liabilities that the Company repaid loans from financial institutions. Interest-bearing debt to equity ratio increased from 2.28x to 2.54x because loans from financial institutions reduced less than the

months 13 35 Over 12 months 11 33 Total 509 661 Allowance for doubtful debt 6 9 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES AND EQUITY BREAKDOWN 31 DECEMBER 2018 (Restated) 31 DECEMBER 2019 (THB mn

23.37 12.72 54.4 Profit Attributable to Owner of the Company before exchange rate 2,152.97 1,863.28 289.69 15.5 Gain (loss) on exchange rate 48.02 (762.23) 810.25 106.3 Profit Attributable to Owner of the

loan and the impact of the THB appreciation to foreign currency translation of financial statements despite higher interest rates. Earnings before interest, tax, depreciation and amortization (EBITDA

Owner of the Company before exchange rate 1,660.42 1,097.85 562.57 51.2 Gain (loss) on exchange rate 200.65 (256.34) 456.99 178.3 Profit Attributable to Owner of the Company 1,861.07 841.51 1,019.56 121.2

DECEMBER 2016 31 DECEMBER 2017 Not yet due 132 124 Up to 3 months 47 89 3 - 6 months - - 6 - 12 months - - Over 12 months 13 13 Total 193 227 Allowance for doubtful debt 13 11 LIABILITIES AND SHAREHOLDERS

company to manage a fund; “Repurchase agreement” means a sale of securities or debt instruments with an agreement to repurchase such securities or debt instruments on the date specified in the agreement

a management company to manage a fund; “Repurchase agreement” means a sale of securities or debt instruments with an agreement to repurchase such securities or debt instruments on the date specified

fund; “Repurchase agreement” means a sale of securities or debt instruments with an agreement to repurchase such securities or debt instruments on the date specified in the agreement; “Office” means the

2019 Not yet due 273 262 Up to 3 months 145 130 3 - 6 months 67 30 6 - 12 months 13 29 Over 12 months 11 18 Total 509 469 Allowance for doubtful debt 6 7 MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 7 AUGUST