Kawasaki Kisen Kaisha, Ltd. · TSE:9107
Kawasaki Kisen Kaisha — FY2008 Earnings Presentation
21 slides from Kawasaki Kisen Kaisha's earnings presentation, Apr 27, 2009
Slide 1: Financial Highlights: Brief Report for FY2008
Financial Highlights Brief Report for FY2008 27 April 2009 Kawasaki Kisen Kaisha, Ltd.
Slide 2: Agenda
Agenda A. Financial Highlights for FY2008 A-1 Financial Results A-2 Key Points A-3 Outline of Division-wise Results B. Prospects for FY2009 B-1 Prospects for Yearly FY2009 B-2 Business-wise Operating Revenues/Ordinary Income B-3 Key Points for Yearly FY2009 Prospects B-4 Division-wise Trends for Yea
Slide 3: A. Financial Highlights for FY2008
A. Financial Highlights for FY2008
Slide 4: A-1-1. Financial Results
A-1-1. Financial Results (Unit: billion yen) (Unit: billion yen) FY2008 FY2007 YoY Forecasts as of 3Q Results Released Consolidated YoY (%) Comparison YoY 1H Results 2H Results Yearly Yearly Comparison YoY (%) Operating Revenues 735.5 508.8 1,244.3 1,331.0 ▲ 86.7 -7% 1,280.0 ▲ 35.7 -3% Operating Inc
Slide 5: A-1-2. Financial Results (Business-wise)
A-1-2. Financial Results (Business-wise Operating Revenues/Ordinary Income) (Unit: billion yen) Business FY2008 FY2007 YoY Forecasts as of 3Q Results Released Segment Comparison YoY (%) YoY 1H Results 2H Results Yearly Yearly YoY (%) Comparison Container Operating Revenues 314.8 215.3 530.1 599.8 ▲
Slide 6: A-2. Key Points
A-2. Key Points <YoY Comparison> Revenues Decrease (▲86.7 billion yen), Profit Decrease (▲65.9 billion yen) Factors of Revenue Decrease: • Freight Rate/Chartering Market Deteriorated Factors of Profit Decrease: • Yen Appreciation (14.5 yen/US$) ('07F Results 125.9 / '08F Prev. Prospects 67.0 => '08F
Slide 7: A-3-1. Division-wise Results - Container Business
A-3-1. Outline of Division-wise Results - for Container Business - Operating Revenues: 530.1 billion yen , Ordinary Income: ▲ 37.3 billion yen <Y o Y Comparison> Revenues Decrease (▲ 69.7 billion yen ）, Income Decrease ▲42.0 billion yen) <Comparison with Prev. Prospects as of Jan.’09> Revenues Decre
Slide 8: A-3-2. Division-wise Results - Dry Bulk Business
A-3-2. Outline of Division-wise Results - for Dry Bulk Business - <Y o Y Comparison and Comparison with Prev. Prospects as of Jan.’09> Revenues Decrease, Income Decrease Operating Tonnage: 210.5 mil. Ton , + 4.0% (Y o Y) Negative Factors (YoY): • Market for large-size : Fell sharply in Sept. Tempora
Slide 9: A-3-3. Division-wise Results - Car Carrier Business
A-3-3. Outline of Division-wise Results - for Car Carrier Business - <Y o Y Comparison and Comparison with Prev. Prospects as of Jan.’09> Revenues Decrease , Income Decrease Negative Factors (YoY) : • Total units carried (inc. intra-Europe) : 3,069 thousand units (▲9.3 %(Y o Y)) • Loaded volume decr
Slide 10: A-3-4. Division-wise Results - Energy Transportation
A-3-4. Outline of Division-wise Results - for Energy Transportation - <Y o Y Comparison> Revenues Increase, Profits Increase LNG Carrier : 14 ships for the projects we got engaged delivered in FY2008. Stable operation of 47 vessels in each existing project. Tanker : Operating tonnage expanded to 45,
Slide 11: A-3-5. Division-wise Results - Other Business
A-3-5. Outline of Division-wise Results - for Other Business - (Heavy Lifter) <YoY Comparison> Revenues & Income Increase - Positive trends for heavy cargo related to petrochemical plants and infrastructure building, due to hike of resource price => kept almost full employment, and secured firm prof
Slide 12: B. Prospects for FY2009
IN K'LINE B. Prospects for FY 2009
Slide 13: B-1. Prospects for Yearly FY2009
B-1. Prospects for Yearly FY2009 (Unit: billion yen) FY2009 Prospects FY2008 Results Consolidated 1H 2H YoY Yearly Yearly YoY (%) Prospects Prospects Comparison Operating Revenues 450.0 500.0 950.0 1,244.3 ▲ 294.3 -24% Operating Income ▲ 5.0 21.0 16.0 71.6 ▲ 55.6 -78% Ordinary Income ▲ 7.0 18.0 11.0
Slide 14: B-2. Business-wise Operating Revenues/Ordinary Income
B-2. Business-wise Operating Revenues/Ordinary Income (Unit: Billion Yen) FY2008 FY2009 Prospects Comparison Results Business Segment Balance Balance 1H 2H Yearly (a) Yearly (b) (a)-(b) (%) Container Operating Revenues 208.0 216.0 424.0 530.1 ▲ 106.1 -20% Business* Ordinary Profit/Loss ▲ 14.0 ▲ 8.0
Slide 15: B-3. Key Points for Yearly FY2009 Prospects
B-3. Key Points for Yearly FY2009 Prospects <Y o Y Comparison> Revenues Decrease (▲294.3 billion yen), Profits Decrease (▲49.0 billion yen) Premises : Fuel Oil Price $504 =>$300, Exchange Rate ¥100.82 => ¥100.00 （08F Results 60.0 bln yen ⇒ 09F Prospects 11.0 bln yen） Comparison with 08F Variation Fa
Slide 16: B-4-1. Division-wise Trends (Container Business)
B-4-1. Division-wise Trends for Yearly FY2009 Prospects (Container Business) <Container Business> Operating Revenues : 424.0 bln. yen , Ordinary Income: ▲22.0 bln. yen Y o Y Comparison : Revenues Decrease (▲106.1 bln. yen), Ordinary Income Loss Decrease (+15.3 bln. yen) - Total Loading Cargo Volume:
Slide 17: B-4-2. Division-wise Trends (Dry Bulk/Car Carrier)
B-4-2. Division-wise Trends for Yearly FY2009 Prospects (Dry Bulk Business/Car Carrier Business) <Dry Bulk Business> Y o Y Comparison: Revenues & Profit Fall Profit Decrease Factors: Market level down, Cargo volume decrease caused by economic slowdown and credit squeeze Dry Bulk Market FY2009 Curren
Slide 18: B-4-3. Division-wise Trends (Energy Transportation/Heavy Lifters)
B-4-3. Division-wise Trends for Yearly FY2009 Prospects (Energy Transportation/Heavy Lifters) <Energy Transportation> Y o Y Comparison: Revenues & Profit Fall Market for middle size tankers and product tankers have fallen since beginning of 2009. FY2009 Current FY2009 1H FY2009 2H FY2008 Tanker Mark
Slide 19: B-5. Financial Indices
B-5. Financial Indices 08F Yearly 08F Yearly 07F Yearly 08F Yearly 09F Yearly Prospects Prospects Results Results Prospects (original plan) (as of Jan. ‘09) Operating Revenues 1331.0 1244.3 1340.0 1280.0 950.0 Ordinary Income 125.9 60.0 121.0 67.0 11.0 Net Income 83.0 32.4 78.0 30.0 6.5 Operating C/
Slide 20: B-6-1. Emergency Countermeasures: Earning Improvement/Cost Reduction
B-6-1. Emergency Countermeasures against Economic Crisis Tackling of Earning Improvement/Cost Reduction (Billion Yen) Containership Bulker/PCTC etc. Total Earning Improvement 16.5 4.5 21.0 Rationalization of Ship Deployment (Decrease service loops, Review ship size/routing, etc.) 14.5 1.0 15.5 Revis
Slide 21: B-6-2. Emergency Countermeasures: Review of Fleet Upgrading Plan
B-6-2 Emergency Countermeasures against Economic Crisis Review of Fleet Upgrading Plan Our Fleet Scale Projection (No. of Vessels) Vessel Type 2008F 2009F 2010F 2011F Original Prospected idling/lay-up (2009F) Plan Deliv year- Deliv year- Deliv year- Deliv year- end end end ery fleet ery fleet ery fl