cost of sales, compared to that of the previous year of 78%. This was attributed to the slight change in product mix by having more sales contribution from Automotive products that have comparatively

attributed to owners of the parent of THB 4,942 million, and the non- controlling interest of THB 1,194 million. Cash Flows As of 31 March 2019, the Company reported cash and cash equivalents of THB 1,321

in the first quarter of 2019 recorded an increase in net profit over-quarter and over-year. Compared to the same period of last year, the better performance was attributed to net profit from investment

in this quarter. FINANCIAL POSITION Total assets as of 31 March 2019 stood at THB 53,181mn, a decrease of 1.4% or THB 779mn from 31 December 2018. The decrease was primarily attributed to (i) a

gain is attributed to the appreciation of the Thai Baht versus the US dollar. (Separate: Baht 376 million). Selling expenses Total selling expenses of the Company and subsidiary amounting to Baht 95

The Company recorded consolidated net gain on foreign exchange for the year 2018 amounting to Baht 197 million (Separate: Baht 83 million). The gain is attributed to the appreciation of the Thai Baht

attributed to the appreciation of the Thai Baht versus the US dollar. (Separate: Baht 169 million). บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Quarter 1

offset by a decrease in deferred revenue of THB 48mn. Total equity was THB 3,052mn rose by THB 306mn or 11.1%. This was attributed to an increase in premium on shares of THB 308mn which was from the rights

fixed asset in Q3/2019 to increase raw material handling’s efficiency. Net gain on foreign exchange rate Consolidated net gain on foreign exchange amounted to Baht 434 million. The gain is attributed to

mainly from an increase in revenue from dessert café, which was attributed from expansion of 8 new stores from Q2/2018 and a rise in Same-Store-Sale-Growth (SSSG). Gross Profit and Gross Profit Margin