) Management’s Discussion and Analysis | 2 Executive Summary In 2017, palm oil production in domestic and international market had improved since recovery from drought causing by El Nino effect in 2016. As palm

quarter last year. Meanwhile, imports of Hot Rolled Steel decreased by 14% and Domestic Production increased on 11.5% compared to same period last year. To regain the market share and reduce imports, the

% Finance cost 18.41 36.80 18.39 99.89% Income tax expenses 22.21 28.27 6.06 27.29% Net profit 80.50 95.26 14.76 18.34% Net profit ratio (ROS) 18.98% 20.67% Earnings per share (Baht) 0.13 0.16 0.03 23.08

Ratio (Times) N/A N/A N/A Cash Basis (Times) 1.48 1.48 1.11 Dividend paid (%) * - 99.90 99.90 Per-Share Data and Growth Rate of All Types of Business 2016 2015 2014 Per-share Data Book Value per share

New Products สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์ Printed on 01 April 2022 18:49 New Product Prospectus / Filing Sales Report Shelf Approval Outstanding Domestic Debt PP Approval Equity

New Products สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์ Printed on 01 April 2022 19:06 New Product Prospectus / Filing Sales Report Shelf Approval Outstanding Domestic Debt PP Approval Equity

8.59 Cost of sales and Services 1,647.83 1,572.51 4.79 Selling and Administrative Expenses 176.25 171.57 2.73 Share of profit (loss) from investments in (5.30) (3.53) 50.14 joint ventures Finance Cost

steel domestic consumption decrease which suffered from slow down economics. Other income 21.9 27.7 26.6% A gain and profit in exchange rate comparing to the same period of last year due to efficient

debentures, the increase of inventory from the finished goods for domestic sales and also the increase of investment in associates and joint venture from SAFE Energy Holdings Company Limited amounting to Baht

that the trend hot rolled steel import decreased and to have confidence in domestic market which will have a direction to improve in the future. In addition, the government stimulus measures may affect