decrease of 0.38 percent, due to an increase in net profit of 2.73 percent but there was an increase in the shareholders' equity of 4.65 percent from the previous year. Return on Assets (ROA): The Corporate

) * 947.96 947.96 - - Return on Equity (ROE) (%) 27.12% 27.62% (0.50)% Return on Assets (ROA) (%) 18.48% 16.68% 1.80% Remark: * Calculated based on the number of issued and paid-up ordinary shares deducted by

Liabilities Total Equity 10,052 9,978 8,371 7,701 1,681 2,277 30 June 2018 31 Dec 2017 Total Assets Current Assets Non-Current Assets 10,052 9,978 Unit: THB mn Dusit Thani PCL Management Discussion and Analysis

shareholders’ equity 1,474.48 1,483.28 (8.80) -0.59 Total liabilities and shareholders’ equity 1,745.26 1,775.85 (30.59) -1.72 4 1. Assets The Company’s total assets as of 30 June 2019 were Baht 1,745.26 million

.) Managing Director Ratio Analysis : Consolidated Financial Statements 2Q 2Q Unit : THB million 2019 2018 Returns (%) Return on Assets * 10.9% 9.5% Return on Equity * 13.7% 14.0% Working Capital Management

shareholders’ equity 1,750.03 1,775.85 (25.82) -1.45 5 1. Assets The Company’s total assets as of 30 September 2019 were Baht 1,750.03 million, decreased from the end of 2018. The main reason was decreased in

current assets was increased Baht 3.86 million. Non-current assets was increased long term investment at Baht 6.35 million gaining from the increase of market price of the equity securities available for

% Net profit - Equity holders of the Company 144.64 18.4% 150.40 17.7% 145.42 17.5% -3.3% 0.5% %YoYIncome Statement Q3/2017 Q2/2018 Q3/2018 %QoQ Total revenue In 3Q18, FSMART’s total revenues from core

shareholders’ equity 202.52 217.27 (14.75) -7.28% Non-controlling Interests (15.90) (8.65) (7.25) 45.60% 150.13 474.69 (324.56) -216.19% TOTAL ASSETS TOTAL LIABILITIES TOTAL SHAREHOLDERS' EQUITY Statement of

2018 +/(-) +/(-)% Assets Cash, Cash equivalents and short-term investments 925.49 159.84 (765.65) -82.73% Trade and other accounts receivable 739.98 929.10 189.12 25.56% Other current assets 72.21 70.50