is awaiting transfer of ownership and the commercial area is under development Project the City Hat Yai Songkla provice, there are 4 condominium units with 1 building as a condominium for sale. The

mainly due to Veranda Residence Hua-Hin ownership transferred and also growth of revenue from sales of food and beverage business due to acquisition of Gram pancackes and Pablo Cheesetart during Q4/2019

results were, Description 1H/2016 1H/2017 Differentiate (Unit: Million THB) Million THB % Million THB % Million THB % Operating Revenue Income from Sales of real estate 991.3 97.14 2,024.2 98.53 1,032.9

is awaiting transfer of ownership and the commercial area is under development Project the City Hat Yai Songkla province, there are 4 condominium units with 1 building as a condominium for sale. The

proportion to the increment of revenue 3. Other income was 373.10 million baht, an increase of 368.34 million baht or 7,751%. From the sale and transfer of Ownership of land 487.86 million which is in the

operation expenses in proportion to the increment of revenue 3. Other income was 371.40 million baht, an increase of 369.09 million baht or 15,982%. From the sale and transfer of Ownership of land 487.86

(85.72%) by compared with the net profit at 269.06 million baht same period at last year. The changing over than 20% from the main causes as follows: 1. Revenue from decoration service 281.79 million baht

) (134.10) 1. Revenues from sales 1.1. The company does not have income from the ownership transfer of condominium units in the quarter 2nd of year 2020 due to The Situation of the outbreak of Covid-19 and

totaled THB 1,401.68 million or 1.67 percent. As a result of effective ownership transferring was increase. Rental income and service revenue The Company and its subsidiaries’ rental income and service

Veranda Resort Public Company Limited Management Discussion & Analysis Q1/2020 Management Discussion & Analysis Q1/2020 Revenue Structure Hotel 45.3% Property development 46.4% Food and beverage 6.1