beverage were somewhat outstanding. Currently, the Company is expanding the new coffee brand into more office locations and is exploring opportunities to add Mikka corner to some of the existing After You

with Q1/ 2021, the reason for the decrease because the main raw material, which is Sweet corn can be harvested late due to inclement weather, making it unable to operate at full capacity and fully

industry Black Liquor from Paper Mill Used Oil/Solvent from Chemical Industry Used Tires from Auto Industry Waste Reject from Paper Mill Actual 2020: 14.3% substitution by heat • • • Raw Mill Cement Mill

start to recognize revenue from the solar power plant in Japan, Ichinoseki Solar Power 1GK (ISP1). This marks an important milestone for GPSC and PTT group in expanding its power business abroad also

production was partly offset by lower volumes at PHP plant in Germany due to force majeure by raw material supplier. Quarterly Last Twelve Months 1Q18 4Q17 1Q17 1Q18 YoY LTM 1Q18 LTM 1Q17 LTM YoY Production

) % Total Sales and Services revenue 2,232.71 2,249.07 16.36 0.73% Raw water revenue 1,433.96 1,310.05 (123.91) (8.64%) Tap water revenue 702.23 708.00 5.77 0.82% Rental and services revenue 85.73 82.68 (3.05

reliance on sales in China. At present, the Company’s products are well- received in the Philippines but still could not make up for the slowdown in sales in China. The Company is committed to expanding

in China. The Company is committed to expanding further to other potential countries and is in the process of conducting market feasibility studies in certain markets. Apart from that, the Company was

expanding business, Management Discussion and Analysis of Business Operation for 1Q/2018 Bangchak Corporation Plc. I 4 thus incurring high initial selling, general, and administrative expenses, which led to a

for the slowdown in sales in China. The Company is committed to expanding further to other potential countries and is in the process of conducting market feasibility studies in certain markets. Apart