Company 2,200.99 1,101.05 1,099.94 99.9 Earnings per share (Baht) 1.52 0.76 Fuel Cost 8,090.95 9,607.32 Increase (Decrease) % Quarter 2 The operating result according to the consolidated financial

7,930.03 8,296.77 Increase (Decrease) % Quarter 2 The operating result according to the consolidated financial statement for the 2 nd quarter of 2019 showed the profit (attributable to owners of the Company

1,910mn, a decrease of THB 117mn or 5.8% from THB 2,026mn as of 31 December 2017. The decrease was primarily attributed to 1) a decrease in trade and other receivables of THB 104mn, 2) a decrease in cash

%, compared to the first quarter of 2020, which was from decrease in utilities sale volume approx. 9.0% during the first half of 2020 and 11.0% for the second quarter of 2020, compared to the first quarter of

(3M 2020) 15 JUL 2020 MASTER AD PUBLIC COMPANY LIMITED 3 During 3M 2020, MACO recorded an operating revenue of THB 612mn, a decrease of 13.7% from THB 710mn in 3M 2019. The decrease was mainly affected

Ratios Debt to Equity times 0.42 0.42 0.45 Interest coverage times 531.88 227.59 95.03 Dividend payout (%) 55.85%* 55.65% 67.84% * Pending for approval from the 2019 annual shareholders’ meeting Operating

164 Million from the increase in revenue and the decrease in financial cost. The Company had revenue from Expressway business of Baht 10,174 Million, representing an increase by Baht 217 Million or 2.2

parties of THB 79mn and 3) prepaid expenses of THB 54mn. The increase was partially offset by a decrease in trade and other receivables of THB 142mn. Total non-current assets stood at THB 2 ,277mn, an

to the decrease in financial cost. For the nine-month period, the Company had the net profit attributable to equity holders of the Company before gain on fair value adjustment of investment due to

THB 0.40 per share; which reflected another strong performance of GFPT group. For capital structure of the Group, as at September 30, 2017, the consolidated debt to equity ratio was 0.42: 1 and the net