Orient Overseas (international) Limited · HKEX:316
Orient Overseas (international) — FY2012 Earnings Presentation
25 slides from Orient Overseas (international)'s earnings presentation, Mar 6, 2013
Slide 1: Orient Overseas (International) Ltd. 2012 Annual Results
Orient Overseas (International) Ltd. 2012 Annual Results March 6th 2013
Slide 2: OOIL Full Year Result 2012 Summary
OOIL Full Year Result 2012 Summary • Despite the very difficult operating environment, OOIL is pleased to report a profit attributable to equity holders of US$296.4 million compared to a profit of US$181.6 million in 2011 representing an increase of 63% • Earnings per ordinary share in 2012 were US4
Slide 3: Group Results – 2012 Vs 2011
Group Results – 2012 Vs 2011 US$M 2012 2011 Revenue 6,459 6,012 EBIT 343 184 Profit After Tax 297 182 EBIT Margin 5.3% 3.1% Earnings per Ordinary Share (US$ Cents) 47.3 29.0 3
Slide 4: Group Results – 2012 Vs 2011
Group Results – 2012 Vs 2011 US$M 2012 2011 Profit for the Year 297.3 182.4 Made up of: Write back of provision - 43.0 Profit from OOCL 197.2 86.0 OOIL Activity 100.1 53.4 4
Slide 5: Income Statement
Income Statement US$M 2012 2011 1st Half Profit 116.8 175.0 2nd Half Operating Profit / (Loss) 111.0 (38.3) Profit before Unusual / Non-Recurring Items 227.8 136.7 Exchange Gain 12.6 8.2 Beijing Oriental Plaza Dividend 43.7 12.1 Investment Portfolio 17.3 (4.2) Loss on Sale of Vessels (4.1) (13.4) Pr
Slide 6: Container Transportation (excl. Logistics)
Container Transportation (excl. Logistics) US$ / TEU 2012 2011 %▲ Liftings ('000) 5,217 5,033 3.7% Revenue (US$M) 5,899 5,529 6.7% Revenue Per TEU (US$) 1,131 1,099 2.9% Net Operating Capacity (TEU) 452,246 415,790 8.8% Load Factor (%) 73% 76% (3.0%) Feb 28, 2013 6
Slide 7: Dividends
Dividends US$000 2012 2011 Interim dividend 29,198 43,802 Final dividend 44,932 - Total 74,130 43,802 Dividends per ordinary share (US cents) - Interim 4.66 7.0 - Final 7.18 - Total 11.84 7.0 % of increase in dividends 69% N/A
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights US$M 2012 2011 Non-current Assets 5,500 4,894 Current Assets 2,765 2,839 Total Assets 8,265 7,733 Non-current Liabilities 2,398 2,311 Current Liabilities 1,352 1,164 Total Liabilities 3,750 3,475 Equity holders 4,509 4,251 Non-controlling Interests 6 7 Total Equity 4,515 4,2
Slide 9: Net Debt Position
Net Debt Position US$M 31 Dec 2012 31 Dec 2011 Liquid Assets* 2,086 2,230 Debt 2,882 2,672 Net Debt 796 442 * Excludes available for sale financial assets and held to maturity investments totaling $408m (2011: $313m) 9
Slide 10: Total Liquid Assets
Total Liquid Assets US$M 31 Dec 2012 31 Dec 2011 Restricted bank balances 19 12 Cash and bank balances 1,862 2,099 Portfolio investments, Equities and Bonds 205 119 Long Term Financial Assets 408 313 Total: 2,494 2,543 10
Slide 11: OOCL Static Slot Capacity Breakdown
OOCL Static Slot Capacity Breakdown % of # of Capacity Average As at 31 Dec 2012 Total Vessels (TEU) (TEU) Fleet Owned 43 265,242 6,168 59% Long Term Chartered 8 42,776 5,347 9% Operating Lease 1 4,402 4,402 1% Short Term Chartered 49 147,507 3,010 33% Swapping-in 5 37,883 7,577 8% Charter-Out (8) (
Slide 12: OOCL Fleet for Future Deliveries
OOCL Fleet for Future Deliveries Delivery schedule of vessels: 1. 2013 (8,888 TEU x 2) & (13,000 TEU x 8) 2. 2014 (8,888 TEU x 2) & (13,000 TEU x 2) 3. 2015 (8,888 TEU x 2) 8 x 8,888 TEU vessels were placed with Hudong – Zhonghua Shipbuilding (Group) Co. Ltd, PRC. 10 x 13,000 TEU vessels order was p
Slide 13: OOCL Operational Update*
OOCL Operational Update* *Note: Unaudited operational updates Updated 1-22-2013 13
Slide 14: OOCL Operational Update*
OOCL Operational Update* *Note: Unaudited operational updates Updated 1-22-2013 14
Slide 15: OOCL 5 Years’ Operational Statistics
OOCL 5 Years’ Operational Statistics US$ / TEU 2008 2009 2010 2011 2012 Capacity ('000 TEU) 6,243 5,646 5,898 6,623 7,124 Lifting ('000 TEU) 4,835 4,158 4,768 5,033 5,217 Revenue (US$'000) 5,933 3,843 5,615 5,529 5,899 Revenue per TEU (US$) 1,227 924 1,178 1,099 1,131 Bunker price per ton 519 353 45
Slide 16: All Trades Liftings and Revenue per TEU*
All Trades Liftings and Revenue per TEU* 2009 Total Lifting 2010 Total Lifting 2011 Total Lifting 2012 Total Lifting 2009 Total Revenue per TEU 2010 Total Revenue per TEU 2011 Total Revenue per TEU 2012 Total Revenue per TEU TEU ('000) Revenue per TEU 1,600 (US$) 1,400 1,400 1,300 1,200 1,200 1,000
Slide 17: Global Revenue & Lifting Distribution
Global Revenue & Lifting Distribution 2012 vs. 2011 Revenue (US$) 2012 Revenue (US$) 2011 Intra Asia / Intra Asia / Australasia Transpacific Australasia Market Market Market Transpacific 2012 Revenue 35% +10.0% 35% 34% Market +4.9% +6.7% 34% Trans Asia Europe Trans Atlantic Asia Europe Market Atlant
Slide 18: Operating Costs
Operating Costs 2012 2011 14% 14% 12% 11% 45% 47% 7% 6% 22% 22%
Slide 19: Bunker Cost
Bunker Cost US$M 2012 2011 %▲ Total Fuel Oil Consumption ('000 TON) 1,777 1,890 (6%) Average Fuel Oil Price (US$ per TON) 664 624 6% Total Fuel Oil costs (US$M) 1,180 1,179 0% Total Bunker Costs (US$M) 1,213 1,210 0% % of Total Operating Costs 22% 22% 0% Lifting („000 TEU) 5,217 5,033 4% 19
Slide 20: Fluctuating Bunker Price
Fluctuating Bunker Price 800 200 180 700 656 655 656 160 630 653 653 632 600 619 140 Crude Oil Price (US$ per barrel) Bunker Price (US$ per M Ton) 124 120 500 114 103 103 94 95 97 95 95 100 96 94 9094 92 90 90 88 89 400 85 79 78 80 74 74 76 75 65 60 66 60 300 57 57 42 40 200 Singapore Quarter Averag
Slide 21: State of the Industry - 2013
State of the Industry - 2013 • The immediate outlook for 2013 remains difficult. • We expect a protracted period of low economic growth • While US economic recovery are improving, prolonged deflation in Europe will result in reduced demand • Recent high employment level in US manufacturing sector su
Slide 22: State of the Industry - 2013
State of the Industry - 2013 • World capacity reached 16.5m teus in Feb 2013. • Lay up tonnage of 296 vessels at 862,000 teus representing 5.3% of the total with 72% owed by NOO as of Feb 25th 2013. • 201 units of container vessels scraped = 350,000 teus in 2012 • Accelerated obsolesce of non-fuel e
Slide 23: Next 5 Years
Next 5 Years • US demand should grow steadily and likely to accelerate in 2013. • Recovery in job and housing will mean more imports from Asia. • Europe still struggling and demand growth would be minimal • Largest ships to be deployed in Asia-Europe and Trans-Pacific trades. • Port infrastructure i
Slide 24: OOCL Focus
OOCL Focus The OOIL Group remains well capitalized, financially strong and operationally robust OOCL is well placed for the future with its Alliance memberships and its continued investment for growth
Slide 25: 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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