Microsoft Word - MD^0A_FY2019_EN_Final 1 Forth Smart Service Public Company Limited (FSMART) FY2019 Management Discussion and Analysis Operational Summary in FY2019  Net profit was Bt584mn

for experimenting and developing an innovation in a controlled environment to support provision of services related to capital market. “ approved person ” means a person who is approved by the SEC

experimenting and developing an innovation in a controlled environment to support provision of services related to capital market. “approved person” means a person who is approved by the SEC Office to participate

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

three years of investment, with so far one new kiln (K7) in operation since January adding an extra 50,000 Mt of capacity, the additional potential of developing new products, as well as the option to add

margin decreased from the previous year mainly due to a decrease in gross profit from services and development business from additional related costs in developing renewable energy business overseas in

- launched coffee stands has greatly benefited from the changing behavior and the sales of take-away coffee beverage went far-exceeded our expectation. Currently, the company is in the process of developing

2017: In Q2 2017, the Company is continually developing its current real estate projects: MahaNakhon, MahaSamutr, and Nimit Langsuan projects. Despite of competitive in pricing action, the Company has

2017, the Company is continually developing its current real estate projects: MahaNakhon, MahaSamutr, and Nimit Langsuan projects. Despite of competitive in pricing action, the Company has handover 33

from fully operational of Wattanapat Ao Nang hospital (fully operational in March 2019), such as employee expenses, doctor fee, cost of goods sold, depreciation infrastructures and so forth. Selling