Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary CPN’s total revenue and net profit continues to grow according to its business plan

was 193.74 million Baht and 148.71 million Baht, respectively, or accounting for 9. 81% in 2017 and 7. 60% in 2018. The decrease of the net profit in 2018 derived from the decreasing number of Chinese

while revenue from residential projects is expected to increase in 2H19 and accordingly with CPN’s business plan. In 2Q19, growth in the Thai economy decelerated primarily driven by a decline in export

Airways Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the year ended 31 December 2019 Executive Summary The Thai economy in the last quarter in 2019 continued to grow

inform via the SET system. 2) Right adjustment as a result of dividend payment in the amount of money exceeding 80 percent of net profit after income tax subject by the Company The Annual General Meeting

first quarter ended March 31, 2019 with those of 2018. This report discusses principal changes in the reviewed consolidated financial statements. Overall market environment The Thai economy for the first

Airways Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the year ended 31 December 2018 Executive Summary The Thai economy in the last quarter in 2018 continued to grow

) (282) -31% Net profit attributable to owners of the parent 620 370 68% (1,546) 140% 1,732 2,463 -30% Basic earnings per share (Baht) 0.38 0.27 (1.12) 1.18 1.79 Note: 1/ EBITDA from Refinery Business of

were tight which were impacted by the announcement of permanent shutdown of a synthetic fatty alcohols plant in Europe and temporary shutdown in some Chinese fatty alcohols plants due to more strictly

Microsoft Word - MDA_Q417_DTC_ENG_v4.3 Dusit Thani PCL Management Discussion and Analysis 2017 P a g e | 1 Executive Summary The company reported net profit of THB 267 million in 2017 driven mainly