baht, respectively, increasing by 129.72 million baht or 39.17 percent compared to the year. Before Caused by increased revenue Therefore increasing the cost of service and because Euroasia Total

in joint venture (21) 0.01% - 0.00% (21) 0.00% Finance cost (8,726) 2.39% (4,262) 2.17% (4,464) 104.74% Profit (loss) before income tax income (expenses) 33,242 9.10% (23,851) 12.15% 57,093 239.37

) before income tax income (expenses) 67,663 10.79% 33,874 7.13% 33,789 99.75% Income tax (expenses) income (9,122) 1.46% 2,911 0.61% (12,033) 413.36% Profit (loss) for the period 58,541 9.34% 36,785 7.75

1 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 Management Discussion and Analysis 2019 2 March 2020 KEY EVENT IN 2019 In 2019, UWC announced a corporate restructuring, which featured in changing in many

changing in many key management positions and business strategies in order to enhance efficiency and growth. Under new structure, UWC shifted the focus from less competent business such as renewable energy

% (15,696) 113.17% Share of profit from investment in associate 2,436 0.24% 719 0.08% 1,717 238.80% Profit (loss) before income tax income (expenses) 120,118 12.03% 98,812 11.66% 21,306 21.56% Income tax

shop for daily necessities, corresponding to the changing customer behavior. The new store concept features the Company’s products such as ‘Santa Cookie’, soft chocolate cookie which customers can take

significant changing is detailed as follows: Total Expenses for the three month of the year 2020 equal to Baht 234.72 million compared with the three month of 2019 which had amount of Baht 186.20 million by

materially affect investors’ investment decision such as 1. serious damages 2. changing in issuer’s objects or the nature of business 3. events of default 4. entering into an agreement entrusting other persons

% 0.29 0.0% -82.4% Profit before finance cost and income tax expenses 174.24 21.3% 171.66 22.0% 172.29 22.5% 0.4% -1.1% 720.04 21.6% 702.29 22.3% -2.5% Bank charge (3.16) -0.4% (2.21) -0.3% (2.12) -0.3