of 2019. In addition, there was a straight line concession adjustment of its international media operation in accordance to the Thai accounting standard, which led to higher expenses. FINANCIAL

liabilities, Deferred tax adjustment and expenses relating to employee benefits 3 Adjusted EBITDA is calculated from EBT plus Finance cost, Depreciation and Amortization, Interest income from Loan to JVs and

our growing headcounts and upward adjustment of based compensations in accordance with our human resource policy. This was also resulted from the change in product mix due to the launch of new products

and the employees’ remuneration packages which increased as a result of our growing headcounts and upward adjustment of based compensations in accordance with our human resource policy. This was also

result of our growing headcounts and upward adjustment of based compensations in accordance with our human resource policy. This was also resulted from the change in product mix due to the launch of new

%) Finance costs 535 497 7% Dividend income (0) - 100% Unrealized loss (gain) on exchange rate 238 (594) 349% (Gain) loss on adjustment in value of securities 2 (4) 301% Bad and doubtful debts expense

resulting from the new adjustment item in year 2018). บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Yearly Ending 31 December 2018 G Steel Public Company

purposes. In 2Q2019, there were Foreign Exchange Gain of Baht 162.3 million. Whereby, in 2Q2018 there were Foreign Exchange loss of Baht -315.3 million and Accouting Adjustment (TFRS 15) of Baht 137.9

standards is recognised as an adjustment to the retained earnings as at 1 January 2020, and the comparative information was not restated. The impact of the adoption on the consolidated statement of 4,284

Statement of Comprehensive Income Note: (1) Excluded unrealized gain from foreign exchange rate on convertible bond, gain from fair value adjustment on investment properties, reverse effective interest rate