% 1.04 1.32 27% Weighted average number of common share (Million) 1,498 1,498 1,498 0% 0% 1,498 1,498 0% 7 Management Discussion & Analysis Management Discussion & Analysis (MD&A) Q2/2018 Revenue from

%) 1% 2,453 2,873 17% Earning per share (Baht/share) 0.59 0.70 0.60 (14%) 2% 1.64 1.92 17% Weighted average number of common share (Million) 1,498 1,498 1,498 0% 0% 1,498 1,498 0% 5 Gross Profit • Gross

palm oil was surged to 500,000 tons in 3Q2019, resulting in an average of crude palm oil (CPO) and crude palm kernel oil (CPKO) prices decreased from FY2018. Even though, the government has agreed to set

in moderate level. Water supply in the reservoirs was approximately lower than the average water quantity of the past 10 years as decreasing rainfall in that area. The weather forecast of the

. Therefore, the average CPO price in 2019 was lower than the average price in 2018. During the 1stquarter to the beginning of the 4th quarter, the Company realized higher the average cost of CPO than CPO price

palm oil inventory climbed up to c.425,000 tons in August 2017 which was higher than the historical average inventory of 200,000 tons. Therefore, the government announced the biodiesel mandate as B7 for

189 HRC Average Selling Price (Bht./ton) 18,097 15,491 HRC Cash Margin (Bht./Ton) 1,423 1,175 Unit: million Baht 3rd Quarter 2017 Year-end 2016 Fin an cia l St at us Total Liabilities 3,371 5,871 Total

EBITDA 612 1,062 Net Profit (Loss) (836) 990 HR C HRC Sales (k tons) 1,447 812 HRC Production Volume (k tons) 1,436 876 HRC Average Selling Price (THB./ton) 20,663 18,690 HRC Cash Margin (THB./Ton) 854

812 EBITDA 612 1,062 Net Profit (Loss) (836) 990 HR C HRC Sales (k tons) 1,447 812 HRC Production Volume (k tons) 1,436 876 HRC Average Selling Price (THB./ton) 20,663 18,690 HRC Cash Margin (THB./Ton

was under monitoring because of the dredging of Nongkho reservoir, while those of Rayong province was in moderate level. Water supply in the reservoirs was approximately lower than the average water