Yang Ming Marine Transport Corp. · TWSE:2609
Yang Ming Marine Transport — 2023 Investor Conference
23 slides from Yang Ming Marine Transport's conference presentation, Mar 22, 2023
Slide 1: Yang Ming Marine Transport Corp. 2023 Investor Conference
Yang Ming Marine Transport Corp. 2023 Investor Conference 2023.3.22 1
Slide 2: Legal Disclaimer
Legal Disclaimer The information contained in this presentation, including all forward-looking information, is subject to change without notice, whether as a result of new information, further events or otherwise, and Yang Ming Marine Corp. (the “Company”) undertakes no obligation to publicly upda
Slide 3: Outline
Outline 1、 Container Shipping Overview 2、 Business Information 3、 Financial Results 4、 Operational Future Prospects 3
Slide 4: Container Shipping Overview
Container Shipping Overview 4
Slide 5: Economic Outlook
Economic Outlook IMF hikes global growth forecast to 2.9% in 2023, which is 0.2 percentage point higher than predicted in the October 2022. World Economic Outlook Projections % 8 7 6.8 6.8 6.1 6 5.2 5.2 5 4.7 4.5 4.3 4 3.5 3.4 3.1 3 3.1 2.9 3 2 2 1.8 1.6 1.5 1.4 1.4 1.2 1 0.9 1 0.7 0 World US Euro A
Slide 6: Supply and Demand
Supply and Demand Drewry, Alphaliner and Clarksons research forecast supply will exceed demand from 2023 to 2024. 2022(E) 2023(F) 2024(F) Supply 4.2% 3.5% (3.8%) 5.9% Demand 0.1% 1.2% (1.9%) 2.5% Supply 4.1% 8.2% (7.8%) 8.9% Demand 0.1% 1.4% (2.7%) 2.2% Supply 4.0% 6.7% (7.3%) 5.5% Demand -5.3% -2.2
Slide 7: Marine Fuel Oil Price Outlook Singapore market price
Marine Fuel Oil Price Outlook Singapore market price • The Ukrainian-Russian war, geopolitics and the resulting sanctions, and the OPEC+ production cuts agreement may be maintained until the end of 2023, these factors are expected to continue affecting the market and push oil prices higher. • The US
Slide 8: Business Information
Business Information 8
Slide 9: The Proportion of Consolidated Operating Income
The Proportion of Consolidated Operating Income ★AWE、PSW 、PNW ★Intra-East Asia ★Middle East, Red sea, South America, Australia, South Asia ★NCP、MED、TA、IEU Data interval:202201~202212 9
Slide 10: Lifting Volume Analysis
Lifting Volume Analysis- Lifting Volume in Year 202201~12 increased by 4% YOY FY2022：4.61 million TEU FY2021：4.41 million TEU 10
Slide 11: Capacity Ranking
Capacity Ranking • As of February 2023, Yang Ming's fleet capacity is ranked 9th in the world. Source: Alphaliner, Feb 2023 11
Slide 12: Trade Capacity Breakdown by Alliance
Trade Capacity Breakdown by Alliance relatively balanced on trade capacity • Three Major Alliances account for • When it comes to East-West Market 84% of market share, very identical share scale (in terms of weekly to Y-o-Y 2022. capacity), OA maintains largest in FE- • 2M+ZIM and OA remain Top 2 in
Slide 13: Financial Results
Financial Results 14
Slide 14: The Proportion of Consolidated Operating Revenue of Yang Ming Group
The Proportion of Consolidated Operating Revenue of Yang Ming Group Logistics Bulk Container Shipping Wharf 3.43% 1.55% 94.92% 0.09% 14
Slide 15: Consolidated Income Statement
Consolidated Income Statement Unit：NT$ Million Items FY2022 Operating Revenue 375,900 Gross Profit 230,170 Operating Income(Loss) 220,698 Net Income(Loss) 181,016 Profit(Loss),attribute to owners of the parent 180,592 EPS 51.71 15
Slide 16: Consolidated Operating Income, Gross Profit Margin and Net Income Margin
Consolidated Operating Income, Gross Profit(Loss) Margin and Net Income(Loss) Margin Data interval:2020Q1~2022Q4 16
Slide 17: Fuel price and Average FRT
Fuel price and Average FRT Unit： Unit： USD/TON USD/TEU 850 4,000 818 811 800 770 3,417 749 3,500 3,317 750 3,021 3,129 698 3,034 693 691 2,927 700 3,000 2,854 2,875 664 652 2,607 650 600 2,500 600 2,129 564 553 550 2,000 1,591 500 1,500 1,312 450 400 1,000 Fuel Price(TON) AVG FRT(TEU) 17
Slide 18: Structure of Shareholders
Structure of Shareholders 18
Slide 19: Operational Future Prospects
Operational Future Prospects 20
Slide 20: Service Rationalization-Strategies
Service Rationalization-Strategies • Invest in greener and more energy-efficient ships to replace existing vessels and enhance cost advantage. East-West • Extend Far East-Europe trade coverage by adding Tianjin-Xingang and Wilhelmshaven. Network • Improve on-time performance by rationalizing U.S. Ea
Slide 21: Yang Ming's Fleet Capacity and New Delivery
Yang Ming’s Fleet Capacity and New Delivery • Up to 31 Mar. 2023, there are 94 vessels in Yang Ming’s fleet, and total capacity is around 715,000 TEUs • 19 Fleets are scheduled to conduct maintenance in Y2023 for ship-energy saving. • 9 fleets are planned to install scrubber in Y2023 for bunker cost
Slide 22: Future Prospects
Future Prospects In the first half of 2023, the freight rates are under pressure due to overcapacity, inventory adjustment and higher inflation. With China’s economic reopening and factory activity is started by the gradual stabilization after Chinese Lunar New Year, 2023 Q2-Q3: prompting a sustaine
Slide 23: Q&A
Q&A 24
Yang Ming Marine Transport — 2023 Investor Conference on 6ix