in Q4/2019, while for YE 2019, EBITDA margin increased by 3.1% from 2018 due to the increase in revenue from dessert café and better control of selling and administrative expenses. Net Profit and Net

order to balance of sources and uses of funds as well as any related financial costs and expenses. 2. Trade and other payables Trade and other payables as of December 31, 2019 and 2018 were THB 1,447

profit margin of 17.0% in the corresponding period last year. The decline was resulted from the rising costs in SG&A expenses with regard to the sponsorship fees payable to Chelsea Football Club Limited

services - Tolling - - Selling expenses 109 153 (40%) Administrative expenses 199 294 (48%) Bad and doubtful debts 62 - 100% Other expenses 22 4 81% Finance costs 280 249 11% Total expenses 9,470 7,663 19

) Finance costs 403.07 484.24 (81.17) (16.8) Income tax expense 164.03 234.39 (70.36) (30.0) Total expenses 2,102.74 2,441.56 (338.82) (13.9) 2,309.70 1,954.61 355.09 18.2 Non-controlling Interests (3.04

58.0% Profit before expenses 452.0 498.8 502.1 319.4 (182.7) (36.4%) 1,944.4 1,772.3 (172.1) (8.9%) Administrative expenses (121.4) (106.7) (106.9) (109.8) 2.9 2.7% (438.1) (444.8) 6.7 1.5% Finance costs

Expenses is comprised of staff salaries and welfare benefits, hotel management expenses, facilities rental costs, costs for credit cards usage, together with franchise and royalty fees, and advertising

or 245.2% compared to the previous year as revenue recognition began in the 4th quarter of 2018. Costs Cost of Goods and Services Costs of goods and services amounts to 500.1 Million Baht, decreased by

% 78.06 25% Gross profit 210.55 35% 152.21 33% 58.34 38% Selling and admins expenses (217.63) (36%) (213.32) (46%) 4.31 2% Financial cost (13.10) (2%) (12.66) (3%) 0.44 3% Tax (7.57) (1%) (6.23) (1%) 1.34

this quarter, the Company recorded total costs and expenses of THB 1,013. 85 million, a decrease by THB 229.61 million or 18.47, when comparing to the same period of last year. The reason was the