standards was recognized as an adjustment to the retained earnings as at 1 January 2020, and the comparative information was not restated. The impact of the adoption on the consolidated statement of financial

, net - 67 -100.0 - 173 -100.0 NCI - (3) 100.0 (3) (12) 75.0 Profit attributable to Equity holders of the Company 152 3,118 -95.1 660 3,977 -83.4 Basic earnings per share (Baht) 0.01 0.20 0.04 0.26

attributable to owner of the parent 150.57 267.77 (117.20) (43.77%) 465.05 609.48 (144.42) (23.70%) Earnings per share (EPS) 0.09 0.16 (0.07) (43.77%) 0.28 0.37 (0.09) (23.70%) Raw water costs 52% Tap water

decrease in retained earnings of THB 210 million accounted for the 2019 interim dividend approved by the Board of Directors at the amount of THB 1,952 million (THB 0.65 per share), offsetting with profit for

from Baht 14,049.3 million at the end of 2018, mainly decreased from adopting new accouting standard (TFRS 15) in Retained Earnings. As at 31 December 2019, the Company’s Debt-to-Equity ratio was 0.95x

& Distribution Expenses per net sales 6.4% 6.7% (0.3%) 6.0% 6.2% (0.2%) Administrative Expense per net sales 11.1% 10.9% 0.2% 8.3% 8.2% 0.1% Net profit margin 5.1% 5.5% (0.4%) 6.9% 6.7% 0.2% - Basic earnings per

ค่าใช้จ่ายภาษีเงินได้ 28.97 30.84 -1.87 -6% ค่าใช้จ่ายทางการเงิน -5.33 -5.87 -0.54 -9% ค่าใช้จ่ายภาษีเงินได้ -4.36 -6.68 -2.32 -35% ก าไรส าหรับงวด 19.28 18.30 0.98 5% Earnings per share (บาท) 0.06 0.06

% Finance cost 18.41 36.80 18.39 99.89% Income tax expenses 22.21 28.27 6.06 27.29% Net profit 80.50 95.26 14.76 18.34% Net profit ratio (ROS) 18.98% 20.67% Earnings per share (Baht) 0.13 0.16 0.03 23.08

resulted in the decrease in the retained earnings in the amount of THB 1,812.50 million. Management Discussion and Analysis For the 1st Quarter Ended 31 March, 2020 Page 10 4. Analysis of cash flows Cash and

Earnings per share (Baht per share) 0.025 (0.008) 0.034 403.19 Net Profit (Loss) The Company and subsidiaries (Consolidated) realized net profit of 132.25 million Baht in the 1st quarter of 2020, and net