Orient Overseas (international) Limited · HKEX:316
Orient Overseas (international) — H1 2009 Earnings Presentation
20 slides from Orient Overseas (international)'s earnings presentation, Aug 7, 2009
Slide 1: Interim Results Announcement
ORIENT OVERSEAS (INT’L) LTD 2009 Interim Results Announcement Aug 7th 2009
Slide 2: Interim Results 2009
Interim Results 2009
Slide 3: Group Results Summary – 1H2009
Group Results Summary – 1H2009 Results Financial 2009 Trading Conditions • OOIL Revenue Decrease 35% to US$2.07 billion • Core Operating Loss US$187 Million • Loss Attributable to Shareholders US$232 Million • Loss per Ordinary Share US 37 Cents • Proposed Dividend Nil 3
Slide 4: Group Results – 1H2009
Group Results – 1H2009 Results Financial 2009 Trading Conditions US$M 1H09 1H08 Revenue 2,067 3,204 Operating (Loss) / Profit From Core Operation (187) 228 Revaluation of Wall Street Plaza (15) (10) (Loss) / Profit Attributable to Shareholders (232) 158 4
Slide 5: Operating Profit By Division
Operating Profit By Division* Results Financial 2009 Trading Conditions US$M 300 216 1H2008 1H2009 200 100 6 6 15 0 (5) -100 -200 (197) -300 Container Transportation Property Development Other And Logistics And Investment *Note: Excluding WSP Revaluation 5
Slide 6: Container Transportation (excl. Logistics)
Container Transportation (excl. Logistics) Results Financial 2009 Trading Conditions US$ / TEU 1H09 1H08 %▲ Liftings ('000) 1,999 2,415 -17% Revenue (US$M) 1,824 2,903 -37% Revenue Per TEU 912 1,202 -24% 6
Slide 7: OOCL Liftings and Revenue per TEU
OOCL Liftings and Revenue per TEU Results Financial 2009 Trading Conditions 2008 Total Lifting 2009 Total Lifting 2008 Total Revenue per TEU 2009 Total Revenue per TEU TEU ('000) Revenue per TEU (US$) 1,400 1,300 1,200 1,200 1,000 1,100 800 1,000 600 900 400 800 200 700 0 600 Q1 Q2 Q3 Q4 7
Slide 8: Investment Property
Investment Property Results Financial 2009 Trading Conditions • Wall Street Plaza – Revalued down US$15M to US$160M – Occupancy rates increased to currently 94.1 % from 90% in Jan-09 • Doubletree by Hilton Hotel in Kunshan opened in January 2009 – Initial disappointing occupancy levels – Better oper
Slide 9: Financial Position
Financial Position
Slide 10: Balance Sheet Highlights
Balance Sheet Highlights Results Financial 2009 Trading Conditions US$M 30 Jun 2009 31 Dec 2008 Non-current Assets 4,352 4,451 Current Assets 2,847 3,250 Total Assets 7,199 7,701 Non-current Liabilities 2,202 2,260 Current Liabilities 846 1,020 Total Liabilities 3,048 3,280 Equity 4,117 4,387 Minori
Slide 11: Net Debt Position
Net Debt Position Results Financial 2009 Trading Conditions US$M 30 Jun 2009 31 Dec 2008 Liquid Assets 1,667 2,077 Debt 2,391 2,372 Net Debt 724 295 11
Slide 12: Debt-to-Equity Ratios
Debt-to-Equity Ratios Results Financial 2009 Trading Conditions Gross Debt to Equity Net Debt to Equity 2.0 2.0 1.5 1.5 1.0 0.80 1.0 0.76 0.53 0.54 0.58 0.5 0.5 0.30 0.20 0.07 0.18 Net Cash 0.0 0.0 2005 2006 2007 2008 1H2009 2005 2006 2007 2008 1H2009 12
Slide 13: Review of Financial Risks
Review of Financial Risks Results Financial 2009 Trading Conditions • Low financial leverage • High level of liquidity • Low capex commitments 13
Slide 14: Trading Conditions & Our Initiatives
Trading Conditions & Our Initiatives
Slide 15: 1H2009 Shipping Environment
1H2009 Shipping Environment Results Financial 2009 Trading Conditions • Extraordinarily difficult market conditions • Continued weakness in US and European economies • Global fleet capacity continues to increase • Global freight rates and demand have plummeted • Whole container market suffered treme
Slide 16: Initiatives OOIL have taken
Initiatives OOIL have taken Results Financial 2009 Trading Conditions • Effective Capacity Management – Redelivery of chartered-in vessels – Disposal of old container boxes – Rationalization of services – Operating capacity reduced by 14% for 1H2009 16
Slide 17: Cost Reduction and Saving
Cost Reduction and Saving Results Financial 2009 Trading Conditions Cost Reduction and Saving in Cost Items 1H09 Against 1H08 Cargo cost 8% Voyage cost 15% Off-hired chartered in vessels 10% Equipment and repositioning 16% Bunker Cost 35% Business and Administrative 3% 17
Slide 18: 2H2009 Shipping Environment
2H2009 Shipping Environment Results Financial 2009 Trading Conditions • There are signs that the worst may be over • But trading conditions remain very challenging • Rebound in global economy will be subdued and the period before recovery will be prolonged • Cost pressures continue on different fron
Slide 19: Property Development
Property Development Results Financial 2009 Trading Conditions • Primary focus on existing residential projects • Pre-sales of selected residential projects in Kunshan and Shanghai to be ready by early 2010 • Realign expected completion dates to the view of future market conditions • Material earnin
Slide 20: 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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