common control basis. 2017 2018 2017 2018 Profitability Ratios Liquidity Ratios Gross profit 1 (%) 58.3% 48.5% Current ratio (times) 1.4 1.5 Operating EBITDA (%) 36.5% 25.4% Quick ratio6 (times) 1.4 1.5

NATIONWIDE COVERAGE 8 SIX-MONTH CASH FLOW SNAPSHOT KEY FINANCIAL RATIOS 2Q 2018 2Q 2019 31-Dec 2018 31-Jun 2019 Profitability Ratios Liquidity Ratios Gross profit 1 (%) 61.0% 37.9% Current ratio (times) 1.5

to the aforementioned consolidation and cost of digital billboards network. As operating revenue increased more than cost of sale, Gross profit margin grew to 63.3% from 56.1% in the same period last

lower revenue, higher administrative expenses, and a recognition of share of net losses from investments by the equity method. The Company reported net loss of THB 23 million compared to net profit of THB

debt to equity net of cash and cash equivalent and short-term investments Table 4: Key Financial Ratios 2Q 1Q 2Q YoY QoQ 6M 6M YoY 2019 2020 2020 (%) (%) 2019 2020 (%) Profitability Ratio Gross profit

Financial Ratios 2Q 1Q 2Q YoY QoQ 6M 6M YoY 2019 2020 2020 (%) (%) 2019 2020 (%) Profitability Ratio Gross profit margin (%) 49% 51% 29% (21%) (22%) 51% 43% (7%) Rent and services (1) 49% 51% 30% (19%) (22

its profitability. When compared to 4Q18 (QoQ), CPN reported increases gross profit ratio and operating profit ratio by 1.4% and 5.3% respectively, thanks to effective cost management at all levels of

Financial Ratios Financial Ratio Unit Year ended December 31, 2017 2018 2019 Profitability Ratio1 Gross profit margin2 % 78.67 81.84 82.55 Operating profit margin3 % 59.00 53.37 50.71 Cash flow to income

Times 6.10 Times 5.03 Times Payable Period 65 Days 58 Days 59 Days 72 Days Cash Cycle 123 Days 128 Days 113 Days 112 Days PROFITABILITY RATIO Gross Profit 49.16 % 49.20 % 48.67 % 48.92 % Operating Profit

Ratio (Time) 4.7 4.1 Collection Period (Day) 22.5 23.6 Stock Turnover Period (Day) 8.3 6.8 Payment Period (Day) 33.9 33.3 Profitability Ratio Gross Profit Margin (%) 15.0 12.2 Operating Profit Margin