value measured from net assets acquired in proportionate holding on GLOW’s shares PAGE 3 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q2 2019 Operating performance by plant in Q2/2019 The company’s gross
10,169 22% EBITDA Refinery Business 1/ 1,503 916 2,198 46% 140% 3,389 5,340 58% EBITDA Marketing Business 2/ 607 669 474 -22% -29% 2,531 1,999 -21% EBITDA Power Plant Business3/ 612 789 781 28% -1% 1,991
expenses related to new recruits for new three branches and one branch expansion in the first half of 2017. In contrast, the Company opened only two branches of Maygori in the same period last year. Maygori
number of office employees to support the branch expansion plan. Moreover, in February 2017, the Company recorded the expense for the annual staff seminar which was postponed from late 2016 for THB 1.69
matter. • Progress of construction plan for Rayong Central Utilities' expansion phase This project was previously named Central Utilities Plant 4 (CUP 4) whose construction is for producing electricity and
%) Executive Summary PAGE 2 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q3 2019 Operating performance by plant in Q3/2019 The company’s gross profit was at Baht 5,467 million in Q3/2019 which decreased by 535
advertisement and promotional expenses, round up with expansion expenses from Non-Oil businesses. 3) Green Power Business Power Plant Business Performance Q2/2016 Q1/2017 Q2/2017 YoY QoQ 6M2016 6M2017 YoY Revenue
impairment of power plant under construction of SAAM Solar Power Two Company Limited, (2) increase in employee and management expenses from new hires supporting business expansion, and (3) increase in
, leading the 2018’s electricity sales to underachieve in terms of volume expansion. 2. The solar power plant projects in Japan recorded minor increase in electricity sales from the previous year (+1
% shareholding by TSE of which TSEO has invested in the solar power plant projects in category of ground mounting in Japan, totaling of 8 projects with the accredited power generation of 176.72 MW. - 8 - This