Sitc International Holdings Co., Ltd. · HKEX:1308
Sitc International — FY2021 Earnings Presentation
24 slides from Sitc International's earnings presentation, March 2022
Slide 1: SITC International Holdings Company Limited
SITC International Holdings Company Limited (Stock Code: HK1308) March 2022 1
Slide 2: Disclaimer
Disclaimer This document does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of SITC International Holdings Company Limited (the ―Company‖) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form
Slide 3: Agenda
Agenda 1 2021 Highlights 2 Operational Review 3 Financial Overview 4 Company Overview 3
Slide 4: 1. 2021 Highlights
SITC 1. 2021 Highlights
Slide 5: 2021 Highlights
2021 Highlights We continued to perform well in 2021 and recorded a net profit of US$1.167 billion, which represented a YoY increase of 230%. 2021 2020 Variance Container shipping volume (TEU) 3,142,118 2,614,203 20.2% Revenue (US$ m) 3,012.4 1,685.2 78.8% Gross profit (US$ m) 1,319.4 445.0 196.5% N
Slide 6: Development of the Company in 2021
Development of the Company in 2021 Business development ： Accolades： Continued to expand the intra-Asia routes ,four new self- SITC participates in the first "International carbon neutral 30 operated routes were added in the year forum" and won the title of "carbon neutral practice pioneer"
Slide 7: 2. Operational Review
SITC 2. Operational Review
Slide 8: Segment Review
Segment Review Our revenue increased by 78.8% in 2021 compared to 2020, and gross profit margin increased from 26.4% in 2020 to 43.8% in 2021. Revenue Gross Profit and Gross Profit Margin (US$ Million) (US$ Million) GPM 43.8% 26.4% 1319.4 19.2% 11.4 3012.4 29.2 1685.2 1307.9 1553.7 2983.2 22.3 26.4
Slide 9: Container Shipping and Logistics: Overview
Container Shipping and Logistics: Overview Container Shipping Volume and Avg. Freight Rate Revenue Container Shipping Vol. Average Freight Rate (US$ Million) Other container shipping logistics Container shipping and supporting logistics ( TEU Million) (US$/TEU) 20.2% 2983.2 826.9 3.5% 279.4 0.6% 545
Slide 10: Container Shipping and Logistics: Fleet
Container Shipping and Logistics: Fleet Capacity Vessel Quantity (Owned v.s. Chartered） (TEU) 96 143,115 90 129,652 82 96 vessels 117,578 28 39,452 26 35,177 25 Fleet Age： 40,873 11.7 years Self- 94,475 103,663 64 68 owned： 76,705 57 9.5 years 2019 2020 2021 2019 2020 2021 Owned Chartered Owne
Slide 11: Dry Bulk and Others: Overview
Dry Bulk and Others: Overview Revenue Gross Profit and Gross Profit Margin (US$ Million) (US$ Million) GPM 33.8% 39.1% 17.9% 29.2 1.7 26.4 1.5 11.4 8.9 22.3 1.5 4.0 2019 2020 2021 Dry Bulk Vessels 27.6 24.9 5 dry bulk vessels with 20.8 362,497 Dwt 20% Average Age：9 years Supermax: 1 vessel wit
Slide 12: 3. Financial Overview
SITC 3. Financial Overview 12
Slide 13: Profitability Analysis
Profitability Analysis Revenue Net Profit and Net Profit Margin (US$ million) (US$ million) NPM 38.7% 3012.4 21.0% 14.3% 1167.2 1685.2 1553.7 353.7 221.5 2019 2020 2021 2019 2020 2021 13
Slide 14: Return Analysis
Return Analysis ROE ROA 49.1% 86.1% 31.9% 18.7% 21.5% 13.4% 2019 2020 2021 2019 2020 2021 14
Slide 15: Credit Overview
Credit Overview Interest-Bearing Bank Borrowings(1）/ EBITDA(1) Interest Coverage(1) (x) EBITDA / Interest Expense (x) 0.87 0.81 85.0 0.25 67.8 2019 2020 2021 Total Liabilities / Shareholders’ Equity(1) (x) 37.9 0.79 0.72 0.71 2019 2020 2021 2019 2020 2021 Note： (1) Extracted/calculated based on the
Slide 16: Cash Flow Overview
Cash Flow Overview Capex Trade Receivable Days (US$ Million) Vessels and Supporting Logistics Others (day) 187.1 189.1 15.7 8.2 9.3 14.4 13.4 116.1 3.9 179.0 179.8 112.2 2019 2020 2021 2019 2020 2021 Dividends and Payout Ratio Trade Payable Days (US$ Million) 117% Payout (day) 95% Ratio 81% 43.7 39.
Slide 17: Income Statement Summary
Income Statement Summary US$’000 2021 2020 Variance Revenue 3,012,447 1,685,167 78.8% Cost of Sales (1,693,074) (1,240,136) 36.5% Gross Profit 1,319,373 445,031 196.5% Other Income and Gains,net 24,267 22,911 5.9% Administrative Expenses (154,764) (96,970) 59.6% Other Expenses,net (4,493) (2,452) 83
Slide 18: Balance Sheet Summary
Balance Sheet Summary US$’000 Dec 31, 2021 Jan 1, 2021 Variance Cash and cash equivalents 951,586 535,558 77.7% Trade receivables 157,038 103,922 51.1% Property, plant, equipment & their 1,232,856 1,139,510 prepayments 8.2% Right of use asset 233,189 169,557 37.5% Investment in JV and Associates 60,
Slide 19: 4. Company Overview
SITC 4. Company Overview 19
Slide 20: Our Corporate Milestones
Our Corporate Milestones SITC gained its leading market position within a short period of 30 years since its establishment in 1991. Opened new routes to West Malaysia and 2021 Myanmar 2020 Marched in Bangladesh Market 2018 Rated A by MSCI-ESG 2015 Entered the Fortune 500 of China 2014 Marc
Slide 21: Our Business
Our Business We are a leading Intra-Asia shipping logistics company ,providing integrated transportation and logistics solutions Freight forwarding Ship agency Container shipping Depot and Warehousing Trucking 4th 16th Top 4 Container Ranked 16 among the global shipping Company in container shipping
Slide 22: Container Shipping and Logistics: Network
Container Shipping and Logistics: Network Our high-frequency, high-density business model and constantly expanding logistics network effectively meet our customer’s needs and positions us well to benefit from intra-Asia trade and volume growth Our Shipping and Logistics Network High Density – Own
Slide 23: Single-Typed, Flexible Fleet Drives Our Network Driven Model
Single-Typed, Flexible Fleet Drives Our Network Driven Model Focusing on small vessels improves our flexibility and lowers the vessel costs, which is fundamental to our network driven model. 55% of 96 Vessels are 1,000 TEU Type Small vessel best suits our business model in terms of space utilizati
Slide 24: Business Strategy
Business Strategy 1 Business Model Mainly focus on the Asia market and provide our clients with high efficiency and high quality logistic service, to become the preferred choice for clients 2 Pattern of Development On the basis of self-operation and asset-light model, establishing logistic chann
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