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

due to the declining in raw water sales volume and net profit attributable to Equity holders of the parent company was 1,117.52 million Baht, decreased by 103.66 million Baht or 8.49%. Income statement

) as a result of in Q3/2016 such income was recorded for interest received from damaged pipeline at Phayathai Skytrain Station at Bt4.3 million. Then the Group had a Net profit attributable to Equity

Liabilities 19,179 20,532 Total Equity (433) 172 Minority 10,937 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 2 Ending 30

, decreased by 4.79 million Baht or -0.77% compared to Q1/2019, as construction revenue under concession agreements were reduced. Net profit attributable to equity holders of the parent company of 314.48

of previous year Moreover, external factors, including economic recession, inflation rates, increasing household debt, and rising interest rates led to a higher cost of living, which increased prices

price in Q3/ 2018, on average decreased by 1. 38 $/BBL when compared to Q2/2018 due to high pressure from increasing demand for Dubai crude during the Summer season in the Middle East, combined with a

Period (Day) 58 58 66 CASH CYCLE (Day) 9 14 18 PROFITABILITY RATIO Gross Profit Margin (%) 8.57 7.82 10.37 Net Profit Margin (%) 4.61 3.56 5.94 Return on Equity (%) 6.03 5.01 8.05 EFFICIENCY RATIO Return

. However, EBITDA declined by 5.8% yoy to THB 135 million due to higher administrative expenses and higher share of net losses from investments by the equity method. The Company reported net loss of THB 55

(6.30) 5.69 (11.99) (210.72%) Profit Sharing for the Year - The Company’s Equity (6.33) 5.30 (11.63) (219.43%) - Non-controlling Interest 0.23 0.39 (0.16) (41.03%) Total Revenues (Revenues from sales and