gross profit decreased in the same direction as the revenue decreased as well. SG&A SG&A of the Company consisted of salary and wages and overtime payment, employees’ benefit, management fee, maintenance
economic slowdown of both Europe and America. Total cost of goods sold decreased by 25.62%, which is in the same direction as the decrease in revenue Selling expenses and administration costs increased
of tax exempt status which can be carried forward and deducted as expenditure from the net profits acquired. For the year 2014 and 2015, the Company could claim this priviliege to the whole amount
driven by lower industry-wide Integrated PET spreads. Going forward, management will focus on cost management initiatives, drive operational excellence, and working capital optimization in parallel with
% because the overall size of the projects delivered in the Q3-2022 are greater than those in Q3-2023 Total operating expenses in Q3- 2023 have changed in the same direction and at a similar rate with the
. Management Discussion and Analysis (MD&A) for 2019 Page 5/5 Looking Forward In 2019, the Company was able to generate revenue from business expansion quite well, which could be achieved according to the target
year debt level. In conclusion, by Q4 2019, the Company has a clearer direction regarding the Sakthi’s transaction. For the year 2018 until Q3 2019, the Company was not able to address the Sakthi
-to-equity ratio of 2.97 times and the interest-bearing debt to equity ratio of 2.61 times. Forward Looking The Company's operation has been continuing to set goals for the sustainability of the
transaction in line with our strategic direction highlighted in the 2019 Capital Markets Day. On a proforma basis, this acquisition adds 25% to IVL’s 2018 core EBITDA and also adds 23% of additional