to a 20% reduction in IVL’s core EBITDA. Operating cash flow through this period increased by 33% to $1.3B, as a result of lower prices and operational excellence. IVL has proposed a dividend of

) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE PERIOD OF 3Q 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials of Consolidated

Smart Energy Storage System: ESS. Currently, GPSC has developed and implemented various projects e.g. Cooperation project with PTT Global Chemical Public Company Limited (GC), co-developed a 1.5 MWh ESS

, there were commencement of commercial operation of the government solar projects in collaboration with the War Veteran Organization (WVO) and Solar rooftop project (Total installed capacity 9.69 MW). For

THB or 4.75% of total revenue in 2016. This growth in net profit derived from the efficient cost controlling in both project and overheads side in 2017. Considering the performance in the 4th quarter of

respective rights thereof as well. In the event that the Company or a subsidiary undertakes a property development business, clarify the characteristics of each ongoing significant project such as the project

Company during periods of low electricity demands. 4. Hydro Power Plant project in Laos recorded lower total electricity sales by 47% QoQ, mainly from a drop in water content due to an off-season period and

benefits from the business expansion. In addition, the Company has continued our strategic projects, including the mixed-use project ‘Dusit Central Park’ as planned. Major Developments Hotel Business At the

Dusit Thani PLC Management Discussion and Analysis 4Q18 and FY2018 P a g e | 1 Executive Summary The Company reported net profit of THB 119 million in 4Q18, a decrease of 59.0% from the same period

% in 3Q 2016 to 30.0%. As a result, net profit attributable to the equity holders of the Company increased by 183.0% to THB 60mn from THB 21mn in the same period last year and Net profit margin