Cosco Shipping Ports Limited · HKEX:1199
Cosco Shipping Ports — FY2023 Earnings Presentation
26 slides from Cosco Shipping Ports's earnings presentation, March 2024
Slide 1: 2023 FY Results Announcement
2023 FY Results Announcement Anchoring on Global Development, Empowered by Lean Operations and Innovation Led by Digital Intelligence, Achieving Cooperation and Success for All March 2024
Slide 2: Content
02 CONTENT 02. 03. 04. 01. 05. 06. Financial Operational Strategy & Highlights Q&A Appendix Performance Review Outlook
Slide 3: Highlights
03 HIGHLIGHTS 02. 03. 04. 01. Financial Operational Strategy & 05. 06. Highlights Q&A Appendix Performance Review Outlook
Slide 4: 2023 Highlights
04 HIGHLIGHTS 2023 HIGHLIGHTS “In 2023, our company achieved steady growth amidst many challenges The market is expected to grow further in 2024 based on the recovery in 2023” 2023 2023 ASP of 2023 ASP of 2023 Profit Attributable 2023 Dividends per Total Equity Throughput China Subsidiaries European
Slide 5: Financial Performance
05 FINANCIAL PERFORMANCE 01. 02. 03. 04. 05. 06. Financial Operational Strategy & Highlights Q&A Appendix Performance Review Outlook
Slide 6: Overall Performance
06 OVERALL PERFORMANCE （US$ Million, unless stated otherwise） 2022 2023 YoY Revenue Operating profit Total throughput from subsidiaries (USD Million) (USD Million) 31.6 30.8 -2.7% (Million TEU) 1,454.4 274.8 Revenue Cost 1,441.3 (1,011.6) 1,454.4 (1,033.5) +0.9% +2.2% +0.9% YoY +5.2% YoY Gross Profi
Slide 7: Revenue and Gross Profit Margin
07 REVENUE AND GROSS PROFIT MARGIN “Overall revenue at Chinese and overseas Chinese Subsidiaries 2023 Revenue (M USD) subsidiaries rose steadily in 2023, our 199.7 company will continue to increase revenue (YoY:+9.4%) 185.3 189.3 and reduce costs to drive further growth” (YoY:-7.3%) 132.3 (YoY:+7.3%
Slide 8: Subsidiary and Non-Subsidiary Terminal Profit
08 SUBSIDIARY AND NON-SUBSIDIARY TERMINAL PROFIT Subsidiaries profits decreased by 3.7% YoY, among which China subsidiaries recorded a 5.5% YoY Total Terminal Profit increase due to successful lean operations strategy, while overseas subsidiaries decreased by 19.9% YoY. Excluding CSP Spain and Zeebr
Slide 9: China and Overseas Terminal Profit
09 CHINA AND OVERSEAS TERMINAL PROFIT In China, due to the impact on terminals mainly with foreign trade, terminal profit in China slightly declined Total Terminal Profit by 0.3% YoY but remained stable； 431.6 M USD YoY -2.2% Overseas, performance was mainly affected by terminals in Northwestern Eur
Slide 10: Financial Position
10 FINANCIAL POSITION USD Million As of 31 Dec 2022 As of 31 Dec 2023 “Healthy Financial Position Drives Sustainable Development“ Total assets 11,326.4 11,931.9 Total Liabilities 4,687.2 5,089.4 Equity Attributable to 5,532.0 5,770.7 Net debt-to-equity ratio & Shareholders CAPEX (Million USD) averag
Slide 11: Operational Review
11 OPERATIONAL REVIEW 01. 02. 03. 04. 05. 06. Financial Operational Strategy & Highlights Q&A Appendix Performance Review Outlook
Slide 12: Total Throughput and Equity Throughput
12 TOTAL THROUGHPUT AND EQUITY THROUGHPUT Total Equity Throughput +4.4% “In 2023, Throughput Continued to Recover Throughput +3.1% with Most Regions Recording YoY Growth” 135.8 M TEU 43.4 M TEU 2023 Total Throughput 2023 Equity Throughput by Region (M TEU) by Region (M TEU) +16.5% +14.3% +8.0% +5.1%
Slide 13: Market Development
13 MARKET DEVELOPMENT “Throughput of 8 Major Subsidiaries (1) from • In 2023, our subsidiary terminals introduced 55 new routes, contributing OCEAN Alliance in 2023 increased 11.0% YoY” approximately 788 thousand TEU • ASP at major subsidiary terminals continued to increase. In the future we will co
Slide 14: Supply Chain Projects
14 Supply Chain Projects Xiamen Haitou CFS Xiamen Haicang CFS “High-technology, high value-added and green products have become the new engine to support China's foreign Total Area CAPEX Total Area CAPEX trade growth” 377,100m² 94M USD 23,800m² 135M RMB 1.2 Million Vehicles Warehouse Warehouse Growt
Slide 15: Technological Development
15 TECHNOLOGICAL DEVELOPMENT 5G Smart Ports • Xiamen Ocean Gate Terminal has fully implemented the driverless container vehicle project, with an annual handling of 210,000 TEU, a YoY increase of 4.5 times. • Expanding the implementation of 5G Smart Ports at CSP Abu Dhabi Terminal • Completing the pr
Slide 16: Strategy & Outlook
16 STRATEGY & OUTLOOK 01. 02. 03. 04. 05. 06. Financial Operational Strategy & Highlights Q&A Appendix Performance Review Outlook
Slide 17: Development Strategies
17 DEVELOPMENT STRATEGIES Global Layout Strategies Lean Operations Optimising Strengthening Global Lean Synergy + Balanced Development Portfolio Operations Improving Improving Operational Quality of Performance Development Digitalisation Operational Efficiency Green Integration Digitalisation Develo
Slide 18: Sustainable Development
18 SUSTAINABLE DEVELOPMENT Major ESG Ratings in 2023 01 02 Greenhouse Gas Emissions Energy Consumption 2023 Subsidiaries GHG Emissions 2023 Subsidiaries Energy Use Became a constituent company CDP 2023 Rating: B Intensity Intensity in the FTSE4Good Index in June 2023 YoY 0.9% YoY 2.5% Compared to 20
Slide 19: Sustainable Development
19 SUSTAINABLE DEVELOPMENT 03 04 Water Consumption Waste 2023 Subsidiaries Target for hazardous waste: Water Consumption Intensity - Maintain 100% hazard-free disposal of waste Compared to 2020 12.5% Target for non-hazardous waste： - Reduce domestic waste at terminals and in the long term, Subsidiar
Slide 20: Outlook
20 OUTLOOK Goal for 2024： Long Term Goals： GOALS Boosting Creating Value Volume Reducing Costs and Equity Throughput Increasing Revenue Striving to Build A Leading Global Port Logistics Service Provider Domestic Green & Demand OPPORTUNITIES Smart Emerging Supply Markets Chain Synergy Impact on the S
Slide 21: Q&A
21 Q&A 02. 03. 04. 01. Financial Operational Strategy & 05. 06. Highlights Q&A Appendix Performance Review Outlook
Slide 22: Appendix
22 APPENDIX 02. 03. 04. 01. Financial Operational Strategy & 05. 06. Highlights Q&A Appendix Performance Review Outlook
Slide 23: Terminal Profit
23 TERMINAL PROFIT Terminal Profits US$' 000 2022 % of total 2023 % of total YoY Bohai Rim 155,235 35.2% 177,958 41.2% 14.6% QPI 128,191 29.1% 135,193 31.3% 5.5% Dalian Container Terminal 5,791 1.3% 5,654 1.3% -2.4% Dalian Dagang Terminal 86 0.0% 97 0.0% 12.8% *Tianjin Container Terminal 11,144 2.5%
Slide 24: Terminal Profit (Cont'd)
24 TERMINAL PROFIT (CONT’D) Terminal Profits US$' 000 2022 % of total 2023 % of total YoY Southwest Coast 18,666 4.2% 21,929 5.1% 17.5% Beibu Gulf Terminal 7,485 1.7% 7,658 1.8% 2.3% Beibu Gulf Port (1) 11,299 2.6% 14,316 3.3% 26.7% Related business -118 0.0% -45 0.0% N/A Overseas 86,219 19.5% 77,92
Slide 25: Disclaimer
25 DISCLAIMER This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports”) and certain plans and prospects of the management of COSCO SHIPPING Ports. Such forward-loo
Slide 26: Thank You!
Thank You! COSCO SHIPPING Ports Limited Address: 49/F, COSCO Tower, 183 Queen's Road Central, Hong Kong Telephone: +852 2809 8188 Fax: +852 2907 6088 Email: ir.csp@coscoshipping.com Website: https://ports.coscoshipping.com