Orient Overseas (international) Limited · HKEX:316
Orient Overseas (international) — FY2011 Earnings Presentation
21 slides from Orient Overseas (international)'s earnings presentation, Mar 12, 2012
Slide 1: Orient Overseas (International) Ltd. 2011 Annual Results
Orient Overseas (International) Ltd. 2011 Annual Results March 12th 2012
Slide 2: Group Results – 2011 Vs 2010
Group Results – 2011 Vs 2010 US$M 2011 2010 Profit for the Year 182.4 1,874.4 Made up of: Profit on Disposal of OODL - 1,004.6 Write back of provision 43.0 - Profit from OOCL 86.0 834.3 OOIL Activity 53.4 35.5 March 12th, 2012 2
Slide 3: Group Results – 2011 Vs 2010
Group Results – 2011 Vs 2010 US$M 2011 2010 Revenue 6,012 6,033 EBIT 184 923 Profit After Tax 182 1,874 EBIT Margin 3.1% 15.3% Earnings per Ordinary Share (US$ Cents) 29.0 298.3 March 12th, 2012 3
Slide 4: Container Transportation & Logistics
Container Transportation & Logistics US$ / TEU 2011 2010 %▲ 2H11 2H10 %▲ Liftings ('000) 5,033 4,768 5.6% 2,594 2,538 2.2% Revenue ('000) 5,986,719 6,008,842 (0.4%) 3,078,478 3,288,125 (6.4%) Revenue Per TEU* 1,099 1,178 (6.7%) 1,075 1,217 (11.7%) Operating Capacity 415,790 383,855 8.3% N/A N/A N/A
Slide 5: OOCL Operational Update
OOCL Operational Update* YTD Q4 2011 Q4 2010 change FY 2011 FY 2010 change LIFTINGS (TEU'S) Trans-Pacific 316,953 318,977 -0.6% 1,230,135 1,224,858 0.4% Asia-Europe 210,813 215,725 -2.3% 863,064 793,315 8.8% Trans-Atlantic 100,733 95,775 5.2% 391,577 358,262 9.3% Intra-Asia/Australasia 649,635 673,6
Slide 6: All Trades Liftings and Revenue per TEU
All Trades Liftings and Revenue per TEU* 2008 Total Lifting 2009 Total Lifting 2010 Total Lifting 2011 Total Lifting 2008 Total Revenue per TEU 2009 Total Revenue per TEU 2010 Total Revenue per TEU 2011 Total Revenue per TEU TEU ('000) Revenue per TEU (US$) 1,600 1,400 1,400 1,300 1,200 1,200 1,000
Slide 7: Bunker Cost
Bunker Cost US$M 2011 2010 %▲ Total Fuel Oil Consumption ('000 TON) 1,890 1,832 (3%) Average Fuel Oil Price (US$ per TON) 624 458 (36%) Total Fuel Oil costs (US$M) 1,179 839 (41%) Total Bunker Costs (US$M) 1,210 857 (41%) % of Total Operating Costs 22% 18% (4%) Lifting (‘000 TEU) 5,033 4,768 5.6% Ma
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights US$M 2011 2010 Non-current Assets 4,890 4,516 Current Assets 2,839 4,556 Total Assets 7,729 9,072 Non-current Liabilities 2,287 2,469 Current Liabilities 1,160 1,024 Total Liabilities 3,447 3,493 Equity holders 4,275 5,572 Non-controlling Interests 7 7 Total Equity 4,282 5,5
Slide 9: Net (Cash) / Debt Position
Net (Cash) / Debt Position US$M 31 Dec 2011 31 Dec 2010 Liquid Assets 2,413 4,133 Debt 2,672 2,664 Net Debt / (Cash) 259 (1,469) March 12th, 2012 9
Slide 10: Debt-to-Equity Ratios
Debt-to-Equity Ratios Gross Debt to Equity Net Debt to Equity 2.0 2.0 1.5 1.5 1.0 1.0 0.65 0.63 0.53 0.54 0.48 0.5 0.5 0.31 Net Cash 0.07 Net Cash 0.06 0.0 0.0 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 March 12th, 2012 10
Slide 11: OOCL Static Slot Capacity Breakdown
OOCL Static Slot Capacity Breakdown % of # of Capacity Average As at 31 Dec 2011 Total Vessels (TEU) (TEU) Fleet Owned 44 270,370 6,145 65.0% Long Term Chartered 14 74,170 5,298 17.8% Operating Lease 1 4,402 4,402 1.1% Short Term Chartered 37 112,582 3,043 27.1% Charter-Out (8) (45,734) 5,717 -11.0%
Slide 12: Size of Owned Fleet and Fleet on Order
Size of Owned Fleet and Fleet on Order As at 31 Dec 2011 Sum of Teus ('000) Owned Fleet On Order 2,800 TEU Vessels x 1 2,800 teus P Class Vessels x 19 4,500 teus S Class Vessels x 7 5,300+ teus SX Class Vessels x 18 SX Class Vessels x 6 8,000+ teus 13,000 TEU Vessels x 10 13,000+ teus 0 50 100 150 2
Slide 13: OOCL Fleet for Future Deliveries
OOCL Fleet for Future Deliveries • Delivery schedule of vessels: 1. 2012 (8,888 TEU) 2. 2013 (8,888 TEU x 3) & (13,000 TEU x 8) 3. 2014 (8,888 TEU x 2) & (13,000 TEU x 2) • 8 x 8,888 TEU vessels were placed with Hudong – Zhonghua Shipbuilding (Group) Co. Ltd, PRC. – 2 x 8,888 vessels were already de
Slide 14: Next 5 Years
Next 5 Years • US demand should grow steadily and likely to accelerate by 2013. • Recovery in job and housing will mean more imports from Asia. • Europe should stabilize with steady demand growth. • Largest ships to be deployed in Asia-Europe and Trans-Pacific trades. • Cascading vessels moves to La
Slide 15: State of the Industry 2012
State of the Industry 2012 • The immediate outlook for 2012 remains difficult. • Accelerated obsolesce of non-fuel efficient vessels. • Weakened financial situation of carriers creates stronger desire for rate restoration. • 2010 strong re-stocking seems improbable in 2012. • Profitability can only
Slide 16: State of the Industry - 2012
State of the Industry - 2012 • World capacity reached 16m teus in Feb 2012. • Lay up tonnage at 1.1 m teus representing 5.4% of the total. • 27 units of container vessels scraped = 55,000 teus = 0.3% since Jan 2012. • Low demand growth expected for Asia-Europe and Asia-USA. • Rate increases announce
Slide 17: OOCL Global Revenue & Lifting Distribution
OOCL Global Revenue & Lifting Distribution* FY2011 vs FY2010 Revenue (in US$) FY2011 Revenue (in US$) FY2010 Intra- Trans-Pacific Intra- Asia/Australasia Trans-Pacific Asia/Australasia 35% 37% 34% 30% Trans-Atlantic Trans-Atlantic Asia-Europe Asia-Europe 10% 12% 19% 23% Lifting (in TEU) FY2011 Lifti
Slide 18: Operating Costs
Operating Costs 2010 2011 14% 14% 16% 17% 47% 52% 18% 22% March 12th, 2012 18
Slide 19: Bunker Price
Bunker Price March 12th, 2012 19
Slide 20: Thank You
Thank You For further inquiries, please contact Investor Relations Team: • Mr. Stanley Shen Phone: (852) 2833 3167 E-mail: stanley.shen@oocl.com • Mr. James Leung Phone: (852) 2833 3907 E-mail: james.leung@oocl.com March 12th, 2012
Slide 21: Disclaimer
Disclaimer The information provided is for reference only and includes data obtained from sources provided by the relevant information provider(s) and is subject to change without notice. Orient Overseas (International) Limited (“OOIL”) and its affiliates, and the concerned information provider(s),
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