% lower than 2016 6.8% due to revenues from lending business, which has a high margin in Gross Profit level, was decline. Administrative Expenses The Company incurred administrative expenses 211.0 million

1 Forth Smart Service Public Company Limited (FSMART) 1Q19 Management Discussion and Analysis Operational Summary in 1Q19  Net profit was Bt150mn, increasing 3.1% YoY  Total revenue from core

Operating Results of the Company in Q3/2019 Q3/18 Q3/19 (THB million) YoY Operating Revenue 287 219 (24%) Gross Profit 188 137 (27%) EBITDA 91 58 (36%) Net Profit for the Company 60 13 (78%) Gross profit

under finance lease agreement, gain(loss) on forward contracts, income from insurance claim and gain from business acquisition. Q1-2021 Q1-2020 THB Mn THB Mn THB Mn % Net profit 360.3 593.5 (233.2) (39.3

and its subsidiaries were able to achieve a higher-than-expected profit of the company and EBITDA of Baht 163.55 million and Baht 296.92 million, respectively. REVENUE BREAKDOWN 9M/2020 Trading: There

) (2,323.4) 29.4% Gross profit 465.6 471.6 463.7 (1.7%) (0.4%) 905.0 935.3 3.3% Net gain (loss) on exchange rate 30.9 (4.6) 86.7 N.A.(

% (3,634.8) (3,562.1) (2.0%) Gross profit 458.7 398.2 462.0 16.0% 0.7% 1,346.5 1,210.2 (10.1%) Net gain (loss) on exchange rate 40.5 16.4 (190.7) N.A. N.A. 85.8 (79.9) N.A. Gain (loss) on forward contracts

million in quarter 2 /2018 escalating from THB 1.54 million of the same period last year. Such growth was driven mainly from marketing activities rendered to a corporate customer. Jan – Jun. 2018 Business

the company and subsidiary for the year 2017 ended 31 December 2017. The company net profit of Baht 52.83 million when compared with the same period of year 2016 posted net profit of Baht 43.60 million

company and subsidiary for 2nd quarter of 2017 ended 30 June 2017. The company net profit of Baht 37.94 million when compared with the same period of year 2016 posted net profit of Baht 9.11 million due to