domestic tourists and earnings of Thai labor have declined while unemployment rate has been increasing. In addition, whilst private consumption shows some growth but limits in some areas; therefore

% -2% 31% 30% 1% Administrative expenses 41.56 39.07 6% 140.90 112.68 25% Earnings before interest, taxes and depreciation 116.15 114.01 2% 302.68 270.02 12% % Earnings before interest, taxes and

subsidiaries as discontinued operations for the years prior to the year in which these subsidiaries were sold. (6) Adjustment to earnings are Net gain(loss) on foreign exchange, Impairment gain(loss), Gain(loss

expenses 42.73 79.69 (36.96) (46.38) 104.01 147.50 (43.49) (29.49) Administrative expenses 32.34 45.05 (12.71) (28.22) 65.37 88.52 (23.15) (26.15) Earnings before interest and taxes (EBIT) (6.69) 7.28 (13.97

ordinary shares 891.31 891.31 - - Retained earnings-Appropriated 45.40 45.40 - - Retained earnings-Unappropriated (565.27) (594.70) 29.44 -5% Other components of shareholders' equity 492.66 493.33 (0.67) 0

61.27 67.82 (6.55) (9.66) Administrative expenses 33.04 43.47 (10.43) (24.00) Earnings before interest and taxes (EBIT) 10.97 (2.70) 13.67 (506.71) Financial costs 2.77 1.09 1.69 155.39 Income tax

) -277.78% Other income 0.68 0.81 19.12% Earnings before interest and taxes 16.90 49.87 195.09% Finance costs (0.26) (0.60) 130.77% Profit before income tax expense 16.64 49.27 196.09% Income tax expense

exchange gain/(loss) (0.35) 0.32 -191.43% Other income 2.36 3.11 31.78% Earnings before interest and taxes 64.97 237.44 265.46% Financial expense (2.30) (2.31) 0.43% Profit before income tax expense 62.67

price and time. Discussion and Analysis of the Company and its subsidiaries Operational Results in 2018 and 2017 Corporate Revenue In 2018 the Company and its subsidiaries’ total earnings amounted to 880

-53.56% Basic Earnings per Share 0.35 0.25 (0.002) 0.23 1.79 0.83 -53.56% Performance Report Issue of trade war between the United States and China affected the overall global economy as well as the