systems as higher, when compare with income from the same period of last year. As a result, the Group has gross margin as lower while sale and service income as increased. 3.3 Selling expenses Selling

and Japanese team’s management will allow the group to rely less on external source of aluminum can and at lower cost. 3 Selling, general and administrative (SG&A) expenses SG&A expenses amounted to THB

cash from operating activities in the 3rd Quarter 2018 was Baht 399.65 million, which was lower than the net profit before tax by Baht 17.79 million, due to the transactions that did not affect the cash

company, or 80 percent of the total registered capital, at the price of Baht 1 per share, totaling Baht 400,000, which is lower than the par value and adjourning to the book value. The book value as of 30

EBITDA as well as increased share of profit from joint ventures and lower finance costs. • Total assets as of 31 December 2019 stood at THB 53,531mn, decreasing by 0.8% or THB 429mn from 31 December 2018

lower from last year quarter by THB 15 million. This is due to the reduction in consultant service expenses as follows: 1) Termination of the business advisory and review agreement with the foreign

robust Fit Fast Firm project (OSP’s cost saving program), which continued to drive further margin improvement through product formulation optimization, lower key raw material prices, higher supply chain

decrease in corporate income tax expenses. Meanwhile, electricity revenue and cost of sales were decreased because lower electricity sales and fuel costs unit price, comparing to the same period of the

margin fell to 1.7% (1Q 2019; 9.0%) • Reported net loss of THB 807mn (down 238% YoY), from the aforementioned lower EBITDA as well as higher share of loss from joint ventures and higher depreciation and

Company’s gross profit margin significantly decreased from 43% in 1Q2019 to 41% in 1Q2020. The lower gross profit margin attributed to revenue mix which is less contribution from revenue from residential