Orient Overseas (international) Limited · HKEX:316
Orient Overseas (international) — H1 2024 Earnings Presentation
23 slides from Orient Overseas (international)'s earnings presentation, 2024
Slide 1: 2024 Interim Results
東方海外（國際）有限公司 2024 Interim Results 2024年中期業績
Slide 2: Disclaimer
DISCLAIMER 免責聲明 請注意 ： Please note that: (1) The information/contents herein includes both data provided from Orient Overseas (International) Limited (“OOIL”) and its (1) 本檔所載的資訊/內容包括由東方海外（國際）有限公司（“東方海外國際”）及其關聯公司提供的數據， affiliates and data obtained from relevant third-party information provider(s). Su
Slide 3: Highlights
Highlights 亮點 3rd highest 1H Revenue & net operating cashflow 集團史上第三高上半年收入和凈經營現金流 Net capacity is over 1M TEU 淨運力突破100萬TEU Attractive Dividend 極具吸引力的股息 A milestone step on decarbonization 邁出脫碳進程中具有里程碑的一步 Continue to deepen digitalization development 繼續深化推進航運數字化發展 3
Slide 4: Recap
Recap 回顧 4
Slide 5: Recap
Recap 回顧 Initial quick recovery of market which peaked prior to 春節前市場快速回升並達到峰值 CNY Disruption to services due to Red Sea 紅海局勢引發航線受阻 Slight dip post-CNY, but rebounded since Q2 春節後市場有所回落，但二季度反彈 Frontloading from Q2 二季度出現提前備貨 Traditional peak season with concerns over 傳統旺季疊加對供應鏈中斷的憂慮 potential supply
Slide 6: Key Metrics
KEY METRICS 關鍵指標 Net Profit (US$ B) Core Business EBIT Margin (%) Operating Cash Flow (US$ B) 淨溢利（十億美元） 核心業務息稅前溢利率 營運現金流（十億美元） 1.2 30.0 1.2 1.0 1.13 25.0 1.0 25.3 1.0 0.8 20.0 0.8 0.83 0.6 15.0 18.9 0.6 0.4 10.0 0.4 0.5 0.2 5.0 0.2 0.0 0.0 0.0 1H 2023 1H 2024 1H 2023 1H 2024 1H 2023 1H 2024 Cash & B
Slide 7: Container Transport (Excluding Logistics)
CONTAINER TRANSPORT (EXCLUDING LOGISTICS) 貨櫃運輸（不包括物流） 30 Jun 2024 30 Jun 2023 Change 二零二四年六月三十日 二零二三年六月三十日 變動 Liftings ('000 TEU) 3,677 3,600 2% 載貨量（千個標準箱） Freight Revenue (US$ M) 4,245 4,155 2% 運費收入（美元百萬） Freight Revenue Per TEU (US$) 1,155 1,154 - 每個標準箱平均運費收入（美元） Load Factor (%) 83.8 81.5 2.3% pt
Slide 8: Group Results Breakdown
GROUP RESULTS BREAKDOWN 集團業績明細 (US$ M) 30 Jun 2024 30 Jun 2023 (百萬美元) 截至2024年6月30日止6個月 截至2023年6月30日止6個月 Container Transportation and Logistics – EBIT 878.1 1,143.5 貨櫃運輸及物流 - 息稅前溢利 Container Transportation and Logistics – EBIT margin 18.9% 25.3% 貨櫃運輸及物流 - 息稅前溢利率 Property and Investments – LBIT (37.6)
Slide 9: Operating Costs 1H 2024
OPERATING COSTS 1H 2024 二零二四上半年營運成本 Per TEU 1H 2024 / 1H 2023 Change 1H 2024 Proportion 每個標準箱 二零二四上半年/ 佔二零二四上半年比例 二零二三上半年之變動 Total Cost - 100% 總成本 Cargo Costs 8% 42% 貨物處理成本 Equipment and Repositioning Costs 17% 15% 貨櫃成本及空箱回流費用 Vessel and Voyage Costs (Excluding Bunker Costs) -23% 25% 船舶及航程費用（除燃油成本外）
Slide 10: Group Balance Sheet Highlights
GROUP BALANCE SHEET HIGHLIGHTS 集團資產負債表摘要 (US$ M) 30 Jun 2024 31 Dec 2023 (百萬美元) 2024年6月30日 2023年12月31日 Non-Current Assets 8,421 7,919 非流動資產 Current Assets 7,737 7,690 流動資產 Total Assets 16,158 15,609 總資產 Non-Current Liabilities 1,896 2,027 非流動負債 Current Liabilities 2,339 2,372 流動負債 Total Liabilities
Slide 11: Net Cash
NET CASH 淨現金 (US$ M) 30 Jun 2024 31 Dec 2023 (百萬美元) 2024年6月30日 2023年12月31日 Cash and Bank Balances 6,685 6,722 現金及銀行結餘 Total Debt 1,307 1,438 債務總額 Net Cash 5,378 5,284 淨現金 11
Slide 12: Shanghai Containerized Freight Index
US$ 美元 0 1,000 2,000 3,000 4,000 5,000 2010-01 2010-03 2010-05 2010-07 1364 2010-09 2010-11 2011-01 2011-03 2011-05 2011-07 2011-09 1006 2011-11 2012-01 2012-03 2012-05 2012-07 2012-09 1254 2012-11 2013-01 2013-03 2013-05 2013-07 2013-09 1078 2013-11 2014-01 2014-03 2014-05 2014-07 2014-09 1074 2014
Slide 13: Industry Trade Volume (1H 2024)
INDUSTRY TRADE VOLUME 行業貿易額（1H 2024） Trade Route 1H2024 / 1H2023 1H2023 / 1H2022 1H2022 / 1H2021 航線 Trans-Pacific EB 16.5% (21.3%) 2.4% 太平洋東行航線 Asia-Europe WB 6.7% 2.4% (4.6%) 亞洲／歐洲西行航線 Intra-Asia 5.7% (8.0%) 2.4% 亞洲區內航線 Trans-Atlantic WB 2.1% (12.2%) 1.9% 大西洋西行航線 Sources: Datamyne and CTS 13
Slide 14: Industry Trade Volume (1H 2024)
INDUSTRY TRADE VOLUME 行業貿易額（1H 2024） Trans-Pacific EB Asia / Europe WB Intra-Asia Trans-Atlantic WB 太平洋東行航線 亞洲／歐洲西行航線 亞洲區內航線 大西洋西行航線 2024 2023 2022 2024 2023 2022 2024 2023 2022 2024 2023 2022 JAN 一月 14.3% (15.6%) 0.7% 6.8% (12.0%) 4.2% 12.2% (13.4%) 7.2% (11.0%) 0.8% 3.2% FEB 二月 27.9% (27.3%) 11.9%
Slide 15: Capacity Distribution
CAPACITY DISTRIBUTION 運力分佈 Trans-Pacific 06 - 2023 06 - 2024 太平洋航線, 31% Trans-Pacific 太平洋航線, 27% Trans-Atlantic Trans-Atlantic 大西洋航線, 6% 大西洋航線, 7% LAT LAT 拉美非, 拉美非, 4% 2% Asia / Europe Asia / Europe 亞 洲／歐洲航線, 亞 洲／歐洲航線, 34% Intra-Asia / Australasia 28% Intra-Asia / Australasia 亞洲區內／澳亞航線, 32% 亞洲區內／澳亞航
Slide 16: Outlook
Outlook 2 es MARA
Slide 17: Outlook
OUTLOOK 展望 Red Sea situation has yet to be resolved 紅海局勢仍然有待解決 Supply issue may resurface 運力問題可能重現 Ongoing newbuilding deliveries 新船陸續交付 Whether demand can be sustained 需求能否持續 Market Direction 未來市場何去何從 Uncertainties in economic trends and trade patterns 經濟走勢、贸易模式不确定性 Supply chain being susceptible t
Slide 18: Annual Capacity Growth
ANNUAL CAPACITY GROWTH 每年運載力增長 12% 10.5% 10% 8.6% 8.1% 8% 6.3% 5.8% 5.8% 6% 4.5% 4.0% 4.1% 3.8% 4% 2.9% 1.8% 2% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024F 2025F Actual Capacity Growth (Net) Projected New Capacity Growth (Gross) Source 数据来源: 实际增长（净） Alphaliner Monthly Monitor (Aug 202
Slide 19: Orderbook-to-Fleet Ratio
ORDERBOOK-TO-FLEET RATIO 訂單佔船隊比率 Source: Alphaliner (Aug 2024 Monthly Monitor) 19
Slide 20: Scrapping
SCRAPPING 報廢船舶 Source: Alphaliner (Aug 2024 Monthly Monitor) 20
Slide 21: OOCL's Chartered-In Fleet
OOCL'S CHARTERED-IN FLEET 東方海外租賃船舶 Chartered-In Fleet (As of 1 Jul 2024) Ships TEU 標準箱 租賃船隊 (截至 2024 年 7 月 1 日 ) 船舶 250,000 35 30 200,000 25 150,000 20 15 100,000 10 50,000 5 - 0 Expire within 6 months Expire between 6 to 12 months Expire between 1 to 2 years Expire 2 or more years 6個月個到期 6-12個月到期 1
Slide 22: Conclusion
CONCLUSION 總結 Time of challenges and opportunities 這是一個充滿挑戰和蘊含機遇的時期。 Synergy effects to its full potential and stay 充分發揮雙品牌協同效應，保持市場競爭力。 competitive 大力發展航運數智化和低碳化，做優綜合供應鏈服 Digitalisation and decarbonisation, improve 務 comprehensive supply chain services 东方海外继续快速反应、及时应对，擔當世界貿易 OOCL continues to respo
Slide 23: Dioich
Dioich Multumesc Arigato Paldies| init Faleminderit Istutiy 23
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