- (4.9) (6.8) 38.8% N.A. (1.4) 5.1 N.A. Other income 2.9 4.7 4.9 4.3% 69.0% 22.0 18.2 (17.3%) Profit before expenses 502.1 414.5 269.4 (35.0%) (46.3%) 1,452.9 1,153.6 (20.6%) Administrative expenses (106.9

(MB) 83.9 209.3 -59.9% EBITDA (%) 9.6% 23.0% Earnings per share (Baht) 0.08 0.28 Remark : EBITDA = Profit before finance costs, income tax, Depreciation and Amortization Statement of Income : Million

% Net Profit 1.3% 6.7% EBITDA (MB) 9.0 20.8 -56.9% EBITDA (%) 5.1% 11.7% Earnings per share (Baht) - 0.02 -100.0% Remark : EBITDA = Profit before finance costs, income tax, Depreciation and Amortization

business acquisition 2.2 - - - N.A.(

(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

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

% 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

Retained earnings 2,870,524 2,682,432 2,363,541 (Unit: Singapore Dollar) Income Statement 2018 2017 2016 Freight revenue 22,118,455 21,101,376 18,303,217 Other income 258,887 61,456 253,280 Total revenue

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

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