power, as farm income continued to be constrained by low prices of agricultural products and nonfarm income remained lackluster. Moreover, high levels of household debt caused the generation of new loans

rfo rm an ce Revenues 15,178 11,669 Sales Volume (k tons) 812 722 EBITDA 1,062 1,189 Net Profit (Loss) 990 (7) HR C HRC Sales (k tons) 812 722 HRC Production Volume (k tons) 876 733 HRC Average Selling

Year 2017 Year 2016 Pe rfo rm an ce Revenues 15,178 11,669 Sales Volume (k tons) 812 722 EBITDA 1,062 1,189 Net Profit (Loss) 990 (7) HR C HRC Sales (k tons) 812 722 HRC Production Volume (k tons) 876

1 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 Unit: million Baht Year 2018 Year 2017 Pe rfo rm an ce Revenues 29,910 15,178 Sales Volume (k tons) 1,447 812

G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 (Revised) Unit: million Baht Year 2018 Year 2017 Pe rf or m an ce Revenues 29,910 15,178 Sales Volume (k tons) 1,447

of 5 and 7 years fixed coupon rate. This green and climate bond complies with high international standard which are the International Capital Markets Association's Green Bond Principles and the

UNDER CONSTRUCTION EXECUTIVE SUMMARY 1 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis Sales and service income, EBITDA, and NNP in 2017 hit record high; EBITDA margin enhanced

. Moreover, in the “Year of Shift”, the target customers of the Company were changed from middle to lower- middle income earners to upper-middle to high income earners. New projects targeting the new group of

price increased 9.26%, while volume sold decreased 3.94% from the same period of last year. However, the Company has expanded market to industrial sector and household sector in order to maintain overall

price which cause a sharply decreased in selling price since the end of March 2020. Moreover, volume sold decreased 32.19% from the same period of last year, mainly decreased in LPG sold to transportation