equipment rental, while SG&A was flat and dropped QoQ as marketing activities slowed down. EBITDA (pre-TFRS16) was Bt19,576mn, increased 3.8% YoY and 1.1% QoQ with a margin of 45.7%. Net profit (pre- TFRS16
Cash Flow is after change in net working capital and cash tax, before maintenance capex Indorama Ventures 2018 MD&A 3 FY 2018/4Q 2018 Performance Highlights FY18 core EBITDA increased by 44% YoY to
slightly increased from the previous quarter, but decreased from the same period of last year. The over-year decline could be attributed to increase in impairment loss on loans and debt securities in line
of the Annual General Meeting of Shareholders No. 1/2018. 6. Approved the allotment of newly increased ordinary shares not exceed 226,974,500 shares to support the issuance of ESOP program CCET-WC and
(3Q18) and the consolidation of the joint venture in India (1Q19). Volume for PTA also increased following the Portugal acquisition (3Q18) and the consolidation of the joint venture in Indonesia (4Q18
), Egypt (3Q18) and the consolidation of the joint venture in India (1Q19). Volume for PTA also increased following the Portugal acquisition (3Q18) and the consolidation of the joint venture in Indonesia
constituents of other revenue include management fee of CPNREIT and CPNCG amounted THB 492 mn and revenue from marketing events at THB 166 mn, and receipt of property tax due to the increased number of shopping
and FKRMM. 4. An internal control is in place as required by the announcement of Capital Market Advisory Board. NDR has already set up an internal control as required by the announcement of Capital
major component (accounts for approximately 30% of cost of rent and services) for shopping mall operations, increased from the same period a year earlier amidst the continuous rise in electricity Ft rate