ANALYSIS FOR Q3/2017 7 9. Key Financial Ratios Key Financial Ratios As of 30 Sep 2016 As of 30 Sep 2017 Liquidity Ratio Current ratio (time) 0.30 0.52 Quick ratio (time) 0.29 0.49 Cash flow ratio (time) 0.74

equipment (8) Net cash from (used in) investing activities (99) Table 6: Condensed Statement of Cash Flow Management’s Discussion and Analysis (MD&A) For Q3/2017 17 Unit : Million Baht Jan -Sep 2017 Cash

December 2016, total equity included with equity attributable to owners of the Company of THB 1,426mn and non-controlling interests of the subsidiaries of THB 67mn. CASH FLOW As of 31 December 2017, the

non-cash adjustment and other operating activities of THB 1,575 million; 2) Cash flow from investing activities of THB 2,464 million, which was spent to invest in bank deposit for THB 1,700 million, and

Dec 2017 Liquidity Ratio Current ratio (time) 0.46 0.60 Quick ratio (time) 0.44 0.56 Cash flow ratio (time) 0.71 0.91 Profitability Ratio(1) Gross profit / total sales and services revenue (%) 50.37

determined the purchase price of the shares considered from the value of the business through Discounted Cash Flow method. 7. Benefits Expected to be obtained by the Company from the Transaction At present

parties decrease (increase) (94,000) Purchase of property, plant and equipment (12,108) Net cash from (used in) investing activities (102,310) Table 6: Condensed Statement of Cash Flow Management’s

: Condensed Statement of Cash Flow Management’s Discussion and Analysis (MD&A) for year 2017 (Revised) 18 Unit : Million Baht Jan -Dec 2017 Cash flows from financing activities Receive short-term loan from

cash equivalents increased by THB 4,110 million driven by cash generated from operations (see cash flow analysis). IPO proceeds were partly invested in short and long term debt securities resulting in

received 3 Purchase of property, plant and equipment (84) Net cash from (used in) investing activities (81) Table 6: Condensed Statement of Cash Flow 18 G J Steel Public Limited Management’s Discussion and