Cosco Shipping Ports Limited · HKEX:1199
Cosco Shipping Ports — Q1 2018 Earnings Presentation
14 slides from Cosco Shipping Ports's earnings presentation, Apr 26, 2018
Slide 1: 1Q2018 Results
1Q2018 Results Strong organic growth reaffirms our growth strategies 26 April 2018
Slide 2: 1Q2018 Highlights - strong organic growth
2 1Q2018 Highlights - strong organic growth • Total throughput + 37.7% yoy to 27.2 million TEU • Equity throughput + 32.5% yoy to 8.6 million TEU • Total throughput of subsidiaries + 38.5% yoy to 5.2 million TEU • Revenue + 86.1% yoy to US$238 million • Excluding Noatum and Zeebrugge, achieved organ
Slide 3: Financial Review
Financial Review cosco SRane pu ARAS) SS COSCO SHIPPING Por Limos The Port ForALL
Slide 4: Financial Highlight – enhancing profitability
4 Financial Highlight – enhancing profitability US$ million Reported Like-for-like (organic) * 1Q2018 1Q2017 yoy 1Q2018 1Q2017 yoy Total revenue 237.9 127.8 +86.1% 165.4 127.8 +29.4% Costs of sales 164.0 85.0 +92.9% 102.1 85.0 +20.1% Gross profit 73.9 42.8 +72.6% 63.3 42.8 +47.8% GP margin 31.1% 33.
Slide 5: Strengthening balance sheet
5 Strengthening balance sheet US$ million 1Q2018 1Q2017 yoy Total assets 9,238.5 6,854.7 +34.8% Total liabilities 3,137.6 1,936.3 +62.0% Total equity 6,100.9 4,918.4 +24.0% Total debt 2,359.2 1,432.0 +64.7% Cash on hand 559.6 717.3 -22.0% Net debt 1,799.6 714.7 +151.8% Shareholder equity 5,400.6 4,4
Slide 6: Strengthening value of subsidiaries
6 Strengthening value of subsidiaries Total Assets Breakdown % NAV Breakdown % 6.9 17.1 13.8 20.9 20.3 18.5 30.8 25.7 23.1 46.6 29.6 48.5 41.3 32.8 24.4 -0.3 1Q2018 1Q2017 1Q18 1Q17 Others JVs Associates Subsidaries Others JVs Associates subsidaries
Slide 7: Operations Review
Operations Review cosco SRane pu ARAS) SS COSCO SHIPPING Por Limos The Port ForALL
Slide 8: Net profit analysis
8 Net profit analysis US$ million 1Q2018 1Q2017 yoy Terminal profit 82.6 48.1 +71.7% Terminal Profit breakdown Net profit 69.2 37.6 +84.3% 14.6 0.4 Top 10 profit contributors 17.6 1Q2018 1Q2017 7.7 10.0 QPI ---- Yantian 18.9% 0.3 14.7 US$82.6 mn Yantian 13.4% Shanghai Pudong 10.8% 17.0 Xiamen Ocean
Slide 9: Terminal profit by regions
9 Terminal profit by regions 30 27.6 25 1Q2017 US$ million 1Q2018 YoY of total 1Q2018 Bohai Rim 27.6 +570.6 % 33.4% 20 17.0 17.6 Pearl River Delta 17.6 +3.3% 21.3% US$ million 14.814.7 14.6 15 Yangtze River Delta 14.7 -0.4% 17.8% 10.0 Southeast Coast & others 7.7 +312.4% 9.3% 10 7.7 4.1 S.W Coast 0.
Slide 10: Terminal profit – accelerating growth pace
10 Terminal profit – accelerating growth pace US’million US’million 25 1Q2017 70 1Q2017 63 1Q2018 1Q2018 20* 60 +73.9% 20 +73.0% 50 15 40 36 12 30 10 20 5 10 0 0 Subsidiaries Non-subsidiaries *Excluding Nantong, Wuhan Yanglou and AD Ports
Slide 11: Continuous growth in equity throughput
11 Continuous growth in equity throughput 3 1Q2017 3 1Q2018 TEU million 1Q2018 YoY of total 2.5 Bohai Rim 2.0 +94.4% 23.4% TEU million 2 2.0 Pearl River Delta 1.9 +4.5% 21.6% 1.8 1.9 2 1.7 Yangtze River Delta 1.3 -0.5% 15.4% 1.3 1.3 1 S.E Coast & others 0.8 +35.2% 9.2% 1.0 0.8 S.W Coast 0.1 +0.2% 1.
Slide 12: Equity throughput - subsidiaries outperformed
12 Equity throughput - subsidiaries outperformed ‘000 TEU 6,000 +29.2% 5,308 5,000 +38.1% 4,107 4,000 3,314 3,000 2,400 2,000 1,000 0 Subsidiaries Non-subsidiaries 1Q2017 1Q2018
Slide 13: Continuous to enhance synergies
13 Continuous to enhance synergies • Ocean Alliance continued to increase calls at our terminals; contributions by Ocean Alliance accounted for about 47% of total subsidiaries’ throughput in 1Q2018 Contributions from Ocean Alliance as % of total throughput 1Q2018 1Q2017 * PCT 67% 51% Xiamen 90% 27%
Slide 14: Disclaimer
Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports”) and certain plans and prospects of the management of COSCO SHIPPING Ports. Such forward-lookin