& administrative expenses 128 185 239 29.4% 86.6% EBITDA 120 115 116 0.8% -3.7% Net profit from operation 56 38 35 -7.4% -37.2% Net profit (exc. Minority Interest) 70 39 42 6.4% -40.0% Gross profit margin 42.2% 37.9

generate incremental revenue to the Company but also reduce the production costs of the Company’s energy drinks in bottle formats. 2 Gross profits and gross profits margin Gross profits were THB 1,722

was compensated from the event of damaged machinery during the test run, before COD. Note that the Plant was COD in 2016. 5 Gross Profit and Gross Profit Margin Q1-2021 Q1-2020 Gross Profit THB Mn THB

(days) 10 10 8 Profitability Ratio Gross Profit Margin 11 (%) 12.17 14.99 16.41 Operating Profit Margin 12 (%) 8.00 11.74 12.12 GFPT Public Company Limited Management Discussion and Analysis for the Year

%) YoY, resulting from the achieved growth in EBITDA for both the Food Business and the Hotels Business of 22.8% and 1.8% respectively. With regards to the EBITDA Margin, the Hotels Business achieved an

term. In addition to achieving revenue growth, the company-wide cost optimization is ongoing and translated into EBITDA expansion of +9% YoY and +2.4% QoQ to stand at Bt18,905mn, a reported margin of

contribute high gross margin; 4) marketing activities to help dry stock at trade stores and prepare for new packaging launch in Q3; and 5) increased administrative expenses from higher personnel expenses to

and 2017 are 143.90 million THB and 318.86 million THB respectively, resulting in gross margin of 17.66% and 15.39%. Cost of sales can be broken down for turnkey business and for supply and maintenance

and spectrum investment. SG&A expenses declined 14% YoY to Bt18,739mn following softer handset subsidies. Following that, EBITDA improved 14% YoY to Bt52,043mn and the EBITDA margin rose to 44.7

, AIS delivered a 4.1% core service revenue growth with 43.7% normalized EBITDA margin and has announced an interim dividend of Bt3. 78/ share, following minimum 70% payout ratio. The guidance for the