Service Income 178.2 100.0% 163.7 91.9% -14.5 -8.1% Total Revenues 178.2 100.0% 178.2 100.0% 0 0.0% Cost of Rental and Service 140.4 78.8% 139.4 78.2% -1 -0.7% Gross Profit 37.8 21.2% 29.7 16.7% -8.1 -21.5

Microsoft Word - MDA_1Q18_DTC_ Eng V2.9 Dusit Thani PCL Management Discussion and Analysis For 1Q18 P a g e | 1 Executive Summary The company reported net profit of THB 230 million in 1Q18 driven

% 2.2% EBITDA (MB) 27.8 14.9 86.3% EBITDA (%) 14.6% 6.2% Earnings per share (Baht) 0.03 0.01 200.0% Remark : EBITDA = Profit before finance costs, income tax, Depreciation and Amortization Statement of

business acquisition 2.2 - - - N.A.(

subsidiaries completed the dissolution of SBT and then realized foreign currency differences on dissolution of SBT amounting to 89 MB from other comprehensive income to the profit for the year. * Note Please

from the previous quarter of 4Q17. When comparing yoy, the net income for 1Q18 declined slightly by 0.7% comparing to net profit for 1Q17 of Baht 1,524 million. The consolidated comprehensive income for

1,305 million from the previous quarter of 4Q17. When comparing yoy, the net income for 1Q18 declined slightly by 0.7% comparing to net profit for 1Q17 of Baht 1,524 million. The consolidated

(43.6) (49.6) (49.5) (51.8) 2.3 4.6% (132.1) (194.5) 62.4 47.2% Profit before income tax 287.0 342.5 345.7 157.8 (187.9) (54.4%) 1,374.2 1,133.0 (241.2) (17.6%) Tax income (expenses) (12.1) (26.8) (29.0

. 05, comparing to a net profit of THB 127. 61 million or earnings per share of THB 0. 12 from the same period of last year, a decrease of THB 187. 35 million or -146. 82% when comparing with the first

-76.5% Administrative expenses - 8.4 - 7.2 -16.9% Finance costs - 4.9 - 3.0 -64.3% Profit for the period 40.9 2.4 1619.5% Net Profit 14.6% 1.3% EBITDA (MB) 62.6 9.0 597.5% EBITDA (%) 22.3% 5.1% Earnings