principles and changing advanced technologies. The proposed revisions would apply to future exchange, derivative clearing house, securities clearing house and securities depository with regard to improvement

and administrative expenses increased by Baht 2.12 million or 2.59% the main reasons are the expenses incurred from the expansion of subsidiaries, staff cost and expenses of hospital quality improvement

foundation improvement for Huay Bong 2&3 Wind Farm at June 30, 2017 are as shown in the table. Description Estimated total improvement cost (until year 2016) Estimate and cost for accounting recorded in 2017

by 3.4 mil. baht. - Total expenses increased 9% mainly due to: 1) Cost of rental and service was up by 2.6 mil. baht or 7% as depreciation expenses increased from investment to upgrade office buildings

the sale growth of products during the period as compared. However, the Company has shown continuing effort to improve its net profit margin and is still expecting for an upgrade performance in the

consideration for the second half of the year and is still aiming for an upgrade performance in the new coming years. Please be informed accordingly Sincerely Yours, ----------------------------------- (Mr

continually and closely monitoring the trend to improve its net profit margin and is still expecting for an upgrade performance in the upcoming year. Please be informed accordingly Sincerely Yours

ได้แก่ ระดับปรับปรุง (Upgrade) ระดับผ่าน (Pass) ระดับดี (Good) และระดับดีเยี่ยม (Excellent)

per ton (YoY) in an otherwise strong season. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in IVL’s core earn- ings follows on from IVL’s consistent strategy of prudent

supported by higher margins and volume  Strong improvement in the Americas business with Core EBITDA per ton of $161 vs $122 in 2Q LTM 2017. EMEA business also improved with 2Q 2018 LTM Core EBITDA per ton