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Management Discussion & Analysis

Workpoint Entertainment Public Company Limited ("The Company") is pleased to submit herewith the consolidated and separate financial statement for the 3rd quarter ended September 30, 2016, with the financial analysis in comparison to the financial statement for the 3rd quarter ended September 30, 2015. The performance can be summarized as follows:

The operating performance of the Company and its subsidiaries for the 3rd quarter ended September 30, 2016 has shown the net profit of THB 108.02 million, increasing by THB 61.92 million or 134%, from the same period in the previous year which shown the net profit of THB 46.09 million.

  1. Revenue

    In the 3rd quarter ended September 30, 2016, the total Revenue (Excluding Other Income) of the Company was THB 776.46 million which represented an increase of THB 136.0 million or 21% from the total Revenue (Excluding Other Income) of THB 640.50 million in same period of 2015. The change of total Revenue was mainly resulted from the following business:

    Revenue from Television Programs

    Revenue from television programs was comprised of revenue from the advertising and promotion during each broadcasting period of the Company’s TV channel, other TV channels and other media channels such as YouTube. Revenue from television programs also includes revenue from Renting Air time to 3rd parties for TV program broadcasting on the Company’s TV channel, revenue from the production of TV programs for 3rd parties for broadcasting on Company’s TV channel and other TV channels, and revenue from selling TV program licenses. In the 3rd quarter ended September 30, 2016, the Company had the revenue from television programs at THB 707.01 million, increasing by THB 117.56 million or 20% from the same period in 2015. The increase of revenue from TV programs, was mainly from the increase of revenue from its terrestrial digital TV channel, “WORKPOINT TV” channel. In the 3rd quarter ended September 30, 2016, WORKPOINT TV had the revenue at THB 640.38 million, increasing by THB 117.82 million or 23% from the same period in 2015.

    Revenue from Event Marketing

    Revenue from event marketing was comprised of the revenue from event activities arranged by the company and event activities which the Company organized for 3rd parties. In the 3rd quarter ended September 30, 2016, the Company had the revenue from event activities at THB 16.64 million, increasing by THB 11.54 million or 226% from the same period in 2015.

    Revenue from Concerts and Plays

    Revenue from concerts and plays was comprised of the revenue from concerts and plays produced by the Company, revenue from area rental in the Company’s Playhouse, and revenue from Playhouse’s title sponsor. The Company had the revenue from concerts and plays in the 3rd quarter ended September 30, 2016 at THB 43.62 million, the same as the revenue in the same period in 2015. The Company had organized 1 concert in the 3rd quarter, 2016 which was “Khun Pha Chuay no.6” This Concert was successful and well response by the audience.

  2. Costs

    In the 3rd quarter ended September 30, 2016, the Company had total costs at THB 429.81 million, increasing by THB 66.31 million or 18% from the same period in 2015 which had the total costs at THB 363.50 million. The increase in the total costs came from an increase in costs of television programs. Costs of television programs include Production costs, The amortization of Digital TV licenses, Networking fees, The amortization of TV program rights, Overhead costs, and Airtime rental cost (in the case that the Company rents Airtime from other TV channels to air its programs). For 3rd quarter ended September 30, 2016, the Company had cost of television programs at THB 388.09 million, increasing by THB 51.24 million or 15% from the same period in 2015. The Company had produced more TV programs such as Mic On Debt Off (MicModnee), and I Can See Your Voice. Such the programs are popular and highly successful.

  3. Selling and Administrative Expenses

    In the 3rd quarter ended September 30, 2016, the Company had selling and administrative expenses in total at THB 201.04 million, increasing by THB 14.71 million or 8% from the same period in 2015 in which the Company had selling and administrative expenses in total at THB 186.33 million. The increase was mainly from the increase in staff costs and office expenses. In the 3rd querter ended September 30,2016, Selling expenses of the Company was about the same as the selling expenses in the same period in 2015 because the Company had underbooked the commission expenses in selling expenses in the 1st half of 2015, which subsequently had adjusted in the 3rd quarter of 2015.