, decreased by 0.01 times, due to decreased of long-term loans from financial institutions and increased of shareholders’ equity, due to increased of retained earnings. Liquidity Cash flow The period ended 30

subsidiaries have debt to equity ratio is 0.77:1, compared to the 2016 is 0.73:1, increased by 0.04 times, due to increased of loans from financial institutions and increased of shareholders’ equity, due to

decreased Baht 5.3 million. 4. Long-term loans from financial institutions increased Baht 509.2 million. 5. Employee benefit obligations increased Baht 17.7 million. Total shareholder’s equity As of 31

Microsoft Word - MDA Q1.2019 EN_Final Page 1 of 3 GEL.CS.004/2562 14 May 2019 Subject: Management Discussion and Financial Analysis for the operating results of the first quarter of 2019, ended March

from financial institutions and decreased of shareholders’ equity, due to net loss from operating. Liquidity Cash flow The Q1/2019, the company and its subsidiaries have cash flow received from operating

, the company and its subsidiaries have debt to equity ratio is 1.54:1, compared to the 2018 is 1.02:1, increased by 0.52 times, due to increased of long-term loans from financial institutions and

equity ratio is 0.85:1, compared to the 2017 is 0.71:1, increased by 0.14 times, due to increased of long-term loans from financial institutions and decreased of shareholders’ equity, due to net loss from

to equity ratio is 1.69:1, compared to the 2018 is 1.11:1, increased by 0.58 times, due to increased of long-term loans from financial institutions and decreased of shareholders’ equity, due to loss

is 1.97:1, compared to the 2019 is 1.35:1, increased by 0.62 times, due to increased of long-term loans from financial institutions and decreased of shareholders’ equity, due to retained losses from

the consolidated financial statements of the Company and its subsidiaries for the first quarter ended 31st March 2018. The Company reported consolidated net profits (attributable to equity holders of