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22 Super Turtle Public Company LimitedPERFORMANCE ANALYSIS (FY 2024/25 vs FY 2023/24)In FY 2024/25, the Company recorded consolidated revenue from sales, services and rental of THB 943mn, an increase of THB 280mn or 42.2% YoY. This growth was attributable to the increased performance of the following business units:%u2022 Retail business revenue was THB 569mn, increased by THB 243mn or 74.5% YoY, primarily driven by the expansion of Turtle shops to 27 shops from 22 shops. Same Store Sales Growth was 9.3% YoY and 3.9% QoQ.%u2022 Leasing business revenue was THB 294mn, increased by THB 41mn or 16.2% YoY, mainly due to an increase in the occupancy rate of the BTS Green Line leasing spaces to 64.1% from 58.2%. %u2022 Publishing business revenue was THB 80mn, decreased by THB 4mn or 4.8% YoY, mainly due to the lower sales of comic books and pocket book.Cost of sales, services and rental was THB 720mn, increased by THB 170mn or 30.9% YoY. This change was driven by the following business units: %u2022 Cost of sales and services of retail business was THB 440mn, an increase of THB 188mn or 74.6% YoY, primarily due to merchandise costs for newly opened Turtle shops. Gross profit margin was 22.7%, in line with the same period last year.%u2022 Cost of rental of leasing business was THB 223mn, a decrease of THB 16mn or 6.7% YoY. Gross profit was THB 71mn, an increase of THB 58mn or 437.0% YoY, driven by higher leasing revenue.%u2022 Cost of sales and services of publishing and book business was THB 57mn, in line with the same period last year. Gross profit margin was 28.8%, slightly down from 31.0% in the prior year.Selling, distribution and administrative expenses were THB 588mn, increased by THB 79mn or 15.5% YoY. This was mainly due to the following reasons: %u2022 Selling and distribution expenses were THB 390mn, increased by THB 1 19mn or 43.9% YoY.This increase was mainly due to salary, rental expenses and depreciation related to new Turtle shops.%u2022 Administrative expenses were THB 198mn, decreased by THB 40mn or 16.8% YoY, primarily due to a one-off impairment of goodwill and investment in associates totaling THB 39mn in FY 2023/24. Excluding the one-off impairment, administrative expenses in FY 2024/25 would have decreased by THB 1mn or 1.0% YoY.Altogether, the Company recorded a net lossof THB 280mn, though this was an improvement versus the net loss of THB 322mn in FY 2023/24.CONSOLIDATED FINANCIAL POSITION31 MARCH 2025 31 MARCH 2024(THB mn) % (THB mn) %AssetsCurrent assets 3,045 79.0% 3,553 85.2%Cash and cash equivalents 1,923 49.9% 847 20.3%Trade and other current receivables 110 2.8% 59 1.4%Current contract assets 22 0.6% 40 1.0%Inventories 65 1.7% 71 1.7%Other current financial assets 869 22.5% 2,487 59.7%Other current assets 56 1.5% 49 1.1%Non-current assets 810 21.0% 615 14.8%Total assets 3,855 100.0% 4,168 100.0%LiabilitiesCurrent liabilities 307 8.0% 331 8.0%Non-current liabilities 55 1.4% 34 0.8%Total liabilities 362 9.4% 365 8.8%Total equity 3,493 90.6% 3,803 91.2%Total liabilities and equity 3,855 100.0% 4,168 100.0%Introduction Nature of Business Business Performance Corporate Information Corporate Governance Financial Report Attachment