amortization Operating highlight in Q1/2018 Q1/17 Q4/17 Q1/18 Change +/(-) (THB million) QoQ YoY Operating revenue 5,366 4,849 5,716 18% 7% Gross profit 1,098 1,315 1,647 25% 50% EBITDA 915 1,137 1,482 30% 62
to high domestic ethanol stock, and the increasing aggregate domestic production capacity. Natural Resources Business Group recorded soften performance though the Company still realized additional
wide range of economic activities, weakening purchasing powers, lowering household income, increasing number of laid off labors, high debt burden, and lowest consumers’ confidence in more than 21 years
2019 was resulted from the employee retirement benefit. Operating Highlights Q4/18 Q3/19 Q4/19 Change +/- 2018 2019 Change +/- (THB million) % YoY % QoQ % YoY Revenue from sale of goods 2,356.1 2,275.0
gross margin in was 47.9% which decreased from 61.1% in 2017. The decrease in genuine gross margin, compared to the same period of last year, was mainly due to change in product mix between Built-to-Suit
built pool villas to Santiburi Koh Samui in May 2018, thereby increasing the number of keys in Santiburi Koh Samui from 77 keys to 96 keys (5) Six hotels operate under the Outrigger brand and manage under
number of keys for the year. In particular, the Company added 19 newly built pool villas to Santiburi Koh Samui in May 2018, thereby increasing the number of keys in Santiburi Koh Samui from 77 keys to 96
notable improvement of the performance in terms of revenue and cost-saving compared to last quarter. However, Overall performance on a year-over-year basis was affected by the change in structure of revenue
residential business upon increasing revenues. Profit margin in this quarter stood at 36%, lowered from 43% in 3Q16, due to the front-end load service fee from the Maldives project, as previously mentioned. QoQ
expected from the mandate change. 1.2 Revenues from sales of by-products to total revenue for the year of 2017 and 2016 were 4.70% and 1.53% respectively. The revenue from by-products in the year of 2017 has