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CPALL No. IDR 23/2021 Date : 11 November 2021 Re : To : Management Discussion and Analysis ( MD & A ) for the Third Quarter of 2021 The President The Stock Exchange of Thailand CP All Public Company Limited ( the Company or CPALL ) would like to report operating results for the third quarter of 2021 which the Company and its subsidiaries reported net profit of Baht 1,493 million . The main reasons are as follows : Total Revenue CPALL reported total revenue at amount of Baht 130,344 million , decreased by 3.8 percent YoY which mainly from the stricter protective measures to control COVID - 19 since the end of the second quarter such as night curfew in 29 provinces which affected to a decrease of operating hours . However , employing offline to online strategy ( 020 ) was able to offset some impact mentioned above as it offered another distribution channel of goods and services that responded to the change of customer behavior . Gross Profit In 3Q21 , CPALL recognized consolidated gross profit from sales and services at Baht 26,264 million , decreased by 8.1 percent YoY mainly due to a decrease in sales revenue and service income along with an increase of distribution center cost as a consequence of the COVID - 19 pandemic . For consolidated gross profit margin , also decreased to 21.0 percent from 22.0 percent in 3Q20 . Distribution Costs and Administrative Expenses In 3Q21 , CPALL reported proportion of distribution costs and administrative expenses as follows Costs and Expenses 3Q21 Employee benefits 29.4 % Store management fees 15.9 % Rental and depreciation and amortization 18.5 % Advertising and sale promotion 14.0 % Utilities and others Total 22.2 % 100.0 % 1