. However, overall recovery is gradually improved, the Company closely monitors situation with flexibility to adapt management strategy and marketing activities to fully response local demand. The Company

line with our target of ~15%. ESG & Carbon Neutrality Carbon neutrality will be IVL’s key differentiator going forward, and we have laid out a strategy to include recycling, renewable energy, ethical

strategy that is based on three major pillars: topline growth, operational excellence, organization development. The “fixing the basics” program is nearly complete, resulting in upgrades of technical assets

marketing strategy. 9M’19 Functional drinks market growth remained strong at 21.9%, driven by C-Vitt, a No. 1 brand in functional drink market with the market share of 25.5%. In Q3’19, C-Vitt market share

strategy to ACM’s production; thus reduce purchasing cost from suppliers, and repayment made to the suppliers of machinery. 3. Long-term loans from financial institutions Long-term loans from financial

investments under the cost method in the separate financial statements. Factors Affecting Future Operation Most of major automobile and motorcycle manufacturers apply Global Model strategy. It is to use a

to (i) the rise in export to the People’s Republic of China market which contributed to THB 569 million as a part of our marketing strategy to endorse the People’s Republic of China as a strategic

part of our marketing strategy to endorse the People’s Republic of China as a strategic country for marketing in Asia region and (ii) surging demands for our bottled and canned energy drinks in the CLMV

Services segment as well as positive order intake in the Outdoor media product group. The expansion to include Digital services business (Rabbit Group) constitutes a cornerstone of the VGI Group’s strategy

OUTLOOK & STRATEGY (maintained) Service revenue (excluding IC)  increase 4-5% YoY Handset sales Consolidated EBITDA margin  increase with near-zero margin  42-44% CAPEX  Bt40-45bn Dividend payout