, purchasing power is still weak and no clear sign of recovery in sight. To strengthening their competitive edge in other to enlarge market share, the players have to focus on boosting sales figures rather than

% respectively. Such growth was soaring depreciation and space’s expenses led by Don Mueang branch boosting high share compared to revenue. The company closed down the branch at the end of May 2018. This will

held in Bangkok between late March and early April also helped boosting domestic sale. However, export volume decreased by 5.8% to 243,124 units due to a shortage of semiconductors and auto parts for

optimizing costs has shown good progress. This will continue as the impact from the integration of Saraburi Quicklime has an effect. On the variable cost side fuel costs were higher than in the same period

employee incentive programs. On the variable cost side fuel costs were higher than in the same period last year and also in fixed costs related to production maintenance cost increased due to the earlier

. 2. Assumption in terms of cost (1) Cost assumption of online media and the Internet business Variable Cost Cost 2020F 2021F 2022F 2023F 2024F Commission Fee for Content Team 6.21 percent of revenue

decreased by -6% as a focus on optimizing costs has shown good progress. On the variable cost side fuel costs were higher than in the same period last year and also in fixed costs related to production

installed in the past year. However, the main variable costs including raw materials and consumables used decreased from the previous year as the production slowed down. The only selling and administrative

synergies of the acquisition contributed to the growth in revenue while variable cost synergies (particularly on fuel specific consumption optimization) contributed positively to consolidated EBITDA

period ending 31 March 2018 could be divided in to two key components as follows: 1. Variable cost component which shall be varied in accordance with the volume sold consist of (1) raw materials and