Kawasaki Kisen Kaisha, Ltd. · TSE:9107
Kawasaki Kisen Kaisha — H1 FY2003 Earnings Presentation
19 slides from Kawasaki Kisen Kaisha's earnings presentation, November 2003
Slide 1: Financial Highlights: Brief Report for 1st Half Fiscal 2003
Financial Highlights Brief Report for 1st Half Fiscal 2003 November 2003 Kawasaki Kisen Kaisha,Ltd. 1
Slide 2: Financial Highlights for 1H 2003F
A. Financial Highlights for 1H 2003F (Consolidated/Non-consolidated basis) (unit: billion yen) 03F 1H 02F 1H Comparison Comparison 03F 1H 03F 1H (Result) (Result) (a)-(b) (Ratio) (Prospect)* Comparison (a) (b) (c) (a)-(c) Operating Consoli 362.1 309.6 52.5 +17% 355.0 +7.1(2.0%) Revenues Non 295.0 24
Slide 3: Financial Indicators for 1H 2003F
A-2. Financial Indicators for 1H 2003F (unit:billion yen) ’02F 1H End ’02F End ‘‘03 03FF 1H 1H EndEnd Comparison 2004F End (Sept. ’02) (March ’02) (Sept. (Sept. ’’03) 03) (a)-(b) (March ’05) (a) (b) (b) KV Target Shareholders’ 77.5 82.0 102.5 102.5 +20.5 110.0 E q u i t y Interest Bearing 317.4 306.
Slide 4: Business Environment for 1H 2003F
B. Business Environment for 1H 2003F (Global Economy) -U.S.: Earlier end of the Iraq War, Stock price recovery, Positive tendency in the economy -E.U.: Rather weak economic tendency -Japan : Slight picking up from the bottom -Other Asia: Limited effect from SARS, Rapid growth in China (Our business)
Slide 5: Division-wise Results 1H 2003F: Container Business
C-1. Trend of Division-wise Results 1H 2003F (for Container Business) Container: 1H result exceeded prospect* (Loaded cargo volume: 1.03(1H’02F) >>>1.13 mil. TEU(1H’03F) (+9%)) -Positive cargo volume in Asia-North America/Europe trades mainly from China -Number of containers carried exceeded prospec
Slide 6: Division-wise Results 1H 2003F: Bulker & Car Carrier Service
C-2. Trend of Division-wise Results 1H 2003F (for Bulker & Car Carrier Service) Bulker & Car Carrier : 1H result exceeded prospect* Bulker : Market freight level favorable Remarkable increase in tonnage of every type of bulker, from ‘Cape-size’, ‘Panamax‘ to ‘small handy’ (Operating Tonnage : 54.86
Slide 7: Division-wise Results 1H 2003F: Energy Transportation
C-3. Trend of Division-wise Results 1H 2003F (for Energy Transportation) Energy Transportation : 1H result meets prospect -LNG Carrier : Stable progress in each project (Operating Tonnage : 2.76 (1H’02F) >>> 2.76 mil.tons (1H’03F) (flat)) -Thermal Coal Carrier : Increase of cargo volume with newly b
Slide 8: Division-wise Results 1Q 2003F: Consolidated Subsidiaries
C-4. Trend of Division-wise Results 1Q 2003F (for Consolidated Subsidiaries) • Short Sea/Coastal Shipping: Stable • Services Incidental to Transportation: Stable with increased container volume; Cargo volume in air freight forwarding decreased from effect of SARS. 8
Slide 9: Outline of Upward/Downward Profit Factors for 1H 2003F
D. Outline of upward/downward Profit Factors for 1H 2003F (unit: billion yen) Ordinary Income** : 1H2003F 1H2003F prospect**28.0, prospect**28.0, 1H2002F 1H2002F result result 7.8, 7.8, >>> 1H 2003F result 30.4 billion yen expected 1H2003F** /comparison with 1F2002F • Fluctuation in exchange rate -0
Slide 10: Prospect for 2003F
E. Prospect for 2003F (Consolidated/Non-consolidated basis) (unit: billion yen) FY2003 FY2003 FY2003 Compari- 11Q Q--3Q 3Q FY2002 Compari- Revised Revised Previous son Total Total Results son prospects prospects (a) (a) prospects**(b) (a)-(b) (c) (a)-(c) Operating Consoli 700.0 700.0 700.0 - 530.0 5
Slide 11: Division-wise Prospects for Fiscal 2003
F. Trend of Division-wise Prospects for Fiscal 2003 Containership : A hike in fuel-oil price, Concern about rise in value of Yen against U.S. Dollar, Efficient vessel operation along with demand, Further cost reduction by service reorganization, and Further freight rate restoration >>> Exceeding pro
Slide 12: Outline of Upward/Downward Profit Factors for 2003F
G-1. Outline of upward/downward Profit Factors for 2003F (unit: billion yen) Ordinary Ordinary Income* Income* 2003F 2003F prospect** prospect** 51.0, 51.0, 2002F 2002F result result 23.7, >>53.00 23.7, >>53. comparison with 2003F prospect**, 2002F result • Fluctuation in exchange rate - 4.0 - 5.8 •
Slide 13: Factors of P/L Volatility
G-2. Factors of P/L Volatility (FY2003 yearly Ordinary Income* basis) • Rise/fall of 1 Yen in exchange rate >>>Non-consolidated -/+0.7 billion yen >>>Consolidated -/+0.8 billion yen • Increase/decrease of Bunker Price at $10/MT >>>Non-consolidated -/+2.3 billion yen >>>Consolidated -/+2.4 billion ye
Slide 14: Updated Status of KV-Plan
H-1. Updated Status of KV-Plan (unit: billion yen) Result Prospect KV-Plan KV-Plan for 2002F for 2003F for 2004F achievement ratio Exchange Rate /US$ ¥122 ¥115 ¥130 +¥15 Bunker Price /MT $162 $169 $130 +$39 Non- Revenues 499.8 565.0 500.0 113% Consolidated Operating Income 19.8 47.0 27.0 174% Ordina
Slide 15: Transition of KV-Plan Numerical Targets on Consolidated basis
H-2. Transition of “KV-Plan” Numerical Targets on Consolidated basis (unit:billion yen) 2 0 0 1 F 2 0 0 2 F 22 00 00 33 FF 2 0 0 3 F 2 0 0 4 F R e s u l t s R e s u l t s PP rr oo ss pp ee cc tt ss K V T a r g e t K V T a r g e t Operating Revenue 571.0 632.7 700.0 700.0 630.0 650.0 Ordinary Income
Slide 16: Updated Status of CS-300
H-3. Updated Status of CS-300 (Cost Slash-300/Cost curtailing plan in KV-Plan) Plan 20.0 5.0 5.0 Result&Prospect 23.4 9.1 5.0 0 10 20 30 40 ２００２F ２００３F ２００４F （Unit: Billion Yen） The entire target for the 3-year plan is expected to be achieved within two years 16
Slide 17: Updated Status of KV-Plan Fundamental Assignments
I-1. Updated status of “KV-Plan” Fundamental Assignments <Fundamental Assignments> 1. Further strengthening of Company’s overall financial aspects through cost reductions and profitable use of IT, etc. 2. Enhancement of those aspects of globalization that are firmly based on regional communities and
Slide 18: Updated Status of KV-Plan Fundamental Assignments (2)
I-2. Updated status of “KV-Plan” Fundamental Assignments <Fundamental Assignment No.1> Cost reductions & IT • Cost reduction of ¥9.1 billion is expected to be achieved, well over the targeted ¥5.0 billion for 2003F • Start of world-wide port information database, “K” Line - Port Information Archive
Slide 19: Updated Status of KV-Plan Fundamental Assignments (3)
I-3. Updated status of “KV-Plan” Fundamental Assignments <Fundamental Assignment No.4> Technical innovations in marine transport, perfection of safety in navigation/cargo operations and environmental preservation. • Compressed natural gas (CNG) carrier design received “Class Approval in Principle” f
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