gain is attributed to the appreciation of the Thai Baht versus the US dollar. (Separate: Baht 376 million). Selling expenses Total selling expenses of the Company and subsidiary amounting to Baht 95

could generate the Cash Margin.) Net gain on foreign exchange rate Consolidated net gain on foreign exchange amounted to Baht 334 million which result from the appreciation of the Thai Baht versus the US

The Company recorded consolidated net gain on foreign exchange for the year 2018 amounting to Baht 197 million (Separate: Baht 83 million). The gain is attributed to the appreciation of the Thai Baht

attributed to the appreciation of the Thai Baht versus the US dollar. (Separate: Baht 169 million). บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Quarter 1

mostly unrealized and incurred from the appreciation in the Baht currency in the quarter. Finance cost was Bt1,194mn decreasing 7.5% YoY and 1.9% QoQ following lower interest-bearing debt. Average cost of

the appreciation of the Thai Baht versus the US dollar. (Separate: Baht 325 million). Gain from compromise debt Consolidated gain from compromise debt amounted to Baht 40 million which resulted from the

external factors, such as the overall domestic economic condition causing diminishing confidence and lower purchasing power, international trade war, and the appreciation of Thai Baht. The Company focused

adoption of TFRS 16; despite higher Other Income of Baht 207.0 million mostly from the recongisation of FX gain on USD loan to related parties at WUPIN due to USD appreciation. Normalized Net Income

result of (i) the THB appreciation against EUR (THB appreciated from 35.90 THB/EUR in 1Q 2019 to 34.49 THB/EUR in 1Q 2020) since the majority of the Company’s hotels earns their revenue in Euro and (ii

) increased 68 keys under AHS management contracts. The Average Daily Rate (ADR) decreased by THB 523 per night as a result of (i) the THB appreciation against EUR (THB appreciated from 35.70 THB/EUR in 2Q 2019