of Baht 21,643 million, increased by Baht 7,406 million or 52.0% from the total assets as of 31 December 2019. • Current Assets were decreased by Baht 881 million as a result of a decrease in Cash and

20 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Management Discussion and Analysis of Business Operation for Q2/2019

accounting, recognition of any resultant gain or loss depends on the nature of the item being hedged. In case of Cash Flow hedges, only the effective portion of changes in the fair value of the derivative

depends on the nature of the item being hedged. In case of Cash Flow Hedges, only the effective portion of changes in the fair value of the derivative financial instrument is recognized in other

Page 12 and joint ventures decreased equity in the amount of THB 535.72 million, and the cash flow hedge reserve decreased equity in the amount of THB 230.77 million. However, currency translation

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40 percent increased in the amount of Baht 453.78 million; as well as, the profit of Phu Fai Mining Company Limited, a joint venture for coal mining and trading to HPC, in a portion of 37.5 percent

December 2018, mostly from a decrease in investments in joint ventures and an impact of currency translation due to THB appreciation • Net debt to equity ratio as of 31 March 2019 was 0.51 times, an

Selling Price (THB./ton) 20,702 17,403 HRC Cash Margin (THB./Ton) 891 1,033 Unit: million Baht 30 June 2018 31 December 2017 Fin an cia l St at us Total Liabilities 5,774 5,492 Total Asset 19,743 19,546

Financial Position Unit: THB million Statement of Financial Position Q1/2018 2017 2016 2015 Cash 263.23 195.47 312.5 149.29 A/R Net 260.9 345.22 276.17 403.63 Inventories - - 1.46 2.89 Current assets 656.59