reported its 2017 consolidated net profit at THB 13,568 mn, an increase of 46.8% from the same period in the previous year (YoY). Total revenues stood at THB 34,594 mn, an increase of 18.3% YoY. Excluding

Dusit Thani PLC Management Discussion and Analysis For 3Q19 and 9M19 P a g e | 1 Executive Summary In 9M19, Dusit Thani PLC (“The Company”) reported the net profit including attributable to non

profit including attributable to non- controlling interest of Baht 339 million, increased by 60.7% from 9M2018. The net profit attributable to owners of the parent was Baht 51 million, decreased by 70.0

, and has continuously increase in sales of motorcycle of tires and tubes in Malaysia with 4 distribution warehouses. Therefore, after NDR has consolidated financial statement with FKRMM, NDR’s profit

days 69 72 63 Cash Conversion Cycle days 81 75 66 Finanial data and profitability ratios Sales revenues million baht 49,269 46,887 46,938 %change (%) 5.1% (0.11%) 6.51% Gross profit million baht 12,547

) (1,443.53) (71.57) 4.96 Distribution and Administrative expenses (293.33) (288.40) (4.93) 1.71 Total Cost (1,808.43) (1,731.93) (76.50) 4.42 Operating Profit 388.52 373.82 14.71 3.94 Finance costs (29.99

Group 5/ 44 36 (81) -284% -321% 270 24 -91% Others 6/ (76) (72) (61) (113) (190) Profit attributable to owners of the Company 1,060 1,007 1,856 75% 84% 4,137 4,009 -3% Basic earnings per share (Baht) 0.77

to IU portion. Development of Solar Projects ERC has announced the qualified project sponsors to enter into Power Purchase Agreement with the electricity distribution authorities (Metropolitan

million. Meanwhile, the Investment business recorded revenue, when including comprehensive gain, had total gain of Baht 114 million. The consolidated net profit for 1Q19 totaled Baht 1,228 million, a

consolidated net profit of the Bank and subsidiaries for 1Q20 totaled Baht 1,484 million, an increase of 20.8% from Baht 1,228 million in 1Q19. The consolidated comprehensive income for 1Q20 totaled Baht 799