Orient Overseas (international) Limited · HKEX:316
Orient Overseas (international) — H1 2011 Earnings Presentation
19 slides from Orient Overseas (international)'s earnings presentation, Aug 8, 2011
Slide 1: 2011 Interim Results Announcement
ORIENT OVERSEAS (INT’L) LTD 2011 Interim Results Announcement Aug 8th 2011
Slide 2: Group Results Summary – 2011 1H
Group Results Summary – 2011 1H • OOIL Revenue Increased 7% to US$2.92 Billion • Profit Attributable to Equity holders US$175 Million • Earnings per Ordinary Share US 28.0 Cents • Interim Ordinary Dividend US 7.0 Cents Aug 8th, 2011 2
Slide 3: Group Results – 2011 1H
Group Results – 2011 1H US$M 1H11 1H10 %▲ Revenue 2,921 2,733 7% Core Operating Profit 183 310 (41%) Revaluation of Wall Street Plaza 5 - N/A Profit from continuing operations 175 287 (39%) Aug 8th, 2011 3
Slide 4: Group Results – 2011 1H
Group Results – 2011 1H US$M 1H11 1H10 %▲ Core EBIT 190 313 (39%) Core EBITDA 319 446 (28%) Profit for the period* 175 287 (39%) Core EBIT Margin (%) 6.5% 11.5% (5.0%) *Note: For comparative purposes, profit for the period of 1H10 Aug 8th, 2011 excludes the profit from the sale of OODL. 4
Slide 5: Container Transportation (excl. Logistics)
Container Transportation (excl. Logistics) US$ / TEU 1H11 1H10 %▲ Liftings ('000) 2,440 2,230 9.4% Revenue (US$M) 2,741 2,526 8.5% Revenue Per TEU (US$) 1,123 1,133 (0.9%) Net Operating Capacity (TEU) 425,153 377,351 12.7% Load Factor (%) 77% 83% (6%) Aug 8th, 2011 5
Slide 6: All Trades Liftings and Revenue per TEU
All Trades Liftings and Revenue per TEU* 2008 Total Lifting 2009 Total Lifting 2010 Total Lifting 2011 Total Lifting 2008 Total Revenue per TEU 2009 Total Revenue per TEU 2010 Total Revenue per TEU 2011 Total Revenue per TEU TEU ('000) Revenue per TEU (US$) 1,600 1,400 1,400 1,300 1,200 1,200 1,000
Slide 7: OOCL Average Revenue / TEU
OOCL Average Revenue / TEU* Revenue Per TEU (US$) 2,000 1,861 1,831 1,790 1,830 1,726 1,762 1,800 1,694 1,806 1,714 1,721 1,722 1,708 1,782 1,718 1,634 1,718 1,629 1,696 1,600 1,640 1,536 1,531 1,508 1,607 1,597 1,599 1,3971,467 1,396 1,472 1,507 1,355 1,304 1,400 1,289 1,420 1,273 1,264 1,416 1,207
Slide 8: Investment Property
Investment Property • Wall Street Plaza – Fair value gain of US$5 million for 1H 2011 – Valuation of US$160M as at 30 June 2011 – Performance is in line with expectations – Vacancy rate of 5% as at end of 30 June 2011 • Beijing Oriental Plaza – Successfully floated publicly in 1H 2011 via Real Estat
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights US$M 30 Jun 2011 31 Dec 2010 Non-current Assets 4,926 4,516 Current Assets 2,959 4,556 Total Assets 7,885 9,072 Non-current Liabilities 2,327 2,469 Current Liabilities 1,198 1,024 Total Liabilities 3,525 3,493 Equity holders 4,354 5,572 Non-controlling Interests 6 7 Total Eq
Slide 10: Total Liquid Assets
Total Liquid Assets US$M 30 Jun 2011 31 Dec 2010 Cash and bank balances 2,214 3,852 Portfolio investments, Equities and Bonds 283 275 Available Liquid Assets 2,497 4,127 Restricted bank balances 11 6 Total Liquid Assets 2,508 4,133 Aug 8th, 2011 10
Slide 11: Net Debt / (Cash) Position
Net Debt / (Cash) Position US$M 30 Jun 2011 31 Dec 2010 Total Liquid Assets 2,508 4,133 Debt 2,629 2,664 Net Debt / (Cash) 121 (1,469) Aug 8th, 2011 11
Slide 12: Debt-to-Equity Ratios
Debt-to-Equity Ratios Gross Debt to Equity Net Debt to Equity Ratio Ratio 2.0 2.0 1.5 1.5 1.0 1.0 0.67 0.60 0.53 0.54 0.48 0.5 0.5 0.26 Net Cash 0.07 Net Cash 0.03 0.0 0.0 2007 2008 2009 2010 2011 1H 2007 2008 2009 2010 2011 1H Aug 8th, 2011 12
Slide 13: Actual Capital Expenditure
Actual Capital Expenditure US$M 1H11 2010 Vessels under construction 358 202 Containers & Chassis 113 117 Other 17 26 Total 488 345 Aug 8th, 2011 13
Slide 14: Bunker Fuel Cost
Bunker Fuel Cost US$M 1H11 1H10 %▲ Total Consumption ('000 TON) 921 876 (5%) Average Price (US$) 593 463 (28%) Total Bunker Costs (US$M) 560 412 (36%) % of Total Operating Costs 22% 19% (3%) Aug 8th, 2011 14
Slide 15: Trading Conditions
Trading Conditions Aug 8th, 2011
Slide 16: 2011 Trading Conditions
2011 Trading Conditions • Capacity deployment issues in the industry are likely to continue in the near term, and the traditional peak season lift in demand may give only limited improvement, at best, in average freight rates over the remainder of the year. • While the economies of northern European
Slide 17: 2H 2011 Trading Conditions
2H 2011 Trading Conditions • With no relief from high oil prices and increased energy-related costs with the industry still to absorb further new capacity in the second half of the year, and given the uncertain economic outlook in the United States and Europe continued difficult trading conditions i
Slide 18: Thank You
Thank You For further inquiries, please contact Investor Relations Team: • Mr. Stanley Shen Phone: (852) 2833 3167 E-mail: stanley.shen@oocl.com • Mr. James Leung Phone: (852) 2833 3907 E-mail: james.leung@oocl.com
Slide 19: Disclaimer
Disclaimer The information provided is for reference only and includes data obtained from sources provided by the relevant information provider(s) and is subject to change without notice. Orient Overseas (International) Limited (“OOIL”) and its affiliates, and the concerned information provider(s),
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