in the automotive industry have recovered. As a result, ocean freight began to resume playing a role in the Company's operating results. Cross Border Service is an alternative service that is very

Company Limited Page 2/2 2. Business Outlook While the Company is gradually regaining its market share back post shutdown from February 2019 to April 2019, the current slowdown continues to pose challenges

Realty and Industry Public Company Limited would like to explain the operating result for the year ended December 31, 2017 compare with previous year as follows: For the year ended December 31, 2017 The

of continuous industry of steel shows a downtrend compared with the same period last year Source : ISIT & OIE 3. Group CEOs Message Management’s Discussion and Analysis (MD&A) For Q2/2017 GSteel 4 As a

resultant growth in EPS. Last 12 months has seen steady to stronger integrated industry margins compared to previous period and IVL is a testimony of an announced plan of pursuing earnings-accretive growth in

was thus reduced to 29% in 2019 as compared to 37% in 2018. To regain the market share and reduce imports, the Company had to resort to very competitive pricing which impacted the EBITDA adversely

equity amounted to THB 14,143 million increased by THB 925 million or 7% higher from year ended 2018 mainly due to: 1. From registered increased share capital and received cash (net of discounted on

and trust in supporting the Company’s business. 3. Management’s Message Management’s Discussion and Analysis (MD&A) for year 2017 4 Overview of World Steel Industry Chart of world crude steel production

World Steel Industry Chart of world crude steel production monthly, ending 31 December 2017 Source: World Steel Association According to the World Steel Association’s report on world crude steel

ordinary shares of the Company at an offering price of Baht 7 per share, to re-negotiate the conditions of investment in S- TREK shares with the Company, since such offering price of Baht 7 per share which