longer maturity and lower credit rating are exposed to higher level of risk. 26. Special features and key risks of structured notes: Specify the special features and important risks relating to structured
by 1.5% YoY due to Kyat currency depreciation (at constant FX, total Myanmar sales would have been +6.8%). Laos grew 7.5% YoY while Cambodia performance was dragged by high stock level with the
in 2018 was –3.5% , same level as in 2017, following continued handset campaigns. Cost & Expense In 2018, cost of service was Bt76,700mn increasing 15% YoY due to higher D&A and cost of the partnership
purchasing power. However, from Sep-21 onward, restrictions were gradually lifted, resulting in some improvement in consumer spending. Meanwhile, competition in mobile industry remained elevated as operators
. In 2018, the Thai economy has grown at a continuously solid level with a GDP expansion of approximately 4.1% YoY. The growth is attributed to a number of factors, namely 1.) strong export growth
supported by higher margins and volume Strong improvement in the Americas business with Core EBITDA per ton of $161 vs $122 in 2Q LTM 2017. EMEA business also improved with 2Q 2018 LTM Core EBITDA per ton
.) growth in private consumption supported by higher household income in both agriculture and non- agriculture sectors along with recovering consumer confidence; 2.) solid performance in the tourism sector
the higher margin products in exhausted pipe following its ongoing improvement and development in production process. 4 (Unit: Baht million) Consolidated balance sheets As at 30th Jun 2017 As at 31st
earnings im- pact from the seasonal maintenances. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in core earnings follows on from IVL’s strategy of prudent invest- ments in the higher