NYT reported 2017 performance

Namyong Terminal Plc. maintains its development toward the world class terminal service operator via the professional management and the supreme security provider. Besides, the company put the good corporate governance as one of the most priorities as we believe that the good governance would not just benefit to the business operation, but also create value added and built confidence to the stake holders in long term. As a result, the company has seriously promoted the good corporate governance throughout 2017 and honorably gained trust from the regulated bodies which were witnessed by the following events;

• The company’s share was selected to be in the list of “Thailand Sustainability Investment (THSI)” in 2017 by the Stock Exchange of Thailand (SET) for the 2nd consecutive year.
• The company received 5 star CG score or “Excellent” level from Thai Institute of Directors (IOD) in 2017 for the 2nd consecutive year.
• The company achieved 100% score for the 2017 AGM arrangement from Thai Investors Association (TIA) for the 2nd consecutive year.

For the financial performance of 2017, the company reported its service revenues of Baht 1,373.25 million, decrease by Baht 8.24 million or -0.60% from the previous year. The drop was mainly from Baht 8.86 million decrease in warehouse services due to contract terminations with some customers; while the revenue from terminal services slightly increase by Baht 0.6 million. Total RoRo throughput for the year 2017 was 946,769 cars. The company, thus, had the total revenue of 1,422.28 million Baht in 2017.

The company reported net profit of Baht 388.69 million or 27.33% net profit margin for the current year, slightly lower than the previous year. The decrease of net profit was affected by both positive and negative factors as follows.

• Decrease in warehouse revenues as aforementioned, however other income increased from the deposit forfeits.
• Decrease in interest income which was in line with drop in market interest rates.
• Increase in costs of services mainly due to rise of rental fee to reflect market rental rate.
• Increase in selling and administrative expenses was from employee relating expenses.
• Decrease in loss sharing from investment in associate; in 2016, the associate company suffered from a one-time loss resulted from the property tax assessment.
• Decrease in income tax expenses; in 2016, the company reverted a deferred tax asset relating to loss carry forward from investment in promotional operations (BOI privilege).