restriction measures limiting business activities while government offered some subsidies that partially supported consumer purchasing power. Restrictions were gradually relieved beginning September including

-2841-5925 Website: www.kiatnakin.co.th http://www.kiatnakin.co.th/ 2 Management Discussion and Analysis (MD&A) For the first quarter ended March 31, 2018 comparing operating performance and financial

Website: www.kiatnakin.co.th http://www.kiatnakin.co.th/ 2 Management Discussion and Analysis (MD&A) For the first quarter ended March 31, 2018 comparing operating performance and financial position for the

million. In addition the Company will be responsible for land transfer registration fee, land tax and any expenses to be paid to government agencies for ownership transferrable of property approximate Baht

2020 (Source: Ministry of tourism and sport) For the second quarter of year 2020, the company suspended all flights since 7 April 2020 according to government orders as well as the announcement from

19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Management Discussion and Analysis of Business Operation for Q1/2019

[COMPANY NAME] Ref.: EFORL IR008/2019 March 7, 2019 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2018 To President The Stock Exchange of Thailand 1. Overview financial

156.3% 148.1% Gross profit 156 177 210 18.3% 34.6% Selling, general and administrative expenses 79 106 124 17.5% 58.1% EBITDA 108 113 127 13.0% 17.6% Net profit from financial statement 65 62 74 20.6

organization to be more compact and more cost saving. 6. Financial cost For Quarter 2 of the year 2020, the financial cost was 0.18 million baht compare to 0.47 million bath last year, decrease by 0.29 million

Government Saving Bank in Thailand. This is not only potentially decreases our funding costs but also stabilized company financial conditions. 2 Summary of Consolidated Financial Results 1. Operating Results