MD & A

According to the separate financial statements and consolidated financial statements subsidiaries for the 2st Quarter of 2024, Sub Sri Thai Public Company Limited ("The company") and its subsidiaries had the Net Loss of 74.82 milion Baht which had increased 86.50 million Baht or 741% compared with amount of The Net Profit of 11.68 milion Baht of the operating result for the 2st Quarter of 2023. and The company and its subsidiaries had the Net Loss attricutable to Equity holders of the company of 50.04 millon Baht which had increased 64.14 million Baht or 455% compared with amount of The Net Proft attributable to Equity holders of the company of 14.10 million Baht of the operating result for 2st Quarter of 2023. The company would like to clarify the operating result as follows :

• The sales , service income and other income of the 2" Quarter of 2024 by segment (according to note to consoldated financial statements for the three months ended June 30, 2024) are as the following :
  • Warehouse and Wharf business had total sevice income of 92 million Baht compared withamount of total service income of 94 million Baht for the 2" Quarter of 2023 which had decreased 2 million Baht or 2% .
  • Food and Beverage business had total sale of 707 millon Baht compared with amount of total sales income of 831 million Baht for the 2" Quarter of 2023 which had decreased 124 million Baht or 15% from delay and slow down the new business (durian) .
  • Fashion business had total sale of 67 million Baht compared with amount of total sales income of 61 million Baht for the 2" Quarter of 2023 which had increased 6 million Baht or 10% from increasing online distribution channels.
  • Other income had total other income of 29 million Baht compared with amount of total other income of 45,million Baht for the 2" Quarter of 2023 which had decreased 16 million Baht or 36% from sales of member card , design services of Greyhound Fashion and gain /loss from disposal of exchange rate.
• The cost of sales and services
  • The cost of sales 308 million Baht compared with amount of total cost of sales 372 million Baht for the 2" Quarter of 2023 which had decreased 64 million Baht or 17% and proportion of cost of sales per total revenue in 2024 and 2023 were 34.38% and 36.08% respectively. from delay and slow down the new business (durian).
  • The cost of services 57 million Baht compared with amount of total cost of services 60 million Baht for the 2" Quarter of 2022 which had decreased 3 milion Baht or 5% and proportion of cost of services per total revenue in 2024 and 2023 was 6.36% and 5.82% respectively.
• The selling and administrative expenses (SG&A)
  • The seling expenses 436 million Baht compared with amount of total selling expenses of 442 milion Baht for the 2" Quarter of 2023 which had decreased 6 million Baht or 1% decreasing from personnel cost, rental and service costs, by proportion of selling expenses per total revenue in 2024 and 2023 were 48.66% and 42.87% respectively. from the provision fon for deteriorated goods ( Durian )
  • The administrative expenses 117 milion Baht compared with amount of total seling expenses of 92 million Baht for the 2" Quarter of 2023 which had increased 25 million Baht or 27% increasing from employees expenses, director remuneration, administrative expenses, writer off expense, other expenses of restaurants in foreign and propoportion of administrative expenses per total revenue in 2024 and 2023 were 13.06% and 8.92% respectively.
• Share of gain from investent in an associate of 3 million Baht compare with amont of share of gain from investment in an associate of 15 million Baht for the 2" Quarter of 2023 which had decreased 12 milliion Baht or 80% . From the associate's profit decreasing due to the lower fair value assessment.
• Financial cost was 56 million Baht compared with amount 60 milion Baht for the 2" Quarter of 2023 which had decreased 4 milion Baht or 7% from issuing new debenture and from effective debt management .



For the statements of financial position as 30 June 2024 the company has has total ass of 7,235 million baht (year end 2023, total assets were 7,631 million baht) decreased by 396 milion baht or decreased by 5% and total liabillities were 4,749 milion baht (in 2023, total liabilties were 4,962 milion baht), decreased by 213 milion baht or decrease 496. mainly total assets and total labilties decreased from issuing new debentures to redeem the maturing debentures. For the ratio Total liabilies to total shareholders' equity (DIE Ratio) in 2024 was limes (1.85 times in the year end 2023) which had increased 0.06 times or 3%.