subsidiary recorded gross profit of 4,418 MTHB, improved by 2.8% from the year 2018 due to lower prices of raw materials this year and improvement of production reliability. However, such improvement was
utilization, ending 31 December 2017 Source: World Steel Association The main raw materials (Pig iron, shredded scrap) the price movement of the main raw materials, i.e. scraps and pig iron, had more fluctuated
of loss on confirmed purchase orders 0 for raw material 0 Reversal of bad and doubtful debts expense (147) Loss on impairment of assets 998 Loss on impairment of investments 0 Reversal of provisions
Company’s working capital is indirectly subsidized via trade creditor in form of loan and via business partners in form of raw material supported for production (under Collateral Management Agreement – CMA
* -58.0% Consol. Net Profit 255.1 159.0 268.6 +60.4% 559.7 -54.4% [ Remark * Excludes foreign exchange rate effects. ** Excludes foreign exchange rate effects and change in retirement benefit provisions
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utilization rate to available capacity, and eventually a higher cost of goods produced and low margin. To offset a slowdown in orders, the Company reduced costs by obtaining better sources of raw materials
-Quarter of 2017. Management’s Discussion and Analysis (MD&A) For Q3/2017 5 Chart of world steel production capacity utilization, ending 30 September 2017 Source: World Steel Association The main raw