was Baht 199 million, an increase of 14 percent compared to the first quarter of the previous year, mainly from an increase in the Company’s sales agent fees from the sale of investment units and

quarter driven by resilient sales and margins in Integrated PET, USA PX and PIA businesses. Core net profit grew to THB 1.6B • Core EBITDA grew in all segments and in all regions as our products primarily

3rd Quarter 2017 3rd Quarter 2016 Pe rfo rm an ce Group Revenues 7,109 5,256 Group EBITDA 843 516 Group Net Profit (Loss) 53 (164) HR C HRC Sales (k tons) 393 335 HRC Production Volume (k tons) 386 323

(16.88) 0.06 (16.94) (28,133.33) Gross profit 4.14 0.17 3.97 2,435.29 Gain from sales of general investments - - - 100.00 Other income 10.88 2.44 8.44 445.90 Profit before expenses 15.02 2.61 12.41 575.48

” and making KBank the Customers’ Main Bank for all eight customer segments, we focus on creating innovations and managing financial products, as well as reinforcing our sales and service quality

2Q17, the in-mall food court business posted a 15% YoY sales growth to THB 409 mn. The increase was mainly attributed to the new food courts launched in 2016 at CentralPlaza Nakhon Si Thammarat

1 G J Steel Public Limited Management Discussion and Analysis Quarter 2 Ending 30 June 2019 Unit: million Baht 2nd Quarter 2019 2nd Quarter 2018 Pe rfo rm an ce Revenues 3,928 7,815 Sales Volume (k

persons); therefore, it no longer has control in the company, resulting in the change of MACO’s status from a subsidiary to an associate company of VGI.  After the restructuring, MACO will focus on

projects. However, selling expenses declined from lower revenue from sales and services. Finance cost The finance cost decreased by 42.4% yoy to THB 15 million, attributable to the repayment of long-term

(16.81) (5.20) (11.61) (323.27) Gross profit 7.20 2.32 4.88 310.34 Gain from sales of general investments 14.00 - 14.00 100.00 Other income 3.35 4.89 1.54 68.51 Profit before expenses 24.55 7.21 17.34