Dividends -23.0 10.8 1999 Leverage adjustment Total leverage adj 5.3 Operating leverage adj -4.0 9.3 2008 Turnover control Optimal control 9.0 No control 4.6 4.5 2002 Selection effect Fundamental 4.6 Cap

Baht 2,202 million in Q4’2018 to Baht 2,413 million in Q1’2019 due to lower scheduled maintenance and lower expense from the seasonally peak of SG&A in Q4. • EBITDA margin in Q1’2019 was 23.5% compared

consumption across the world, attributed to the COVID-19 outbreak. Furthermore, domestic demand for fuel consumption declined leading the refinery to lower its production level to an optimal levels, average

: 188,249 #!" 7S" , !I 4 #-9:H 96.5 HI 4 #"XGI off- peak RP:IS"XGI-9:9#"-."7Gkkl#GH"G#:, ""78 9:HI HRC "#/"9D -G ! 17,403 -/#!" IH 7 #/ GH" /G""P:IS"4 7-9:-.#! I#7 4G""# T -9: !#! I "H "9D U HIVMW

per available room or RevPar, resulting in greater revenues. On a QoQ basis, performance of hotel business grew by 5%, mainly from Santiburi Beach due to the peak tourism season of Samui Island in the

peak in Q1 2019 and then will be repaid over the rest of the year. There was no dividend payment in 1Q 2018. In line with our current strategy of regular dividends 1Q 2019 will have a payout of 0.12THB

contribution of the Engineering division experienced a peak 16mTHB EBITDA contribution. Looking forward in Q2 2018 with the contribution of the 7 kilns operating in Golden Lime and 2 more in the fully

is a millimeter-wave band that can provide additional capacity and deliver the extremely high data rate in Gigabit per second (peak data rate is 20 times faster than 4G) required by some Enhanced

-peak period (during the low electricity tariffs) and the average capacity utilization was only 61%, thus, the current estimated useful lives under straight-line depreciation method caused the Company to

usage of machineries in the past 5 years during 2015-2019 where it was found that during such period the Company had not fully utilized the production capacity. The Company has produced only the off-peak