational efficiency. The

and providers of real estate services. The main focus is put on the quality of life of residents managed with “Livable Community” strategy. In 2020, the operational guideline of the Company has been

Microsoft Word - MD_A_Q12020_EN final 1 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Operational Summary in 1Q20 (Affected from Covid-19 pandemic

4,508 million, an increase of THB 754 million or 20.1% driven by higher sales of the energy drinks especially for export markets and greater sales growth from distribution of 3rd party’s products. Note: 1

1 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Operational Summary in 2Q20 (affected by Covid-19 pandemic and measurements from government) • Net

. In order to maintain overall financial results, the Company has initiated strategies focused on improvements in operational efficiency and expense control, such as adapting to the ‘new normal’ of

% driven by higher sales of the energy drinks especially for export markets and greater sales growth from distribution of 3rd party’s products. Note: 1/ Energy Drinks, Sport Drinks, and Functional Drinks 2

enforcement of strict measures, for instance, operational lock-down, state quarantines and travel restrictions in Thailand, Malaysia and Indonesia. Consequently, most of business activities were temporarily

volume vs last year same period. The impact on the financial performance was significantly mitigated (operational cost saving program launched still in Q1 after Covid-19) and longer term via a network

1 Forth Smart Service Public Company Limited (FSMART) 3Q2020 Management Discussion and Analysis Operational Summary in 3Q20 (recovered from Covid-19 pandemic)  Net profit was Bt123mn, increasing