) mainly due to reduction in equipment rental, as in 2017 SAAM Group had additional expense for equipment rental arising from the delay in shipment of inverters for SAAM-SP1. SAAM Energy Development Public

SAAM Energy Development Public Company Limited - 1 - 4 January 2019 Subject: Management Discussion and Analysis for the year ended 31 December 2017 To: The President of the Stock Exchange of Thailand

85.76% from Q1 year 2017. The reason was the delay on the shipment to customers in the first two months of year 2018. The main raw materials’ crop, which is sweet corn, was delayed due to the weather. The

production and able to shipment on time which made company’s selling volume increased. Cost of Sales for Q1 / 2023 and Q1 / 2022 was 432.19 million baht and 290.96 million baht, respectively. It increased

oil (CPO) inventory plunged to the level of 170,000 tons compared to the level of 400,000 tons at the same period of previous year, resulted in a surge in crude palm oil price. In addition, the Energy

5.9% Q-o-Q, but a reduction of 0.6% Y-o-Y. Total Sales revenue in USD terms grew by 5.8% Q-o-Q and 7.6% Y-o-Y, while PCB shipment value raised 6.55% Q-o-Q and 9.89% Y-o-Y (Table 5). The Y-o-Y Sales

/ EBITDA from Natural Resources business of Nido Petroleum Pty. Ltd., BCP Energy International Pte. Ltd., BCP Innovation Pte. Ltd., and share of profit from associated companies 6/ Others items and

in capacity utilization of Phase 3 at the new plant, but sales dropped in the following 2H18 (Table 4, PCB shipment value dropped 13% Q-o-Q in 4Q18) due to the typical low season and the effect of the

, property, plant and equipment increased by Baht 76.42 million which was new machines that ordered since last year but the shipment delayed until the early of this year and there was some capital expenditure

shipment delayed until the early of this year and were the investment for machine and equipment improvement. As of 30 September 2017 the Company had consolidated liabilities increased from last year by Baht