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

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

automotive parts in Thailand, in line with the industry trend. Cost of sales and services Driven by higher sales, cost of sales and services increased year-on-year. Gross profit margin as a percentage of sales

driven by lower sales of matured branches in conjunction with the slowdown in the country’s economic conditions and competitive landscape in the industry. However, revenues from branches in the ramp-up

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

of Baht 313.89 million or down by 7.1% over the same period last year, which was driven by the big flooding in Ubon Ratchathani in September 2019 that negatively affected the Ubon Ratchathani branch

ประเทศรายได้ระดับปานกลาง โดยเปลี่ยนจากเศรษฐกิจฐานการผลิต (production-driven economy) สู่เศรษฐกิจที่มุ่งเน้นคุณค่าของสินค้า (value-driven economy)  งาน CrowdFunding Asia™ Thailand Summit 2015 ได้เชิญผู้แทน

more weight to sustainability-driven securities investment. This means issuers of such securities could gain more recognition from stakeholders and grow their business sustainably while contributing to a

decreased 84.62 million baht, or equivalent to 6.22% from the same period of previous year due to the economy that was slow down. Expenditure and government investment were insufficient for driven economy

revenue from sales of goods and rendering of services for full year 2019 was recorded at Baht 2,709 million, lower Baht 214 million or 7% from a year earlier, driven by slower-than-expected of Thailand