Page 2 Management Discussion and Analysis 1. Power Industry and Competition 1.1 Electricity industry and Economic situation in Thailand Thailand’s economy expanded by 2.4 percent in 2019, lower than 2018
2018, the Company successfully expanded its business to the Philippines to broaden customer base and diversify risk from overseas sales as well as mitigate risk of overreliance on sales in China. In
(Times) 9.77 8.44 Average Collection Period (Days) 37 43 Inventory Turnover Period (Days) 19 19 Average Payable Period (Days) 16 18 Cash Cycle (Days) 40 44 Total Debt to Equity Ratio (Times) 0.47 0.51
percent, due to the fact that every distribution channel has expanded significantly, as well as effective cost management has resulted in maintaining gross profit margin at a good level. (2) Analysis of
activities of approximately THB 2,478.04 million, increased by THB 22.59 million from 2017. The cash cycle of the Company and its subsidiaries was 7 days in 2018, decreased from 8 days in 2017. The Company and
from operating activities of approximately THB 2,013.25 million, decreased by THB 464.79 million from 2018. The cash cycle of the Company and its subsidiaries was 5 days in 2019, decreased from 7 days in
-cycle of electronic products. In the tourism sector, the number of tourist arrivals for the first five months of 2019 increased 1.6% yoy while the number of Chinese tourists which contribute about 29% of
result of the continuing decline in global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down-cycle of electronic products. In
contracted 5.3% as a result of the continuing decline in global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China, the down-cycle of electronic
result of the continuing decline in global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China, the down-cycle of electronic products and