from sales was -0.7% driven by 30.4% decline in OEM sales, particularly from OEM bottles as a result of major maintenance of a furnace in Ayutthaya early this year. Domestic Beverage including C-Vitt

881 www.aapico.com Management Discussion and Analysis for the 2nd quarter of year 2019 2 Total revenue grew by 11.1% year-on-year, driven by higher sales from the automotive parts segment. Interest

(EBITDA) 40.18 60.42 (33.51) 41.38 (2.90) 81.55 114.62 (28.86) Depreciation and amortization 13.92 9.98 39.48 13.21 5.37 27.12 19.80 36.97 Key financial ratio related with operating result (%) 2Q17 2Q16

decreased 30.54 million baht, or equivalent to 9.37% from the same period of previous year due to the Thai economy that slowed down. Spending and government investment were inadequately driven economy

from sales of goods and rendering of services in Q2/2019 was recorded at Baht 548 million, lower 20 % Y-O-Y or Baht 136 million, largely driven by the revenue recognition delay totaling amount approx

as a result of the increase in sales and other income. For total revenue in 3Q17, it was slightly increased when compared with 2Q17. The YoY sales increase was attributable to the new two outlets i.e

growth and included the sales of tooling to VinFast in Q1 2019, and higher interest income from loan to SGAH. Cost of sales and services decreased year-on-year as a result of lower car sales. As a

challenging in 1Q19. In strategic areas, aggressive price plans and handset campaigns were launched, especially in prepaid, in which AIS was competitive to preserve scale. As a result, mobile revenue grew 1.1

continued to gradually expand in the second quarter, driven primarily by the export and tourism sectors, as well as an increase in the price of rice after a prolonged period of stagnation. However, these

remained sluggish, due to weak purchasing power and the lack of any specific measures from the government. In the second half of 2017, the economy moved in a positive direction driven by industrial expansion