be ready for the return of dine-in whenever the situation has eased. The management is still fully committed to navigate the Company through the pandemic and get back to making a profit in the best

network investment Dividend policy at minimum 70% of net profit AIS is committed to driving long-term growth while delivering return to shareholders. We place importance in maintaining strong financial

) Includes the impact of the land lease extension for CentralPlaza Rama 2, which is considered a non-recurring item (2) Return on assets and return on equity are calculated based on net profit in the last

THB Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 12 of 15 (1) Return on assets and return on equity are calculated based on net profit in the last twelve

Net profit (from operation) (%) 22.3% 13.5% Account receivable turnover (times) 5.3 4.7 Net profit (after MI) 2 (%) 23.6% 15.6% Average collection period7 (days) 69 77 Return on equity3 (%) 17.4% 13.8

Gross profit margin 28.2% 28.1% 0.1% EBITDA margin 19.7% 16.9% 2.8% Net profit margin 4.8% 2.1% 2.7% Efficiency ratio Return on equity 5.7% 2.5% 3.2% Return on assets 4.9% 2.3% 2.6% Liquidity ratio

690mn o Advertising revenue decreased by 0.8% YoY to THB 262mn o System integration services revenue was recorded at THB 428mn  EBITDA increased by 14.7% to THB 115mn  Net profit excluding minority

to the aforementioned consolidation and cost of digital billboards network. As operating revenue increased more than cost of sale, Gross profit margin grew to 63.3% from 56.1% in the same period last

) 1.2 4.5 Cash-to-net profit (%) 82.8% 90.5% Account receivable turnover (times) 4.1 4.2 Net profit (excl. NCI) (%) 20.0% 23.2% Average collection period (days) 88.4 86.8 Return on equity (%) 35.4% 13.5

return and suitable for the industry, while 3rd party product for distribution amount to THB 234 million, up by THB 29 million or 14% due to greater variety of products. The Group modernize the “Carabao