MANAGEMENT DISCUSSION AND ANALYSIS FOR 2017 2 2. ECONOMIC SITUATION Thai economy continually expanded supported by every economic engine especially merchandise exports that were uplifted from global trade
durable goods. The Thai economy hence showed ongoing improvement from the first quarter. Nonetheless, the economic expansion, which was still limited and uneven, affected the performance of KBank and our
2018. This was a result of a decline in merchandise exports owing to the economic slowdown of trading partners affected by trade protectionism and the impact of structural changes in the manufacturing
expanded at a slower pace compared to the previous quarter, with merchandise exports contracting as global trade weakened, resulting in a decline in domestic industrial production. Meanwhile, tourism
% and was mainly due to (1) the opening of new branches, (2) increased sales of raw material to franchisees and (3) increased sales of retail merchandise. Franchise fee income increased from THB 13.0 Mn
159.4 5.6% 192.4 6.4% 20.9% Revenue from Food Delivery & Catering 13.5 0.5% 101.6 3.4% 656.3% Revenue from Retail Merchandise 7.2 0.2% 28.3 0.9% 293.1% Total Revenue from Sales of Food and Beverages
was expected to expand at a slower pace compared with the same period last year due to a contraction in merchandise exports and a slowdown in tourism growth resulting from uncertainty about the trade
half of the year. Against the backdrop of the global trade slowdown and uncertainty over US trade policy, merchandise exports in 2018 expanded by 7.7 percent, down from 9.8 percent growth in 2017
merchandise, gourmet food and beverage in the United States . As of 31 December 2018, the Company has company-operated stores and licensed stores as follows. In the future, the Company has a plan to focus on