Baht 104 million as compared to the same period last year due largely to the following:  The overall revenue from hotel operations which comprise of hotel, golf and retail operations decreased by Baht

The afore-mentioned Capital Market Development Plan, acknowledged by the Cabinet on Tuesday, January 31, 2023, consists of the following five strategic directions for continued growth of the capital

handset sales. The reported net profit was at Bt6,757mn, showing 7.1% improvement YoY following the improvement in EBITDA, lower finance cost, and a net FX gain. QoQ showed a decline of -8.2% from lower

subsidiaries (“the Group”) as follow: * Extraordinary items from non-operating, consists of unrealized gain (loss) on exchange rate of receivable under finance lease and gain (loss) on forward contracts

profit (loss) attributable to equity holders (Exclude Gain (Loss) on exchange rate) 647.7 159.5 488.3 306.2% Net profit (loss) attributable to equity holders Margin (%) (Exclude Gain (Loss) on exchange

for nine-month periods ended September 30, 2018 and 2019, our management’ s assessment of the factors that may affect our prospects and performance in future periods. The following discussion and

109.25% Income tax expenses (revenues) 2.37 4.83 -2.46 -50.96% Profit for the year 305.26 142.19 163.07 114.69% Unrealized gain on revaluation of investment held as available-for-sale 1.26 - 1.26 100

. บรษัิท โกลบอลกรนีเคมคิอล จํากดั (มหาชน) Management’s Discussion and Analysis | 3 Note : (1) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV Operating Performance Table 1

year increased by Baht 679 million as compared to last year and this was mainly due to the following:  Revenue from property development operations which comprise of property sales and the sale of

partly compensated by a gain on sales of investment amounting to Baht 116 million in 2017. Total expenses decreased by Baht 44 million as compared to last year mainly due to the following: • Cost of hotel