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NYT reported 2016 performance

Back22 Feb 2017

Namyong Terminal Plc. revealed its 2016 financial operation that the company had 1,381.49 million Baht service revenue, 29.62 million Baht or 2.19% increase from last year. The expansion was mainly from 23.13 million Baht growth in revenue from warehouse (almost 100% occupied) while the revenue from terminal operation increased by 6.49 million Baht. The A5’s 2016 throughput was recorded at 989,907 cars, comprising of export, import and transshipment in the amount of 920,941 cars, 26,369 cars, and 42,597 cars, respectively. The company, thus, had the total revenue of 1,426.46 million Baht in 2016.

The company reported net profit of 390.03 million Baht or 27.34 % net profit margin for the year. Three major reasons were contributed for the profit reduction.

First, the increase in cost of services : The company leased 2 new plots of land for its 1.5-million-car terminal capacity expansion and for warehouse business enhancement. Parts of the land have already completed construction and started depreciating, resulting in the increase in both rental and depreciation expenses.

Second, the increase in deferred tax : The company initially had loss carry forward under BoI phase 3 for its berth operation and did not utilize but recorded it as deferred tax assets. However, to comply with the recent supreme court judgment regarding the difference in tax calculation approach between revenue department and the other company, the company accordingly reverted the transaction and booked tax expense in the second quarter.

Third, the increase in loss sharing from investment in associate : The associate company had undergone the property tax assessment and born the one-time payment, causing its net profit reduction. This had impact on the consolidated financial statement of 11.13 million Baht.

Nevertheless, the company still 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 2016 and honorably gained trust from the regulated bodies which were witnessed by the following events;