Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Executive summary The overall global economy was projected to slow down significantly due to the COVID-19

Cash Flows Statement Accounting Business Performance Executive Summary Statement of Income 23 of Financial Position Environment Management 3 Financial Ratios 28 Executive management’s prospects to

the low-income citizens to stimulate near-term consumption. Meanwhile, internal and external factors that affect the Thai economy are the slowing global economy growth, the inconclusive trade war

31.60 Gross profit 60.32 23.51 75.01 22.50 14.69 24.35 Other income 2.92 1.14 4.49 1.35 1.57 53.66 Profit before expenses, finance cost and taxes 64.18 25.01 80.53 24.16 16.35 25.47 Distribution costs

2018 of 147 million Baht, (3) other income including trademark and trade name fees of DEAN & DELUCA of 246 million Baht (31% of total revenue); significantly increased by 324% as compared to Q1 2018 of

impacted by the global economy as well as the pressure from the US and China, resulting in main customers decreasing purchase orders and postponing investment plans for additional capacity in the country

the last few month since the end of 2018, the HDD industry was impacted by the global economy as well as the pressure from the trade war between China and the US, resulting in main customers decreasing

HV is still a small proportion compared to the revenues from the Company and HP. Since the latter part of 2018, the HDD industry was impacted by the global economy as well as the pressure from the US

. Chart of world crude steel production monthly, ending 30 September 2017 Source: World Steel Association Such the situation showed that global crude steel production continues to increase and was moving in

. Chart of world crude steel production monthly, ending 31 March 2019 Source: World Steel Association Remarks: 1. For antitrust reasons, worldsteel no longer produces a monthly global capacity utilisation