Management Discussion and Analysis, Q1/2019 Page 1/4 JMT Network Services Public Company Limited - Translation - Ref: IR62/007 9 May 2019 Subject: Management Discussion and Analysis, 1st Quarter
executed cost control in SG&A items partially offset by surging of electricity price YoY in network OPEX. Net profit reported at Bt13,937mn, growing 10% YoY driven by improved operating profit and a net
(excluding equipment rental) of 45.2% , up from 44.7% in FY17. With continued network investment, net profit was reported at Bt29,682mn, slightly declining 1.3% YoY. For FY19, AIS expects to grow mid- single
3Q17 and 47. 0% in 2Q18. With higher network depreciation, net profit was Bt6,800mn, decreasing 9.0% YoY and 15% QoQ. Normalizing the one-time expense (see general admin expense), EBITDA increased 2.1
. Network OPEX & TOT partnership cost (net of revenue) was Bt18,642mn decreasing -2.3%YoY from saving on base rental from TOT partnership since Sep- 19 offset by increasing expense from 4G/5G expansion
license acquired in Feb-20 and continued investments in network, D&A rose 9.8% YoY. In summary, Net profit (Pre-TFRS 16) was Bt14,239mn, decreasing -7.1%YoY while the reported net profit (Post-TFRS 16) was
guidance of low single-digit decline YoY, with a margin of 45.4% increased by 50bps compare to 9M19. Net profit (Pre-TFRS 16) decreased by -13%YoY from network investment, spectrum acquisition as well as
fixed-speed unlimited plans offset by a net addition of 456k. With continued expansion of 4G capacity and FBB network, cost of service was Bt20,752mn, slightly increased 1.8% YoY and flat QoQ. This was
the revenue from equipment rental while the cost of roaming is presented under network OPEX. The net financial impact before and after the agreements’ effective date does not materially change. 4. The
of services Depreciation Network OPEX SG&A Financial cost Income tax expense Net foreign exchange gain (loss) (20,385) (9,712) (7,173) (6,288) (1,201) (1,397) (452) - - - - - - 30 47 (2,873) 2,920 14