exports which rose by 5.3% YoY as well as continued recovery in private consumption which expanding by 3.1% YoY. Nevertheless, Thailand's advertising industry reported a decline of 6.0% YoY to THB 101,445mn

Baht 859 million or 17% as a result of GLOW’s power plants have reached the Contracted Availability Hours set out in the PPA in December 2019, resulting in the decrease of Availability Payment in Q4/2019

decreased by 36.9% from THB 62mn to THB 39mn with a decline of Net profit margin to 5.7% from 23.7% in 2Q 2018. The lower-than-expected net profit’s performance was mainly from the adverse impact from

1 / 6 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS • Explanation and analysis of financial performance for the three-month period ended 30 September 2019

Part 4: Financial position and operating results 13. Significant financial information 14. Financial position and operating results of REIT 15. Trustee’s opinions on REIT’s performance Part 5

พรา้ว เขตลาดพรา้ว กรุงเทพฯ 10230 ประเทศไทย เลขประจําตัวผูเ้สยีภาษี 0107560000184 เว็บไซต ์http://www.icns.co.th   Executive Summary The company performance in the year 2017 depicts an outstanding growth

2,033.17 at the same period of year 2016 and representing a decrease 53.51%. The revenue from services business of the 3rd quaternary for the year 2017 was MTHB. 945.30. This was because of reduction of the

which will have commercial launch next year. For Painting segment, sales decrease because some products are near to the end of the model life. 2. The consolidated gross profit margin was 12.21%, decreased

the year 2016 was Baht 3,726.68 million. The significant decrease due to the reduction of the revenue construction works of renewable energy power plants projects of private sector. The revenue from

response to reduction of protected deposit amount by the Deposit Protection Agency and to provide more investment alternatives for the fund by allowing investment in sukuk and Islamic deposit. 1. Revisions