Hemaraj Leasehold Real Estate Investment Trust (HREIT) and increase in normalized share of profit from investments in power associates. Such impact from FX losses was only accounting implication and did not

47.4% and 54.0%, respectively. Utilities & Power Business Q2 2017 Q2 2018 Increase/(Decrease) 1H 2017 1H 2018 Increase/(Decrease) THB mm THB mm THB mm % THB mm THB mm THB mm % Revenue 495.7 523.1 27.5

investment properties resulting from the asset monetization to Hemaraj Leasehold Real Estate Investment Trust (HREIT) and increase in normalized share of profit from investments in power associates. Such

were 61.5% and 56.5%, respectively. The increase of gross profit margin was from higher average selling price and better construction cost management. Utilities & Power Business Q2 2018 Q2 2019 Increase

155.6%, arising from increase in available payment from GHECO-One, according to the Power Purchase Agreement (“PPA”) which is based on the principle that annual Availability Payment (“AP”) will not lower

% from those of last year, to 49,269 million baht. This was mainly due to an increase in sales of Power Electronic business group, especially sales of power supplies for automotive (Electric Vehicle

standards under WHA level. However, the genuine gross margin in first quarter of 2018 was at 63.8%. Utilities & Power Business Q1 2017 Q1 2018 Increase/(Decrease) THB mm THB mm THB mm % Revenue 554.3 515.0

Q1/2018, the Power Plant Business recorded an increase of revenue in the amount of THB 72 million, and recorded an increase EBITDA of THB 128 million, with the following factor affecting operation as

IPP plants of Baht 1,056 million. As for Sriracha Power Plant, gross profit increased by Baht 189 million due to the increase of Availability Payment after major overhaul maintenance shutdown in Q4/2018

solar cell implementation service from Combine Heat and Power Producing Company Limited (CHPP) as well as the increase in maintenance cost leading to a fall in gross profit. The gross profit of the