Management’s Discussion and Analysis Electricity Sales to EGAT • Electricity sales to EGAT increased 14.3% year- on-year from Baht 16,933 million in 2016 to Baht 19,354 million for in 2017. • The volume of

introducing new products, under the company’s strategic plan to expand the business. The Marketing Business recorded total sales volume declined 6% YoY and 13% QoQ, mainly from the decline in sales of fuel

Public Company Limited entered into the MRT Blue Line Concession Agreement with the Mass Rapid Transit Authority of Thailand (the “MRTA”) on March 31, 2017 for the concession period of 33 years. The MRT

entered into the MRT Blue Line Concession Agreement with the Mass Rapid Transit Authority of Thailand ( the “MRTA”) on March 31, 2017 for the concession period of 33 years. The MRT Blue Line Project

Baht 4,713 million in Q4’2017).  The volume of electricity sold to EGAT increased 5.8% y-on-y and 5.8% q-on-q to 1,749 GWh in Q1’2018 (1,653 GWh in Q1’2017 and 1,654 GWh in Q4’2017), primarily due to

12.4% 8,805 9,691 10.1% Electricity Sales to EGAT • Electricity sales to EGAT increased 16.2% y-on-y and 10.3% q-on-q (Baht 17,012 million in 9M’2018 / Baht 6,283 million in Q3’2018). • The volume of

: Nielsen). For 2018, the Company is planning to launch new products into new categories besides ready-to- drink fruit juice. The focus is mainly on health products but also able to reach the mass market

will focus on more premium products to increase profitability, and more mass products to increase sales volume, both in the fruit juice category as well as other categories, which will also help reach

for consumption to decelerate. Government investment expanded as a result of the disbursement for mass transit and telecommunication projects, while private investment, in spite of signs of improvement

service income increased 3.3% q-on-q from Baht 9,933 million in Q4’2018 to Baht 10,257 million in Q1’2019 primarily due to an increase of volume and selling price of electricity and steam and the SPP1