E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ended March 31, 2018 In the first quarter of 2018, Thai economic growth gained traction, buoyed by both domestic and international factors. However, the business sector faced rising challenges, namely various forms of competition, a borderless marketplace within the ASEAN Economic Community (AEC), and the advancing digital age amid the rapid pace of technological advancement, thus lea...

due to the recording of gain on land revaluation during the year in the amount of Baht 173.58 million and the recording loss on re-measurement of employee benefit obligation in the amount of Baht 3.76

%) Gross Profit 151.3 118.4 (32.9) (21.7%) Gross Profit Margin 55.4% 48.5% GPM before adjustment with PPA 57.0% 49.2% Revenue from Sale of Investment Properties 132.1 1,449.0 1,316.9 996.9% Gross Profit 20.5

increased 31% are results of volume impact in domestic market and also selling price adjustment to trade, regarding to raw material cost increase. ⚫ Total expenses increase 30% are mainly reflected by

resin, which is the main raw material, was higher than last year, but sell price adjustment was possible only for some customers. This resin cost impacted both Thailand and China‘s business performance

expenses decreased by 3.3% from decrement in cost of goods sold along with expenses control. However, due to the increment of temporary shutdown expenses and the adjustment of severance payment for labor

-o-Y due to the effect of the annual selling price adjustment, a change in foreign currency rates and an increase in the cost of goods sold resulting from a higher cost of raw materials Copper, Copper

The profit margin decreased slightly Q-o-Q, and dropped Y-o-Y due to the effect of the annual selling price adjustment, a change in foreign currency rates and an increase in the cost of goods sold

Metro Public Company Limited (BEM)’s gain on fair value adjustment of investment due to reclassification in the amount of Baht 2,030 Million, net of corporate income tax, as it reclassified the investment

including the impact that must result in a price adjustment and the adjustment of the selling price is quite difficult because this business group is highly competitive in the current economic situation