investments in power associates increased by 6.2%. However, if excluding the FX impact and one-time loss items, normalized share of profit from associates and joint ventures in power business increased by 52.5
the first quarter of 2020 remained high at 53.4% inclusive of PPA impact, while the genuine gross margin was 54.3%, increasing from 42.4%, comparing to the same period of last year. Utilities & Power
deferred revenue amounting to THB 2,100.6 mm to statement of comprehensive income for this period. • Share of profit from power associates and joint ventures decreased by 53.0%, mainly due to the planned
the fair value adjustment of the acquired business according to the accounting standards under WHA level. However, the genuine gross margins were at 82.3% and 57.3%, respectively. Utilities & Power
normalized share of profit from investments in power associates. • Share of profit from investments in power associates decreased by 3.3%. However, if excluding the FX impact, normalized share of profit from
investment properties resulting from the asset monetization to Hemaraj Leasehold Real Estate Investment Trust (HREIT) and increase in normalized share of profit from investments in power associates. Such
. However, the genuine gross margin in the second quarter of 2017 was at 60.6% for the warehouse rental and service business which decreased from 68.8% last year, mainly due to change in product mix between
standards under WHA level. However, the genuine gross margin in first quarter of 2018 was at 63.8%. Utilities & Power Business Q1 2017 Q1 2018 Increase/(Decrease) THB mm THB mm THB mm % Revenue 554.3 515.0
155.6%, arising from increase in available payment from GHECO-One, according to the Power Purchase Agreement (“PPA”) which is based on the principle that annual Availability Payment (“AP”) will not lower
accounting standards under WHA level. However, the genuine gross margin was 55.3%. Utilities & Power Business 2018 2019 Increase/ (Decrease) THB mm THB mm % Revenue 2,095.1 2,258.7 7.8% Gross Profit 895.2