(THIS REPORT DISCUSSES PRINCIPAL CHANGES TO THE REVIEWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE FIRST QUARTER ENDED 31

self and other airlines. Consolidated financial statement of the Company consists of Separate Financial Statement and Financial Statements of the 13 subsidiaries that include: 1) Bangkok Air Catering

previous year. However almost of loss was happened from allowance for doubtful debt in an amounting of baht 10.68 million. 4. Financial position Statement of Financial Position – Consolidated (Million Baht

million, an increase of THB 26 million or 24.2%. This amount consists of interest paid by ACM of THB 49 million, recognized through the income statement after commencing commercial operation, interest on

. Management Discussion and Analysis For the Year Ended December 31, 2017 Page 5 2. Operation performance according to consolidated financial statement Unit : Million Baht Revenue from sale and rendering of

the record of dividend income from CK Power Public Company Limited (CKP) in the income statement after the reclassification of investment in the third quarter of the year 2018. However, gains on sale of

Healthcare center Co., Ltd. has recognize allowance for doubtful debt in an amounting of baht 31.98 million in this quarter. 3.5 Operating results The Group's net profit was decreased from the same period of

expenses. 2As shown in financial statement, excluding minority interest. 3Net profit excludes minority interest, is adjusted for amortisation of PPA in MACO, gain of fair value measurement in MACO at

% EBITDA margin 45.4% 47.1% 41.5% Net profit margin 20.6% 24.3% 21.5% 1As shown in financial statement, excluding minority interest. PERFORMANCE ANALYSIS (2Q 2018/19 vs 2Q 2017/18) VGI continued to

Baht or 129.1%. Total comprehensive income (loss) for year 2019 was loss amounted 35.6 million Baht compared with last year had profit income amounted 114.4 million Baht. Table 2: Comparison Statement of