remains sluggish, resulting in the contraction of advertising expenditures by 11.4% YoY to 26,351mn in the third quarter of 2017. Overall advertising spending was weighed down by TV sector (Analogue TV
million (THB 8.4 billion), -7% YoY, Core EBITDA margin 10% Core Net profit after tax of $128 million (THB 4.0 billion), -27% YoY Core Earnings Per Share of THB 0.67, -32% YoY Operating Cash Flow of
of $304 million (THB 9.6 billion), -7% YoY, Core EBITDA margin 10% Core Net profit after tax of $128 million (THB 4.0 billion), -27% YoY Core Earnings Per Share of THB 0.67, -32% YoY Operating
Ventures 2nd Quarter 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 2nd Quarter 2018 Structural Improvements Driving Earnings Momentum 2Q18 Core EBITDA up 63% YoY, 1H18
earnings (EBITDA). Shareholders, including the majority shareholders, expressed their faith in the performance and future prospects of the Company and subscribed, in large numbers, to the warrants (IVL-W1
campaigns across Beverage and Food businesses resulting in higher sales growth while maintain spending level. Administrative Expenses Administrative expenses of Q3’2018-2019 was Baht 519 million, about flat
income. Public spending also increased from spending on goods and services and compensation expenses while capital spending declined from the high base effect of last year from the disbursement of
quarter but may be restrained by vulnerable and highly uncertain household income as well as elevated household debt. These factors are causing customers to be cautious on spending. Moreover, the tourism
remaining two segments, Integrated Oxides & Derivatives and Specialty Chemicals are expected to resume their earnings from unplanned shutdowns, except IPA which we believe will recover over the next 12-18