LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q3/2017 2 2. Economic Situation The Thai economic activity in the third quarter of 2 0 1 7 continued to expand. Export–oriented manufacturing businesses

low price offerings remained in the market to address weak spending power. Enterprise non- mobile business grew 6% YoY. Demand for enterprise data service (EDS) started to recover after having been

” trademark domestically to expand its customer base to younger generation through offline and online media together with sales and marketing promotion in many channels, which lead to the recovery of the

Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Management Discussion and Analysis The Thai economy is expected to gradually recover in line with COVID-19

government’s relaxation of COVID-19 prevention measures. Expand “After You Marketplace” Stores • In the first quarter of 2022, the Company opened the first After You Marketplace standalone store on Pradipat Road

branch, Suvarnabhumi Airport branch, Central Phitsanulok branch and Central Khon Kaen branch. In 2023, the Company aims to expand 5 branches of Dessert café in both Bangkok and other provinces. Expanding

the products. Furthermore, the selling points in departments and modern trade will be expanded to cover the area Besides, the Company also has the policy to add more the assets and expand the channels

1,015.77 Million in 2017 an increased Baht 122.04 Million or 13.65% due to rubber glove customers expand production, frozen foods and canning’s customers have more raw materials, can expand sale to foods

from Baht 1,015.77 Million in 2017 to Baht 1,111.09 Million in 2018 an increased Baht 95.32 Million or 9.38% due to rubber glove customers expand production, frozen foods and canning’s customers have

have also impacted costs and resulted in lower EBITDA. Our pricing has been reset for 2018 onwards and we expect to recover our EBITDA proportionately. Japan introducing punitive charges on import of PET