-Café 2 Catering / Pop-up 3 4 1 Franchise Fee Income 4 • Revenue recognition of initial franchise fee • *Actual franchise fee recognized in Q4/2019 was THB 0.9 million Management Discussion & Analysis YE

contract ends. The Group’s management assessed the agreement in accordance with TFRIC 12 ‘Service Concession Arrangements’. As a result, the Group’s management recognized revenue from construction under a

(down 40% yoy) because FA EBITDA margin was decreased from lower Market P2F margin. However, the company recognized profit of THB 27 million from investments in the Thai Ethoxylate Company Limited (TEX

company recognized profit of THB 46 million from investments in the Thai Ethoxylate Company Limited (TEX) which produces Fatty Alcohol Ethoxylate (Derivative Product of FA). Lastly, the company had gotten

has distributed products and equipment design and installation of systems related to water treatment systems for medical services. In the past, has recognized income from installation of water treatment

previously recognized as handset loss will be reallocated between device sales and service revenue weighted by fair market values of the handset price and full-contract price plan. As a result, device sales

was a result of recognizing gross profit from 3 of GLOW’s IPP plants for the full quarter which increased by Baht 766 million (Q1/2019 GLOW gross profit was recognized for 18 days). • The gross profit

percent of total shares. As for the period of three months and 1st half year ended 30th Sept 2020, the company and its subsidiaries recognized share of income, by using equity method, of Baht 0.30 million

palm oil prices slumped in late June. However, the Company had to recognized loss from diminution in value of inventories amounting of Baht 42 million. Revenue 1. Revenue from Sales and Services For 2nd

could accelerate operations. As a result, the company's revenue slightly lower than those in 2 0 2 1 , only decreased by 4. 4% . Most of the company's revenue recognized in 2022 such as the Project of