Revenues 1,570,917,679 2,461,057,268 (890,139,589) (36.17) Cost of Goods Sold and Services 1,534,434,537 2,399,582,723 (865,148,186) (36.05) Sales & Administration Expenses and Financial Cost and Tax Expense

results The Company reported a net loss of THB 432 million for 1st Quarter 2019 and a profit of THB 366 million for 1st Quarter last year. This is primarily due to:  Revenue from sales and cost of goods

current assets / Total current liabilities Number of days of inventory = Average inventory / (Cost of sales of goods / Number of days in the period1) Collection period (days) = Average trade account

group continuously. Include activities to promote and educate cleaners and disinfectants to target customers in order to realize the importance and improve the quality of goods and services as well. At

year 2017 Page 5 (in thousand Baht) Statement of income 2014 % 2015 % 2016 % Q3-2017 % Revenue from sale of goods and rendering of services 838,550 85% 856,297 85% 643,348 83% 330,250 89% Investment

educate cleaners and disinfectants to target customers in order to realize the importance and improve the quality of goods and services as well. At the same time, the subsidiaries consist of Irving

Management Discussion & Analysis Page 7/7 APPENDIX: Ratio & Formula Profitability Ratios Gross profit margin (%) = (Total revenues from sales – Total cost of sales of goods) / Total revenues from sales SG&A to

from same quarter last year, representing the Company’s ability to manage cost of goods.  Other income In Q3/2019, Other income was recorded a slightly increase of Baht 0.4 from same quarter last year

price in order to no loss from procurement and stock inventory The company had sales volume decrease for the 6 months ended June 30, 2019 as result to the costs of goods and services decreased amount of

primarily due to: • Revenue from sales and cost of goods sold The total sales volumes reduced from last year quarter by 4% and average HRC selling price reduced from last year quarter by 17% mainly due to the