of days of inventory = Average inventory / (Cost of sales of goods / Number of days in the period1) Collection period (days) = Average trade account receivables before allowance for doubtful account

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 receivables before allowance for doubtful

Group”) as follow: THB Mn THB Mn THB Mn % Sales of goods and services 1,115.7 1,110.5 5.2 0.5 Revenue from finance lease under power purchase agreement 100.9 102.3 (1.4) (1.4) Revenue from construction

February 2019 Q4’18 and 2018 Management Discussion & Analysis Page 7/7 APPENDIX: Ratio & Formula Profitability Ratios Gross profit margin (%) = (Total revenues from sales – Total cost of sales of goods

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

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