from 44.6% to 41.2% of revenue from sales, this effect to profit after tax for the three-month period decreased from Baht 62.6 million to Baht 45.29 million in the 4th quarter of 2018 or 27.6

the year 2018 and 2017 as follows:- Unit : Million Baht For the year 2018 2017 Net securities business income 1,335.88 1,491.77 Operating expenses (1,396.22) (1,381.42) Corporate income tax – income

expenses items and non-recurring. 5. Corporate income tax for the year 2018 are Baht 21.9 million, increase by Baht 21.1 million or 2,731% from prior year due to taxable profit from sales of ABOVE 39

treatment systems 34.69 81.63 (57.50) Selling expenses 58.75 43.36 35.49 Administrative expenses - WIIK 55.63 53.03 4.90 - WW 41.87 20.35 105.75 Finance cost 42.25 34.20 23.54 Profit before income tax income

recognised non-recurring items comprising of 1) COMASS’s acquisition related expenses of THB 2mn and 2) Net gain from deferred tax adjustment of THB 4mn. As a result, net profit from operation increased by

the Company, amounting 3 million Baht; 2.3 Deferred tax of the Company and its subsidiaries of 48 million Baht resulted in the record of the net profit for the second quarter of the year 2017 of the

Profit to Total Revenues Debt to Equity = Total Liabilities to Total Equity Return on Assets (ROA) = Profit before financial costs and income tax to average Total Assets Return on Equity (ROE) = Net Profit

Taksin 12/1, Taksin Road, Bukkalo, Thonburi, Bangkok 10600 Tel: (662) 473-7330-40 Tax: (662) 473-7329 บริษัท เอน็ซีแอล อินเตอร์เนชั่นแนล โลจสิตกิส์ จ ำกัด (มหำชน) NCL INTERNATIONAL LOGISTICS PUBLIC COMPANY

Equity Return on Assets (ROA) = Profit before financial costs and income tax to average Total Assets Return on Equity (ROE) = Net Profit to average Total Equity Yours faithfully, (Mr. Hiroaki Sano

An allowance for debts from the rehabilitation plan of the Company, amounting 3 million Baht; 2.3 Deferred tax of the Company and its subsidiaries of 40 million Baht resulted in the record of the net