addition, the dispatch volume from Houay-Ho as a result of the lower power generation. The company will also have to recognize the interest expense which increased by Baht 133 million from Q2/2019 as this

1 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 Unit: million Baht Year 2018 Year 2017 Pe rfo rm an ce Revenues 29,910 15,178 Sales Volume (k tons) 1,447 812

G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 (Revised) Unit: million Baht Year 2018 Year 2017 Pe rf or m an ce Revenues 29,910 15,178 Sales Volume (k tons) 1,447

6,299 Group EBITDA 1,223 2,635 Group Net Profit (Loss) 495 1,963 HRC Sales (k tons) 389 333 HRC Production Volume (k tons) 382 361 HRC Average Selling Price (Bht/Ton) 20,939 18,907 HRC Cash Margin (Bht

sales and services amounted to Baht 8,678 million, increased by Baht 863 million or 11% QoQ. Revenue increase came from sale volume increase but still had net loss because raw material cost increase

ich mainly result from the increase in sale volume compare to the year 2017. In term of cost, the Company and subsidiary’s cost of sale per ton increase compare to the previous year due to the increase

2017 Pe rfo rm an ce Revenues 8,666 3,292 Sales Volume (k tons) 418 182 EBITDA 27 213 Net Profit (Loss) (311) 65 HR C HRC Sales (k tons) 418 182 HRC Production Volume (k tons) 418 190 HRC Average Selling

recovery in EU economy and the start of mass production of this product, resulting in a continuous sales growth since last year. However, sales of Telecom Power System (TPS) products declined 13.3% from the

income decreased by 2.5%. The main reason was from lower sale volume approx. 5.0% due to the government’s request for cooperation from operators in industrial estates to reduce their water usage by 10.0

revenue from sales and services amounted to Baht 7,815 million, decreased by Baht 334 million or 4% QoQ. This result from the decrease in sale volume and selling price while increase in production cost both