business increased 40.7%, as a result of increases in pulp sales volume, despite a decrease in average bagasse pulp selling price.  Revenue from ethanol business slightly increased 1.2%, as a result of

impairment loss from damaged cane THB 203 million, (3) Ethanol business : Higher cost of production due to average molasses cost increased from 3,649 THB/ton to 4,305 THB/ton in 2017, (4) Power business

an intense competition. As for Ethanol Production and Distribution Business, its production sales volume improved, from capacity expansion of its molasses based ethanol production plant at the Bo Ploy

sales in third quarter 2017 decreased. (3) Ethanol Business, in third quarter 2017, compared to the same period of previous year, the company had increased in performance from the increase in selling

with declining glycerin price in the global market in accordance to increasing glycerin supply entering the market. As for Ethanol Business, production and sales volume rose from the same period of the

its subsidiaries 4/ EBITDA from Bangchak Biofuel Co., Ltd., Bangchak Bioethanol (Chachoengsao) Co., Ltd., Ubon Bio Ethanol Co, Ltd., and BBP Holding Co., Ltd. 5/ EBITDA from Nido Petroleum Limited 6

gross profit. As for the Ethanol Business, performance improved YoY from the amalgamation, when compared QoQ ethanol sales volume rose, as Bangchak Bioethanol ( chachoengsao) Co. , Ltd. resumed its

year. For Ethanol production and sales business, performance was also better than last year, as in 2018, KSL Green Innovation Co., Ltd.’s performance was realized for the full year, resulting in the

in Indonesia, resulting in 2017’s PPA capacity increasing to 332 MW from 145 MW in 2016. Bio-based Product Business recorded better performance. Ethanol Fuel Business’s performance improved from the

previous year. Moreover, the company was able to efficiently manage raw material cost, improving gross profit from the previous year. As for the Ethanol Business, the quantity produced and sold increased