of utility services in Q1/2018 compared with those in the same period of 2017, (while utility service income is stable), are attributable to the road and water system repairing cost. ▪ An increasing

, increasing +96.2% YoY. The gross profit margin was relatively stable as high proportion of the costs was revenue sharing costs to marketing partners which vary according to the income. Services income from

assets were Bt34,905mn stable from 2017 as higher account receivables, following a larger base of postpaid customers, was offset by lower cash. Total non- current assets were Bt255,600mn increasing 2.6

YoY with a margin of 43%. Normalized EBITDA was Bt38,659mn increasing 2% YoY, with a margin of 43.7% in line with the full-year guidance of stable YoY. With the 1800MHz spectrum license acquired in Sep

expansion is still subjected to the rising cost of living, in which the inflation rate in 4Q/2022 reached 5.8%, the household debt ratio is considered high amid the increasing trend of interest burden but

was Bt33,962mn, increasing 2. 5% YoY and 0. 8% QoQ, against the mid- single digit growth FY19 guidance. EBITDA stood at Bt18,906mn, flat YoY but increasing 4.6% QoQ following revenue improvement and

stable QoQ. Return on Asset stood at 13.9% which increased from 2Q18. This resulted of efficiency in ARPU management and cost effective control. Return on Equity stood at 46.0%, increasing from 2Q18, due

Competitive Environment In 4Q17, the mobile competitive landscape was stable in terms of both handset campaigns and pricing. Postpaid segment continued to be a key focus with handset campaigns to gain new

remained around Bt600. FY19 Operational summary At the end of 2019, total mobile subscribers grew to 42mn, increasing 2.1% YoY. Postpaid segment continued to grow strongly, adding 918k, driven by promotional

year 2018 amounted to THB 836 million which loss higher than last year mainly due to HRC selling price is stable whilst the cost for import scraps is continuous increase. However, for the year 2018, the