Kawasaki Kisen Kaisha, Ltd. · TSE:9107
Kawasaki Kisen Kaisha — Q1 FY2004 Earnings Presentation
16 slides from Kawasaki Kisen Kaisha's earnings presentation, Aug 6, 2004
Slide 1: Financial Highlights: Brief Report for 1st Quarter FY2004
Financial Highlights Brief Report for 1st Quarter FY2004 6 August 2004 Kawasaki Kisen Kaisha,Ltd. 1
Slide 2: A. Financial Highlights for 1Q FY2004
A. Financial Highlights for 1Q FY2004 (unit:billion yen) 04F 1Q 04F 1Q Comparison Comparison 03F 1Q (Result) (Prospect) * (a)-(b) (ratio) (Result) (b) (a) Operating Consoli 199.0 180.0 19.2 +11% 174.5 R e v e n u e s Non 161.0 145.0 16.0 +11% 141.3 Operating Consoli 26.6 17.0 9.6 +56% 12.1 i n c o m
Slide 3: B. Business Environment for 1Q 2004F
B. Business Environment for 1Q 2004F (Global Economy) z U.S.: Steady growth of capital investment and employment, Upward movement of the economy z E.U.: Gradual economic recovery z Other Asia: Economic expansion, maintenance of high economic growth in China z Japan: Stable consumer spending, Positiv
Slide 4: C-1. Trend of Division-wise Results 1Q 2004F (Container Business)
C-1. Trend of Division-wise Results 1Q 2004F (for Container Business) Container: 1Q result exceeded prospect*and result in previous year (Loaded cargo volume: 556 (1Q’03F) >>>616 thousand TEU(1Q’04F)(+11%) z Positive cargo volume in Asia-North America/Europe trades mainly from China z Number of cont
Slide 5: C-2. Division-wise Results 1Q FY2004 (Bulker & Car Carrier Service)
C-2. Trend of Division-wise Results 1Q FY2004 (for Bulker & Car Carrier Service) Bulker & Car Carrier : 1Q result exceeded prospect*and result in previous year z Bulker : Market freight level favorable despite a short period of downward adjustment (Operating Tonnage : 34.80 (1Q’03F) >>35.63 mil.tons
Slide 6: C-3. Division-wise Results 1Q FY2004 (Energy Transportation)
C-3. Trend of Division-wise Results 1Q FY2004 (for Energy Transportation) Energy Transportation : 1Q result exceeded prospect and result in previous year z LNG Carrier : Stable progress in each project (Operating Tonnage : 1.37 (1Q’03F) >>> 1.22 mil.tons (1Q’04F) (-11%)) z Thermal Coal Carrier : Inc
Slide 7: C-4. Division-wise Results 1Q FY2004 (Consolidated Subsidiaries)
C-4. Trend of Division-wise Results 1Q FY2004 (for Consolidated Subsidiaries) • Short Sea/Coastal Shipping: Stable, Result meets prospect • Air Carriage: Increased revenues and operating income • Services Incidental to Transportation: Increased revenues and operating income with increased container
Slide 8: D. Outline of upward/downward Profit Factors for 1Q FY2004
D. Outline of upward/downward Profit Factors for 1Q FY2004 (unit: billion yen) Ordinary Income* :1QFY2004 prospect**16.5, 1QFY2003 result 11.5 >>> 1Q FY2004 result 27.7 billion yen comparison with expected 1QFY2004**/1QFY2003 • Fluctuation in exchange rate +0.9 -2.7 • Increase of Bunker Price -0.6 -
Slide 9: E. Prospects for 1H FY2004
E. Prospects for 1H FY2004 (unit:billion yen) 1H FY2004 1H FY2003 Comparison Comparison 1H FY2003 Revised Previous (a)-(b) (Ratio) Results Prospects(a) Prospects(b)** Operating Consoli 397.0 370.0 27.0 7.3% 362.1 Revenues Non 320.0 300.0 20.0 6.7% 295.0 Operating Consoli 56.0 38.0 18.0 47.4% 34.3 i
Slide 10: F. Trend of division-wise prospects for 1H FY2004
F. Trend of division-wise prospects for 1H FY2004 <Container Business> – Stable cargo movement from China to North America/Europe, Improved freight rates, Increased vessel capacity, Cost reduction with service reorganization >>Exceeding previous prospect, Much better than 1Q FY2003 achievement <Bulk
Slide 11: G. Upward/Downward Factors Affecting Profit Prospects for 1H 2004F
G. Outline of Upward/Downward Factors Affecting Profit Prospects for 1H 2004F compared with 1H 2003F Ordinary Income*:1H2004F prospect** 37.0, 1H2003F result 30.4 >>>56.0 billion yen comparison with 1H 2004F prospect/1H 2003F result • Fluctuation in exchange rate +2.0 -5.0 • Bunker Oil Price -1.0 -1
Slide 12: H. Prospects for FY2004
H. Prospects for FY2004 (unit:billion yen) FY2004 FY2004 Comparison Comparison FY2003 Revised Previous (a)-(b) (Ratio) Results Prospects(a) Prospects(b)** Operating Consoli 790.0 760.0 30.0 3.9% 724.7 Revenues Non 620.0 600.0 20.0 3.3% 585.0 Operating Consoli 98.0 76.0 22.0 28.9% 70.5 i n c o m e No
Slide 13: I. Trend of division-wise Prospects for 2H FY2004
I. Trend of division-wise Prospects for 2H FY2004 <Container Business> Slightly exceeding previous prospect Stable cargo movement from China to North America/Europe, Decreased loaded containers caused by seasonal effects, Reduced margin due to hike in bunker-oil price <Bulker&Car Carrier Service> Be
Slide 14: J. Cost curtailing campaign
J. Cost curtailing campaign (Target for FY2004 : 5 Billion Yen) (unit:billion yen) Cost saving items 1H'04 2H'04 Total Vessel cost reduction 0.5 0.4 0.9 Various cargo charges reduction 1.1 0.8 1.9 Service rationalization 0.2 0.8 1.0 Subsidiary comp any 's various cost reduction 0.4 0.8 1.2 Administr
Slide 15: K. Vision2008 Achievement Goals (Management Indices)
K. Vision2008 Achievement Goals (Management Indices) (unit:billion yen) FY2003 FY2004 FY2004 FY2005 FY2008 Results Prospects Plan Plan Final Target Operating Revenue 724.7 790.0 760.0 790.0 870.0 Ordinary Income* 62.6 97.0 74.0 75.0 87.0 Shareholders’ Equity 121.0 172.0 160.0 200.0 340.0 Interest Be
Slide 16: L. Investment and Cash Flows
L. Investment and Cash Flows (unit: billion yen) F Y 2 0 0 3 F Y 2 0 0 4 F Y 2 0 0 4 R e s u l t s Prospects P l a n Investment* 53.8 69.4 73.2 Vessel 42.6 56.1 59.9 Others 11.2 13.3 13.3 (Non-consolidated) 11.8 4.2 4.2 Operating Cash Flow 78.6 83.0 80.0 (Depreciation) （25.6） （24.5） （24.5） Investmen
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