higher demand from Cambodia and Myanmar. The Company’s sales to Myanmar and Cambodia hit a record high in 3Q19 and 4Q19 respectively. As to leverage the leading position in Cambodia, carbonated Carabao

the reduction in sugar price and related excise tax as well as costs relating to outsource of non-carbonated energy drink production since August 2017. As mentioned above, gross profit margin of

million and in payment for additional capital of the associate for Baht 1,365 million. • Net cash used in financing activities of Baht 2,379 million resulting from the loan repayment according to the long

additional capital of the associate for Baht 902 million. The company had net cash used in financing activities of Baht 1,594 million resulting from the loan repayment according to the long-term loan

overseas businessk, we solely export energy drink in three formats including bottle, non-carbonated can, and carbonated cans under Carabao trademark. Our revenue from overseas sales amounted to THB 5,024mn

Afghanistan and Yemen amounted to THB 58 million and sales from other countries amounted to THB 23 million which may seem small but has high growth potential in the long run. Apart from overseas sales under the

53 million or 30.5% since these are non-core products but tools to expand the Company’s brand awareness. The new product, carbonated Carabao Green Apple flavor in a 180-ml can (“Carabao Green Apple

2018, were an instructive factor to cost savings of the Company’s non-carbonated canned energy drink. In the 1H/2020, gross profits were THB 3,556 million, an increase of THB 956 million or 36.8

had reached 100% utilization rate since 4Q/2019 after its first commercial run in November 2018, were an instructive factor to cost savings of the Company’s non-carbonated canned energy drink. Having

enhance a company’s ability to generate long-term financial returns. Businesses that fail to make sufficient investments in the future can doom themselves to irrelevance. These businesses need us—their