Total Equity (273) 172 Minority 9,570 9,928 Gr ou p HR C Gr ou p บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Quarter 1 Ending 31 March 2019 G Steel

Price (Bht./Ton) 18,529 16,348 HRC Cash Margin (Bht./Ton) 1,848 2,427 Unit: million Baht 2017 2016 Gr ou p Total Assets 32,437 32,615 Total Liabilities 20,059 21,747 Total Equity 1,364 10,868 Average

1,336 HRC Average Selling Price (Bht./Ton) 18,529 16,348 HRC Cash Margin (Bht./Ton) 1,848 2,427 Unit: million Baht 2017 2016 Gr ou p Total Assets 32,172 32,615 Total Liabilities 19,781 21,747 Total Equity

of ICUK aligning to the spending control scheme in order to achieve an acceptable return on sales, and a reduction in sponsorship fees to an international football club in parallel to the status and

) 883 1,848 Unit : million Baht 31-Dec-18 31-Dec-17 Total Assets 30,632 32,172 Total Liabilities 20,532 19,781 Total Equity 10,101 12,391 Gr ou p HR C Gr ou p บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public

+166% Share of profit (loss) from investments in JV (3) (4) +21% (14) (11) -26% Tax expenses (income) (34) 20 -277% (57) 61 -194% Profit (loss) attributable to equity holders of the parent (124) 78 -260

posted directly to operating margin through share of profit from joint ventures accounted for using equity method. All-in- all, there is no dilutive at operating margin to OSP beverage portfolio. - Q2’20

statements Financial Statement, in which the equity method is applied Separate Financial Statement Changes (separate financial statement) (Unit: Million Baht) 31-Dec-18 31-Dec-17 31-Dec-18 31-Dec-17 (Million

and listed securities. While in 2018 the Company recorded a significant amount of unrealized loss from mark-to-market price of investment in listed equity securities, coupled with the loss on sale of

(7.83) (45.50) Income tax 0.34 0.15 0.33 0.14 0.19 135.71 Profit for the year 12.72 19.04 9.71 17.35 (7.64) (44.03) Profit attributable to: Equity holders of the parent 12.66 Non-controlling interests