Orient Overseas (international) Limited · HKEX:316
Orient Overseas (international) — FY2020 Earnings Presentation
29 slides from Orient Overseas (international)'s earnings presentation, March 2021
Slide 1: Orient Overseas (International) Limited 2020 Annual Results
Orient Overseas (International) Limited 東方海外(國際)有限公司 2020 Annual Results 二零二零年全年業績
Slide 2: Disclaimer
DISCLAIMER 免責聲明 The information provided is for reference only and includes data obtained from sources provided by the 提供的信息僅供參考，包括從相關信息提供商提供的來源中獲得的數據，如有更改，恕 relevant information provider(s) and is subject to change without notice. Orient Overseas 不另行通知。東方海外（國際）有限公司（“東方海外”）及其關聯公司以及相關的信 (Internationa
Slide 3: Highlights
HIGHLIGHTS 摘要 FINANCIAL BALANCE SHEET Group Revenue Core Business EBIT Core Business EBIT Operating Cash Flow Liquid Assets Net Debt / (Cash) to Total Debt 集團收益 核心業務息稅前溢利 Margin 營運現金流量 速動資產 Equity Ratio 總負債 (US$ B) (US$ M) 核心業務息稅前溢利率 (US$ M) (US$ B) 淨負債/(現金) (US$ B) (%) 3.3 與股東權益比率 9 1,500 1,005 12.
Slide 4: Dividend
DIVIDEND 股息 • Excellent return to investors in 2021 2021年為投資者帶來豐厚回報 • Proposed Final Dividend of US 50.26 cents per 建議派發末期股息每股50.26美仙 share • Proposed Special Dividend of US 86.6 cents per 建議派發特別股息每股86.6美仙 share • New Dividend Policy 新股息政策 • Previous target was 25% payout, exceeded in 近期已超出先前訂下的25％股
Slide 5: 2020 Q4 Operational Update
2020 Q4 OPERATIONAL UPDATE 二零二零年第四季度營運概要 Q4 2020 Q4 2019 Change FY 2020 FY 2019 Change 二零二零年第四季 二零一九年第四季 變動 二零二零年全年 二零一九年全年 變動 LIFTING (TEU’s) : 載貨量 （標準箱） : Trans-Pacific 太平洋航線 639,034 495,787 + 28.9% 2,166,452 1,966,819 + 10.2% Asia / Europe 亞洲／歐洲航線 429,144 365,072 + 17.6% 1,496,208 1,423,116 + 5.1
Slide 6: Group Results Breakdown
GROUP RESULTS BREAKDOWN 集團業績明細 (US$ M) 31 Dec 2020 31 Dec 2019 (百萬美元) 截至二零二零年十二月三十一日止年度 截至二零一九年十二月三十一日止年度 Container Transportation and Logistics – EBIT* 1,005.4 293.4 貨櫃運輸及物流 - 息稅前溢利 Container Transportation and Logistics – EBIT margin* 12.3% 4.3% 貨櫃運輸及物流 -息稅前溢利率 Property and Investments – EBIT (0.4
Slide 7: Operating Costs 2020
OPERATING COSTS 2020 二零二零年營運成本 Per TEU 2020 / 2019 Change 2020 Proportion 每個標準箱 二零二零年/ 佔二零二零年比例 二零一九年之變動 Total Cost 1% 100% 總成本 Cargo Costs 8% 53% 貨物處理成本 Equipment and Repositioning Costs -1% 13% 貨櫃成本及空箱回流費用 Vessel and Voyage Costs (Excluding Bunker Costs) 3% 22% 船舶及航程費用（除燃油成本外） Bunker Costs -21% 12
Slide 8: Group Balance Sheet Highlights
GROUP BALANCE SHEET HIGHLIGHTS 集團資產負債表摘要 (US$ M) 31 Dec 2020 31 Dec 2019 (百萬美元) 二零二零年十二月三十一日 二零一九年十二月三十一日 Non-Current Assets 6,651 6,756 非流動資產 Current Assets 3,994 4,446 流動資產 Total Assets 10,645 11,202 總資產 Non-Current Liabilities 2,997 3,504 非流動負債 Current Liabilities 2,006 2,771 流動負債 Total Liabiliti
Slide 9: Balance Sheet
BALANCE SHEET 資產負債表 OOIL Net Debt / (Cash) to Equity Now in a net cash 現在處於淨現金狀 0.42 0.43 0.41 0.32 position 況 0.12 0.25 0.28 0.23 0.06 One of the strongest 集團財務狀況繼續 -0.04 balance sheets in 處於業界前列位置 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 the industry Net Debt / (Cash) to equity Focus on b
Slide 10: Total Liquid Assets
TOTAL LIQUID ASSETS 總流動資產 (US$ M) 30 Dec 2020 31 Dec 2019 (百萬美元) 二零二零年十二月三十一日 二零一九年十二月三十一日 Cash and Bank Balances 3,075 2,515 現金及銀行結餘 Portfolio Investments, Equities and Bonds 248 344 債券及證券之組合投資 Total 3,323 2,859 合計 10
Slide 11: Net Debt / (Cash)
NET DEBT / (CASH) 淨負債/（現金） (US$ M) 31 Dec 2020 31 Dec 2019 (百萬美元) 二零二零年十二月三十一日 二零一九年十二月三十一日 Debt 3,070 3,991 負債 Liquid Assets 3,323 2,859 速動資產 Net Debt / (Cash) (253) 1,132 淨負債/(現金) 11
Slide 12: Container Transport (Excluding Logistics)
CONTAINER TRANSPORT (EXCLUDING LOGISTICS) 貨櫃運輸（不包括物流） 2020 2019 % favourable 二零二零年 二零一九年 unfavorable Liftings ('000 TEU) 7,462 6,954 7% 載貨量（千個標準箱） Freight Revenue (US$ M) 7,461 6,276 19% 運費收益（百萬美元） Freight Revenue Per TEU (US$) 1,000 902 11% 每個標準箱平均運費收益（美元） Load Factor (%) 85.6 82.8 2.8% pt 運載率（%） N
Slide 13: Impact of COVID-19
IMPACT OF COVID-19 新冠疫情的影響 Rebound into resilient demand 需求反彈後持續強韌 Huge pressure on available supply for most of 2020 2020年大部份時間的供應受到巨大壓力 Enormous shift in demand from H1 to H2 大量需求從上半年轉移到下半年 Terminal congestion 碼頭擁堵 Lockdowns / social distancing 封鎖措施 / 防疫舉措 Supply chain bottlenecks 供應鏈瓶頸 This all l
Slide 14: Shanghai Container Freight Index
US$ 美元 200 700 1,200 1,700 2,200 2,700 3,200 Jan-10 Mar-10 May-10 Jul-10 1364 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 1006 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12 Sep-12 1254 Nov-12 Jan-13 Mar-13 May-13 Jul-13 1078 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 1074 Sep-14 Nov-14 Jan-15 Mar-15 May-15
Slide 15: Freight Revenue per TEU (US$)
FREIGHT REVENUE PER TEU (US$) 每個標準箱運費收益（美元） 1300 1200 1100 1000 900 800 700 600 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Revenue per TEU
Slide 16: Industry Trade Volume 2020
INDUSTRY TRADE VOLUME 2020 二零二零年行業貿易額 Trade Route 2020 vs 2019 2019 vs 2018 2018 vs 2017 航線 Trans-Pacific EB 4.4% (1.9%) 7.8% 太平洋東行航線 Asia-Europe WB (5.1%) 2.6% 2.0% 亞洲／歐洲西行航線 Intra-Asia (0.3%) 2.4% 4.1% 亞洲區內航線 Trans-Atlantic WB (4.0%) 3.6% 4.5% 大西洋西行航線 Sources: Datamyne and CTS 16
Slide 17: Industry Trade Volume 2020
INDUSTRY TRADE VOLUME 2020 二零二零年行業貿易額 Trans-Pacific EB Asia / Europe WB Intra-Asia Trans-Atlantic WB 太平洋東行航線 亞洲／歐洲西行航線 亞洲區內航線 大西洋西行航線 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 JAN 一月 (0.3%) 6.4% 7.5% (4.1%) 9.7% 1.2% (5.8%) 2.6% 10.0% (7.6%) 17.1% 1.6% FEB 二月 (8.8%) (5.2%) 18.8% (3
Slide 18: Durability of the Current Situation
DURABILITY OF THE CURRENT SITUATION 現狀的持續性 Demand still seems to be very strong 需求似乎仍然強勁 Congestion easing in some locations, but worsening in 在某些地區擁堵有所緩解，但在其他地區加劇 others Pressure on box availability continues 集裝箱供應繼續面臨壓力 Some drops in spot rates on certain routes, still from 某些航線的現貨運費有所下調，但仍處於高水平 v
Slide 19: Industry Evolution
INDUSTRY EVOLUTION 行業的演變 Will we simply go back to pre-2020? 能回到2020年之前嗎？ Impact of COVID-19 新冠疫情的影響 Need to see how global supply chain evolves 從2020年的經歷了解全球供應鏈如何演變 after lessons of 2020 Need to see speed / extent of economic recovery 需要看經濟復甦的速度/程度 Container shipping industry has changed 集裝箱航運業已經改變
Slide 20: Orderbook-to-Fleet Ratio
ORDERBOOK-TO-FLEET RATIO 訂單對船隊比率 Source: Alphaliner Monthly Monitor (Mar 2021) 20
Slide 21: Gross New Building Deliveries
GROSS NEW BUILDING DELIVERIES 新造船交付總量 MILLION TEU 9.2% < 7,500 TEU ships 7,500 - 15,199 (NPX) TEU ships > 15,200 TEU ships 1.8 1.73 8.5% 1.6 1.47 6.2% 4.9% 1.4 5.9% 1.30 0.81 4.7% 1.22 1.19 4.8% 1.2 1.13 0.60 4.6% 1.06 3.7% 3.5% 1.0 0.94 0.59 0.88 0.86 0.54 0.43 0.66 0.8 0.55 0.22 0.48 0.40 0.6 0.55
Slide 22: Scrapping
SCRAPPING 報廢船舶 Source: Alphaliner (Mar 2021 Monthly Monitor) 22
Slide 23: Bunker Price
BUNKER PRICE 燃油價格 US$ 美元 Bunker Price Spread (Sing 380C ST (M) vs VLSFO) 800 700 600 500 400 300 200 100 - Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Sing
Slide 24: Bunker Price
US$ - 美元 500.00 1,500.00 2,000.00 2,500.00 3,000.00 3,500.00 1,000.00 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Sing 380c St (M) Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Sing VLSFO Oct-15 Jan-16 燃油價格 Apr-16 CCFI BUNKER PRI
Slide 25: Newbuilding Programme
NEWBUILDING PROGRAMME 新船計劃 Orders placed during 2020 for 12 x 23000 TEU vessels 訂購12艘23,000標準箱新船 Total cost of approx. US$1.9bn 總費用約19億美元 Delivery during 2023/2024 2023/2024年交付 Allowing OOCL to operate an entire loop on Asia OOCL能獨自營運一個完整的亞洲歐洲航線 Europe Part of refleeting 船隊整頓 Benefit of largest, mos
Slide 26: ESG
ESG 環境、社會及企業管治 ESG issues are high priority for the group 集團重視環境、社會及企業管治 IMO 2020 fully implemented in time for January 2020 國際海事組織2020年新法規於2020年1月全面實施 Study of incoming IMO rules for Greenhouse Gases, 研究國際海事組織新溫室氣體規則(於2023 年實施) GHG, coming in 2023 In 2020, social concerns have been extremely 在2020年
Slide 27: Share Placement
SHARE PLACEMENT 股份配售 Raised approx. US$120m through issuing new shares 2021年1月通過發行新股籌集1.2億美元 in January 2021 Successful transaction, with a wide range of investors 成功發行新股，投資者來自世界各地 from around the world Since acquisition by COSCO SHIPPING Holdings, it has 在適當情況許可下增加股票流通量是中遠海運集團 always been a priorit
Slide 28: Conclusion
CONCLUSION 總結 Outstanding performance in a challenging context 在充滿挑戰的環境下表現出色 Usual role more important than ever 角色比以往任何時候都重要 Flow of vital goods (PPE, food, …) 重要貨物的流動（防護裝備、食物、 …） Supported world trade and economic activity 支撐世界貿易和經濟活動 Prepared solid plans for future development 準備未來發展的計劃 Measured,
Slide 29: Thank you
Diolch Multumesc Paldies! Faleminderit
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