have booked in late 2017 and hence limited our ability to generate more license sales in 2018. Cost of Service Despite an 8.5% increase in revenue, our cost of service decreased by 4.44 mb or 1.5 % to

318.17 million or up by 7.91% over the same period last year. Despite the higher cost of transportation due to increasing fuel prices, gross profit margin as a percentage of sales has increased from 26.05

Operations Cost of hospital operations in 2Q’19 increased by 10% yoy. in line with the increase of income despite extra cost recorded in 2Q’19. Due to the new labour law which was effective in May 2019, the

of bank loans for the acquisition of the remaining shares of the subsidiary. Page 3 of 4 Net Profits The consolidated profit before non-controlling interest of 2Q’18 decreased by 10% yoy despite the

quarter again on target. We met our key financial objectives, such as EBITDA and net income, despite a very weak sugar season, via launching commercial sales of a new product, extending the export markets

. Private consumption and investment tend to increase despite some of them slowdown from the outbreak of Omicron-type COVID-19. Public expenditures expanded comparing to the Q1-2021 due to capital

Krungthai ZMICO Securities Co., Ltd. “Krungthai ZMICO” (formerly KT ZMICO Securities Co., Ltd.), which the Company has 49.71% shareholding, decreased by Baht 5.83 million from last year. Despite the decline

(035) 350 880 Fax (035) 350 881 Website: www.aapico.com Management Discussion and Analysis for the 1st quarter of year 2017 2 Cost of sales and services Despite higher sales, cost of sales and services

increased corporate tax liability, despite a lower finance cost. This resulted in basic earnings per share of Bt1.15 for the second quarter of 2017 and Bt2.28 for the first six-month period of 2017. Total

reached 1,371.42MB, an increase of 78.15MB or 6% from 1,293.27MB in Q2 2016. This mainly resulted from a significant increase in USD zinc price and continued advantageous market premium, despite a decrease