1/2 L-WAVE ENT 20/2020 15 May 2020 Subject : Management’s Discussion and Analysis for the first quarter 2020 operating results with variation greater than 20% compared to the same period of 2019 To

while the tourism growth decelerate from drop in arrival from Chinese visitors which was effected from the deadly Phuket boat accident. In addition the weak of Chinese Yuan against US dollar, resulting

105.63 (27.27) Net Profit 59.77 87.30 (31.53) Total Revenues: For 2018, EASON recorded a 3.75% drop in revenues resulted from the lower inks sales and diminishing in production of motorcycle coatings in

17.28 22.57 EBT 18.35 26.01 41.69 46.74 Net Profit 15.09 20.32 34.65 39.32 Total Revenues: For 2Q18, EASON recorded a 6% drop in revenues resulted from the lower export of inks and shrinking of domestic

23.30 36.38 EBT 9.37 29.36 51.06 76.10 Net Profit 7.57 25.11 42.22 64.43 Total Revenues: For 3Q18, EASON recorded a 14% drop in revenues resulted from the lower inks sales as well as diminishing in

(72.95) (273) Profit (Loss) before tax (11.56) 76.82 (88.38) (115) Net Profit (Loss) (25.10) 59.77 (84.87) (142) Total Revenues: The company recorded a slightly drop in total revenues of THB (7M) or in

of branded product by own manufacture of THB 20 million or 1.4% and a rise in sales of 3rd party product for distribution of THB 69 million or 28.1%, which offset a drop in sales of branded product by

while expenses had grown, as a result; a huge drop in 6 months period by 137%. Profit (Loss) before tax: A sharp drop of 174% in 2Q19 comparing to 2Q18, while 6 months recorded a 91% less than the same

/19”) sales revenue of Baht 3,199.32 million. The drop in sales revenue was mainly as a result of significant drop in Total Industry Volume (“TIV”) and Total Industry Production (“TIP”) for Thailand

1,500 10.9 658 4.7 (72.7) (37.8) Net profit 618 5.0 1,680 12.3 868 6.2 (63.2) (28.8) EPS (Baht) 0.50 1.35 0.70 Sales revenues and service income of this quarter amounting to Baht 12,404 million, 9.6% drop