hired on 2017 until 30 September 2019. As at 30 September 2019, the Group has backlog for construction service total of Baht 1,868.31 Million. Since 2018, the Group has been hired construction projects by

100% 0% 2,491 1,823 -27% Income tax expenses 241 152 286 88% 19% 496 439 -12% Net profit for the period 942 530 966 82% 3% 1,929 1,497 -22% Earning Per Share (Baht per share) 3.77 2.12 3.87 82% 3% 7.72

% 524 472 -10% Net profit for the period 904 33% 1,828 2,018 10% 2,322 2,037 -12% Earnings Per Share (Baht per share) 3.61 33% 7.31 8.07 10% 9.29 8.15 -12% 3 Sales and Revenues Structure for the first

19% 3,997 3,838 -4% Income tax expenses 286 35% 768 815 6% 731 728 -0.4% Net profit for the period 1,104 35% 2,643 3,122 18% 3,266 3,109 -5% Earnings Per Share (Baht per share) 4.42 35% 10.57 12.49 18

3,903 3,681 222 6.0% Sales and service income 3,628 3,588 40 1.1% Other income 127 92 35 38.0% Gain on disposal of investment 147 - 147 100% Cost of sales and services 3,400 3,351 49 1.5% SG&A expenses

per share. Net loss increased by 123.6% yoy. The 1st half year of 2017, the Company has total revenue in the amount of THB 2,593.7 million, decreased by 8.5% yoy. Earnings before Interest, taxes and

) (9.55) (0.18) 1.97% (18.47) (18.40) 0.07 -0.39% Other expenses (1.10) (1.22) (0.12) 11.07% (2.25) (2.16) 0.09 -4.14% Profit from operations 1.22 11.62 10.41 855.44% 3.84 24.40 20.56 535.88% Share of loss

Company Limited Management Discussion and Analysis Yearly Ending 31 December 2018 G Steel Public Company Limited Page 2/15 Consolidated cost of goods sold and cost of service for the year 2018 amounted to

% Total Revenue & Share of Profit from Utilities Business 1,833.6 1,705.1 7.5% 1 Other Utilities Revenue consists of Excessive Charge, Service Fees for Wastewater Management 4 Utilities Business i) The

Business (13.5) 0.0 -100.0% Total Revenue & Share of Profit from Utilities Business 1,833.6 1,705.1 7.5% 1 Other Utilities Revenue consists of Excessive Charge, Service Fees for Wastewater Management 4