(days) 10 10 8 Profitability Ratio Gross Profit Margin 11 (%) 12.17 14.99 16.41 Operating Profit Margin 12 (%) 8.00 11.74 12.12 GFPT Public Company Limited Management Discussion and Analysis for the Year

its profitability. In 2Q18, net profit for stood at THB 2,935 mn, a 18.2% increase YoY. Net Profit In 2Q18, CPN reported a net profit of THB 2,935 mn, an increase of 18.2% YoY (for the first six months

758 million (or -4.1%) from 31 December 2018 primarily from lower retained earnings of THB 687 million as the Company paid 2018 dividends to OSP shareholders in Feb’19 and May’19 and 2019 interim

to the parent 205.93 236.49 (30.56) (12.92%) 1,044.79 1,117.52 (72.73) (6.51%) Earnings per share (EPS) 0.12 0.14 (0.02) (12.92%) 0.63 0.67 (0.04) (6.51%) Raw water costs 52% Tap water costs 36% Rental

. Results of Operations and Profitability Q3/2017 Sales Revenue The Company and its subsidiaries recorded sales revenue of Baht 1,500 million, a decrease of 15% YoY but an increase of 9% QoQ with details as

324.92 285.34 (39.57) (12.18%) 1,060.36 991.54 (68.82) (6.49%) Earnings per share (EPS) 0.20 0.17 (0.02) (12.18%) 0.64 0.60 (0.04) (6.49%) Note: 1) Revenue and Cost that were recognized when there is

%) Net profit 243.92 224.96 (18.96) (7.77%) 1,318.61 1,232.02 (86.59) (6.57%) Net profit attributable to owner of the parent 248.87 229.64 (19.23) (7.73%) 1,309.23 1,221.18 (88.05) (6.73%) Earnings per

days 69 72 63 Cash Conversion Cycle days 81 75 66 Finanial data and profitability ratios Sales revenues million baht 49,269 46,887 46,938 %change (%) 5.1% (0.11%) 6.51% Gross profit million baht 12,547

%) 614.64 586.02 28.62 4.88% Net profit attributable to owner of the parent 267.77 277.96 (10.19) (3.67%) 609.48 580.63 28.85 4.97% Earnings per share (EPS) 0.16 0.17 (0.01) (3.67%) 0.37 0.35 0.02 4.97% Raw

495 million (or -2.7%) from 31 December 2018 primarily from lower retained earnings of THB 473 million as the Company paid 2018 dividend to OSP shareholders in Feb’19 and May’19 at total amount of THB