Margin (Bht/Ton) 897 834 Unit : million Baht 30-Jun-18 31-Dec-17 Total Assets 31,971 32,172 Total Liabilities 20,418 19,781 Total Equity 11,553 12,391 Gr ou p HR C Gr ou p บริษัท จี สตีล จ ำกัด (มหำชน) G

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

raise Advice brand awareness in various provinces across Thailand. Apart from marketing expenses, employee expenses also decreased by THB 16.00 million, caused by the company's decision to reduce accrued

extraordinary item from the sale of unused land of Baht 46.31 million and the provision for employee retirement benefits from 300 to 400 days of Baht 18.87 million had not been included, the net profit of the

Year 2017 Page 2 of 15 2015 2016 2017 MB % MB % MB % Employee benefit obligations 338.88 2.26 365.94 2.26 384.97 2.22 Advance Received for Rental Income from Associate 107.29 0.72 99.43 0.62 91.58 0.53

debt to equity ratio was 0.42 time and the consolidated net debt to equity ratio was considerably low at 0.27 time. Financial Highlights 1Q 2018 1Q 2017 Change THB million % Sales THB million % Sales THB

, as at March 31, 2019, the consolidated debt to equity ratio was 0.43 time and the consolidated net debt to equity ratio was considerably low at 0.26 time. Overall Financial Performance and

Group, as at June 30, 2019, the consolidated debt to equity ratio was 0.42 time and the consolidated net debt to equity ratio was considerably low at 0.26 time. Overall Financial Performance and

at June 30, 2018, the consolidated debt to equity ratio was 0.45 time and the consolidated net debt to equity ratio was considerably low at 0.30 time. Financial Highlights 2Q 2018 2Q 2017 Change 6M

. 61% down from 3Q2017. For capital structure of the Group, as at September 30, 2018, the consolidated debt to equity ratio was 0. 43 time and the consolidated net debt to equity ratio was considerably