18.0 4.7 Gain on sales of investment in Subsidiaries 474 3.9 - - - - N/A N/A Tax assessment expenses (992) (8.1) - - - - N/A N/A Net profit 843 6.9 1,329 11.8 1,348 11.1 (36.6) (37.5) EPS (Baht) 0.68

department of 24.0 million baht, net profits decreased by 11.1 percent from the quarter 3/2017. The net profit of the year 2017 was 608.4 million baht calculated as 11.6% of the revenue from sales which

the Operation 827 887 (60) (6.8) EBITDA Profit Margin per Total Revenues (percentage) 10.7 11.1 - (0.4) -3- In considering of the Net profit from the operation in 2018 compared to 2017, the company has

8.2% 19.0 11.1% 4.3 29.3% รวมคำ่ใชจ้ำ่ย 37.1 20.8% 43.3 25.2% 6.2 16.7% EBIT 9.8 5.5% 9.5 5.5% -0.3 -3.1% ค่ำใช้จ่ำยทำงกำรเงิน 13.3 7.5% 14.7 9.4% 1.4 10.5% ค่ำใช้จ่ำยภำษีเงินได ้ 3.0 1.7% 3.3 1.9% 0.3

881 www.aapico.com Management Discussion and Analysis for the 2nd quarter of year 2019 2 Total revenue grew by 11.1% year-on-year, driven by higher sales from the automotive parts segment. Interest

3,821 16.1% SG&A 1,459 1,190 22.6% 2,781 2,452 13.5% คา่ใชจ้า่ยในการขายและจัดจ าหน่าย 989 846 16.9% 1,873 1,769 5.9% คา่ใชจ้า่ยในการบรหิาร 470 344 36.6% 908 682 33.1% EBIT 889 815 9.0% 1,987 1,788 11.1

growing by 18.46mb or 11.1% and recurring revenue from Financial Solutions increasing by 4.82mb or 16.7% . However, the growth in recurring revenue was partially offset by the reduction in non-recurring

Change Q2–18 Q4–17 Q2–18 VS Q4–17 (MB) (MB) % Unbilled Payables 505.8 459.8 46.0 10.0 Long-terms loans, current portion 3.3 29.0 (25.7) (88.6) Income tax payable 13.7 24.8 (11.1) (44.8) -4- Assets Items

Profit Margin 45.0% 45.4% Earnings before interest and taxes 16.5% 16.0% Earnings before taxes 11.2% 11.1% Net Profit Margin 8.6% 9.5% (million) 2018 2017 increase (decrease) 1.2 Report and analysis of

ยละ 11.1 และรายไดรวม เทากับ 518.3 ลานบาท ลดลงจากชวงเดียวกันของปกอน หนา รอยละ 5.5 ทั้งนี้ในป 2561 บริษัทมีรายไดจากการจําหนายอาหารเพ่ิมข้ึน และมีรายไดจากการขาย อสังหาริมทรัพยเพิ่มข้ึน ตนทนุค