continuously increased over the past few years as evident from an acceleration of its advertising expenditures by 3.6%1 YoY to THB 1,678mn in 3Q 2017, benefiting from the shift in people’s behavior to spend more

% YoY. Nevertheless, Outdoor media - our focus segment- recorded THB 1,525mn in advertising expenditure, an increase of 3.8% QoQ and 11.0% YoY, benefiting from a shift in people’s behavior to spend more

increased over the past few years, benefiting from the shift in people’s behavior to spend more time outside as well as its strength as being a media that reaches consumers when they are on the go and

% YoY to THB 14,125mn. Meanwhile, Outdoor media– segment which MACO focuses on – bucked the trend, increased by 12.8% YoY to THB 6,391mn. In recent years, advertising industry has witnessed the shift in

1 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 MEDIA INDUSTRY In recent years, advertising industry has witnessed the shift in the media

3,169mn. OOH media continues to benefit from the structural shift in the media industry and people’s behavior to spend more time outside. Online media, which reports on a yearly basis by the Digital

sale decreased 3.71 percent from consolidated. The main revenue generated from furniture as the core business was approximate with the previous year. Other income increased significantly from interest

Furniture 4.0” which increased by 69.6%, domestic project which increased by 14.2%, online channel which increased by 167.5%, and rental and rendering of services which increased by 15.2%. Total contribution

business restructuring decreased of Baht 204.45 million due to in 2016 the Group has restructured of the publishing and distribution of publications due to the shift of consumer trends. The Group has set up

quarter of 2016, the Group has restructured of the publishing and distribution of publications due to the shift of consumer behaviors. The Group has set up a provision for inventory obsolescence and written