business strategies for the first quarter of 2018, KBank and subsidiaries thus reported Baht 10,766 million in net profit, increasing Baht 595 million or 5.84 percent over the same period of last year. The

% Revenue from service incomes 0.49 0.42% 0.51 0.44% 0.02 3.86% Revenue from rental incomes 0.70 0.60% 0.63 0.54% (0.07) -10.66% Total revenues 116.70 100.00% 115.48 100.00% (1.22) -1.05% Gross Profit

THB -75.0 Mn compared to the same period in 2019. The main reason for the lower cash flow was the decrease in net profit which decreased THB -76.3 Mn year-on-year. Other notable cash flow changes were

load factor from 67.8 percent to 68.8 percent. Passenger yield was 4.55 baht per RPK, increased by 0.9 percent from the same period of 2017. The Company reported net profit before income tax amounting to

remained quite similar to the same period last year. Net profit was shown at the amount of 44.4 million baht for the first half of this year, decreased from the same period last year by 1,418.3 million baht

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary CPN’s total revenue and net profit continues to grow according to its business plan

last year by 9.6 percent. The Company has the average passenger load factor at 67.9 percent, declined from 69.8 percent. 3 ASIA’S BOUTIQUE AIRLINE The Company reported profit before income tax amounting

yield per RPK was shown at 4.44 baht, weakened from year 2016 by 9.0 percent. The Company reported profit before income tax amounting to 1,318.4 million baht, decreased from the same period last year by

profit at 510.8 million baht, decreased from the first quarter of year 2018 by 208.5 million baht or 29.0 percent of which profit attributable to the equity holder of the Company was 504.3 million baht

percent and 2.8 percent respectively. However, revenue from airport-related services and unallocated revenue rose by 11.6 percent and 35.0 percent respectively. The Company reported net profit at 510.8