%. Because in the past the market has increased the price competition. In addition, customers negotiate the price by referring to the decrease in world wheat market prices and the appreciation of the baht in

for the raw materials procurement process issue. Nevertheless, the company was able to realized net profit excluding extraordinary item for FY2018 of THB 487 million, decreased by 7% from previous year

Sheet but also provides it the necessary resources to pursue its inorganic growth strategy. The net debt to equity ratio has reduced to 0.80 despite acquisitions completed in the first three quarters of

31 December 2018, mainly due to net loss performance. 5. Liquidity and Capital Resources Current Ratio As at 31 December 2019, the Company and its subsidiaries recorded current ratio of 0.64x, a

Thailand to support human resources for the operation and maintenance services of Hongsa Mine Mouth Project in Lao PDR. The agreement is effective from December 1, 2017 to October 31, 2020, with the total

result of (i) the THB appreciation against EUR (THB appreciated from 35.90 THB/EUR in 1Q 2019 to 34.49 THB/EUR in 1Q 2020) since the majority of the Company’s hotels earns their revenue in Euro and (ii

Baht 50.38 million due to the Baht appreciation against JPY. The unrealized loss on exchange rate was mainly from revaluation foreign exchange rate in JPY of long-term investments. 5 | Padaeng Industry

appreciation to competitors, especially from Vietnam. - QSR business recorded its revenue of Baht 143.0 Million that 3.1% increased from 2018 or by Baht 4.2 Million, resulted from distribution channel

year 2019 increased 51.20 and 61.28 percent from the same period of last year. Main attribution is increasing in sales quantities from 2nd production line. The effect from Thai Baht appreciation and

of Baht 1,607.51 million or 82.20 percent. Cost of sales and services decreased due to the appreciation of the exchange rate and increasing production efficiency for both the leather and energy