ended 30th June 2018, the company and its subsidiaries recognized share of income, by using equity method, of Baht 0.42 million in consolidated income statements in which increased by Baht 0.17 million or

743.1 million baht. Even though the COVID- 19 pandemic bringing significant disruption to business, The Group still maintains the profit attributable to equity holders of the company amount of 707.1

equity method -0.2 0.0% -0.3 -0.1% -0.2 101.9% Profit (loss) before income tax expense -57.5 -8.9% 29.9 4.9% 87.4 - Tax expense (income) -13.3 -2.1% 1.4 0.2% 14.7 - Profit (loss) for the year -44.2 -6.9

Thai economy growth (Source: FPO, Ministry of Finance) Overall aviation industry for this quarter affirmed 7.9 percent growth in revenue passenger kilometers (RPK) of all region in which RPK of Asia

Period (Day) 58 58 66 CASH CYCLE (Day) 9 14 18 PROFITABILITY RATIO Gross Profit Margin (%) 8.57 7.82 10.37 Net Profit Margin (%) 4.61 3.56 5.94 Return on Equity (%) 6.03 5.01 8.05 EFFICIENCY RATIO Return

December 2018, mostly from a decrease in investments in joint ventures and an impact of currency translation due to THB appreciation • Net debt to equity ratio as of 31 March 2019 was 0.51 times, an

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ended March 31, 2018 In the first quarter of 2018, Thai economic growth gained

last year ending 31 December 2016 We have committed ourselves to strategies that emphasized on building up strong fundamentals in order to drive our businesses towards a sustainable growth organization

keep the policy interest rate unchanged at 1.50 percent, with the view that the Thai economy is expected to grow at a stronger pace while the impact of economic growth has yet to be translated to a broad

should continue to be accommodative so that the economic growth could continue and translate into the strengthening of domestic demand. Notwithstanding this, there are pockets of risks, such as debt