of March as per the Ministry of Education’s directive. Food Business International catering business by Epicure Catering (ECC) has been ceased operation since February (in Vietnam) and March (in

-19 Interest coverage ratio (time)** 0.36 -1.03 4.22 ** =EBIT/Interest expense Dusit Thani PLC Management Discussion and Analysis For 1Q20 P a g e | 8 2020 Outlook In addition to the domestic and the

. EUROPEAN COMMISSION PRINCIPLES OF PUBLIC OVERSIGHT DIRECTIVE 2006/43/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 17 MAY 2006 CHAPTER VIII Article 32 Principles of public oversight 1. Member States

results  In Q2/2017, the Company and its subsidiary recorded total sales of Baht 1,370 million, a decrease of 21% YoY due to the slowdown in domestic sales and CMG business. However, Branded export sales

: Quarterly results  In Q3/2017, the Company and its subsidiary recorded total sales of Baht 1,500 million, a decrease of 15% YoY due to the slowdown in domestic branded and export CMG sales. However, export

) Quarterly Change 1/2018 1/2017 % Sale Domestic Sale 106.6 136.8 (22.0) Export Sale 295.2 376.0 (21.5) Total Sale 401.8 512.8 (21.6) Foreign Exchange Gain 6.1 1.0 533.3 Other Income 0.8 1.5 (45.9) Total

Budget Act and drought. Furthermore, domestic spending may be limited due to weakening purchasing power and hefty household debt. Apart from economic woes, businesses face numerous other challenges that

 In Q4/2017, the Company and its subsidiary recorded total sales of Baht 1,531 million, an increase of 2% YoY, following growth from domestic CMG launching new products as well as continue growth from

number of restaurants and bakery shops in domestic and overseas countries. The growth of the same store sales of domestic restaurants and bakery shops under the brand “S&P” decreased by 4.00 percent. For

million, increased by 3.1% compared to the same quarter last year. Total sales were Baht 510.1 million, increased by 4.5%. The contributions were from domestic sales 22.5% and export sales 77.5%. Gross