as the biomass power plants had shutdown hours to improve the power plants machinery’s efficiency in the first quarter of 2023 less than the first quarter of 2022. Sales of natural gas power plant

Millcon Steel Co., Ltd. changed the AC and DC motors instead of the existing motors to increase the efficiency. 20 3 Kobelco Millcon Steel Co., Ltd. has improved the machinery with new electric wiring in

on equity of the Company and its subsidiaries was 8. 37% decreased from 14. 55% in 2017; resulting from lower efficiency in profit generation; whilst, slightly lower asset utilization and slightly

% Efficiency ratio 31-Dec-18 31-Dec-17 Return on equity 5.9% 5.7% Return on asset 4.6% 4.9% Liquidity ratio 31-Dec-18 31-Dec-17 Current ratio (time) 1.35 1.26 Leverage ratio 31-Dec-18 31-Dec-17 Interest bearing

Company and its subsidiaries was 9.08% slightly increased from 8.37% in 2018; resulting from higher efficiency in profit generation; whilst, slightly lower asset utilization and slightly lower risk from

Profitability ratio 31-Dec-19 31-Dec-18 Gross profit margin 26.4% 30.7% EBITDA margin 22.5% 18.0% Net profit margin 5.2% 5.2% Efficiency ratio 31-Dec-19 31-Dec-18 Return on equity 6.6% 5.9% Return on asset 5.9

energy efficiency, the result of which is the reduction in same store utility costs by around 3.2% YoY. To maintain an optimum level of cost-to-revenue ratio, CPN continues to explore further efficiency

2017 Page 4 of 15 2015 2016 2017 Cash Profit Margin 13 (%) 133.95 106.56 119.70 Net Profit Margin 14 (%) 7.16 9.66 10.14 Return on Equity or ROE 15 (%) 13.15 16.26 15.24 Efficiency Ratio Return on Assets

both year-on-year and quarter-on-quarter basis as a result of lower costs of key raw material and packaging items, as well as improving efficiency from modern production technology ranging from glass

same period a year earlier due to the continuous rise in electricity Ft rate since May 2017. CPN, meanwhile, achieved efficiency gains with the reduction in electricity unit consumption compared to last