181 -10.3% 43.8% Adjusted net profit3 157 227 240 5.9% 53.3% Gross profit margin 57.2% 60.4% 60.6% EBITDA margin 32.1% 45.4% 38.0% Adjusted EBITDA margin 35.4% 46.1% 44.2% Net profit margin 16.3% 20.6

improved profitability from 36.1% to 51.1%. The significant improvement of such GPM was as a result of the increase in land sale price.  The gross profit margin from the asset monetization to WHART increase

Margin (%) 67.62 64.12 66.45 63.76 July – Sep 2017 For the three-month period ended 30 September 2017, gross profit of the Group was THB 131.91 million or equivalent to gross profit margin of 67.62

48.3% from 9M/2018, mainly due to the increase in both revenue from sale of goods and revenue from rental and rendering of services, higher gross profit margin from sale of goods, decreased percentage of

As of 30 June 2020, the Company reported the total assets of THB 21,030 million, increased by THB 6,793 million or 47.7% from the total assets as of 31 December 2019. • Current Assets were decreased by

16.0% from 31 December 2017.  Current assets increased by THB 340 million due to an increase in account receivables and advance to villa owner  Non-current assets increased by THB 1,255 million mainly

channel has expanded significantly, as well as effective cost management has resulted in maintaining profit margin at a good level. (2) Analysis of Operating Results and Profitability (2.1) Revenues from

be Baht 446.70 million or an increase of 33.26 percent, due to expansion of distribution channels and effective cost management having resulted in maintaining profit margin at a good level. (2

and 2017 are 143.90 million THB and 318.86 million THB respectively, resulting in gross margin of 17.66% and 15.39%. Cost of sales can be broken down for turnkey business and for supply and maintenance

213 million, a decrease of 14% YoY, representing gross profit margin of 17.7%, reduced from 20.7% in Q3/2018, mainly due to financial statement adjustment in accordance with new Thai accounting