Mitsui O.s.k.lines,ltd. · TSE:9104
Mitsui O.s.k.lines,ltd — Q1 2021 Earnings Presentation
21 slides from Mitsui O.s.k.lines,ltd's earnings presentation, Jul 30, 2021
Slide 1: Business Performance in FY2021 1st Quarter
Business Performance in FY2021-1st Quarter Mitsui O.S.K. Lines, Ltd. July 30, 2021
Slide 2: Contents
Contents 1. FY2021-1st Quarter Results [Consolidated] P3-4 2. Outline of FY2021-1st Quarter Results [Consolidated] P5-6 3. FY2021 Full-year Forecast [Consolidated] P7-8 4. Key Points of FY2021 Full-year Forecast [Consolidated] P9-10 5. (Reference 1) Actions to Achieve Further Competitiveness P11 6.
Slide 3: FY2021 1st Quarter Results [Consolidated]
1. FY2021-1st Quarter Results [Consolidated] FY2021 FY2020 FY2020 YoY (￥billion) Q1 Result Q1 Result Q4 Result Revenue 288.8 251.4 +37.4 259.7 Operating profit/loss 8.0 - 5.1 +13.1 - 4.2 Business profit/loss (*1) 99.3 3.4 +95.8 65.7 Ordinary profit/loss 104.2 7.3 +96.9 60.6 Net income/loss 104.1 5.4
Slide 4: FY2021 1st Quarter Results [By segment]
1. FY2021-1st Quarter Results [By segment] Upper Revenue Lower Ordinary profit/loss FY2021 FY2020 YoY (￥billion) Q1 Result Q1 Result Dry Bulk Business 78.3 57.6 +20.7 (excluding; Steaming Coal Carriers) 6.5 0.4 +6.1 Energy and Offshore Business 68.8 77.5 -8.6 (Tankers, Steaming Coal Carriers, LNG Ca
Slide 5: Outline of FY2021 Q1 Results (I) [Consolidated]
2. Outline of FY2021 Q1 Results (I) [Consolidated] [Overall] Revenue: An increase of ¥37.4 billion in a year-on-year comparison, mainly due to the favorable dry bulk market and a recovery in the transport volume by car carriers. Business profit / Ordinary profit: A significant increase of ¥95.8
Slide 6: Outline of FY2021 Q1 Results (II) [Consolidated]
2. Outline of FY2021 Q1 Results (II) [Consolidated] LNG Carriers and Offshore Businesses LNG carriers secured stable profits under long-term contracts. In the offshore business, FPSOs and subsea support vessels operated smoothly and a new FSRU was delivered, but one FSRU (the MOL FSRU Challenger)
Slide 7: FY2021 Full-year Forecast [Consolidated]
3. FY2021 Full-year Forecast [Consolidated] *as of June 21,2021 1st Half 2nd Half Full-year Previous Previous Previous Forecast Variance Forecast Variance Forecast Variance (￥ billion) Q1 Result Q2 Forecast Forecast* Forecast* Forecast* Revenue 288.8 281.1 570.0 560.0 +10.0 530.0 520.0 +10.0 1,100.0
Slide 8: FY2021 Full-year Forecast [By segment]
3. FY2021 Full-year Forecast [By segment] Upper Revenue Lower Ordinary profit/loss *as of April 30, 2021 1st Half 2nd Half Full-year Previous Previous Previous Forecast Variance Forecast Variance Forecast Variance (￥billion) Q1 Q2 Forecast* Forecast* Forecast* Dry Bulk Business 78.3 86.6 165.0 135.0
Slide 9: Key Points of FY2021 Forecast (I) [Consolidated]
4. Key Points of FY2021 Forecast (I) [Consolidated] [Overall] Revenue: ¥1,100 billion (Upward revision from timely disclosure on June 21: ¥1,080 billion, and announcement on April 30: ¥1,060 billion) Business profit: ¥335 billion (Upward revision from announcement on April 30: ¥90 billion) Ord
Slide 10: Key Points of FY2021 Forecast (II) [Consolidated]
4. Key Points of FY2021 Forecast (II) [Consolidated] LNG carriers and Offshore Businesses LNG carriers: One LNG carrier and one LNG bunkering vessel are scheduled for delivery and expected to generate stable profits along with the five delivered during the previous year. Offshore businesses: A
Slide 11: (Reference 1) Actions to Achieve Further Competitiveness
5．（Reference 1）Actions to Achieve Further Competitiveness Disclosure Date Actions Material MOL Revises Corporate Mission, Group Vision, and Group Values (MOL 1/Apr URL CHART"S") 30/Apr MOL Announced its Management Plan “Rolling Plan 2021” URL MOL and Industry Partners to Jointly Explore the Developm
Slide 12: Intentionally Blank
Intentionally Blank 12
Slide 13: Actions in Response to the Incident Off Mauritius: Measures to Prevent Reoccurrence
6. (Reference 2) Actions in Response to the Incident Off Mauritius Measures to Prevent Reoccurrence We reviewed our internal safety operation system after a grounding and oil spill off Mauritius last summer, and established measures to prevent the reoccurrence of such incident in December. Company-w
Slide 14: Actions in Response to the Incident Off Mauritius: Contribution Activities
6. (Reference 3) Actions in Response to the Incident Off Mauritius Contribution Activities to Local Environment and Communities 1) Total scale of ￥800 million for Japan Foundation (charitable trust) and Mauritius Foundation (relief fund) combined - Mauritius Foundation was established in June 2021 a
Slide 15: Dry Bulker Market (Spot Charter Rate)
Dry Bulker Market (Spot Charter Rate) [Supplement #1] 1. FY2020 (Result) (US$/day) FY2020 Size 1st Half 2nd Half Full-year Market for vessels operated by Apr-Sep, 2020 Oct, 2020 - Mar, 2021 Average MOL and MOL Drybulk Apr-Jun Jul-Sep Oct-Dec Jan-Mar Capesize 10,400 20,800 15,600 16,900 17,100 17,000
Slide 16: Tanker Market (Spot Earning)
Tanker Market (Spot Earning) [Supplement #2] １．FY2020 (Result) (US$/day) Vessel Type Trade FY2020 1st Half 2nd Half Full-year Apr-Sep, 2020 Oct, 2020- Mar, 2021 Average Market for vessels operated by MOL Apr-Jun Jul-Sep Oct-Dec Jan-Mar Crude Oil Tanker (VLCC) Arabian Gulf - Far East 92,900 19,900 56
Slide 17: Containerized Freight Index (CCFI)
Containerized Freight Index (CCFI*) [Supplement #3] 1. FY2020 (Result) (Jan 1, 1998=1,000) FY2020 1st Half 2nd Half Full-year Trade Apr-Sep, 2020 Oct, 2020 - Mar, 2021 Average Apr-Jun Jul-Sep Oct-Dec Jan-Mar U.S. West Coast 741 937 839 1,150 1,333 1,241 1,040 U.S. East Coast 930 1,034 982 1,275 1,49
Slide 18: Car Carrier Loading Volume
Car Carrier Loading Volume [Supplement #4] 1. FY2020 (Result) (1,000 units) FY2020 (Completed-voyage basis / 1st Half 1st Half 2nd Half 2nd Half Total including voyage charter) Q1 Q2 Q3 Q4 Total (Includes Intra-European trade) 610 478 1,088 779 840 1,619 2,707 2. FY2021 (Result & Forecast) (1,000 un
Slide 19: Cash Flows
Cash Flows [Supplement #5] (¥ billion) (¥ billion) 200 200 150 150 125.5 CFs from Investing Activities (left axis) -107.2 100.7 98.8 100 -86.8 100 CFs from Operating Activities -54.6 (right axis) 50 50 0 0 FY2019 FY2020 FY2021 Result Result Forecast (as of 30/Apr) Ordinary Profit/Loss(￥bn) 55.0 133.
Slide 20: Financial Plan
Financial Plan [Supplement #6] （¥ billion） Shareholders' equity 1,200 1,096.6 1,043.0 994.4 1,026.9 1,000 940.7 947.3 Interest-bearing debt 800 704.0 Net interest-bearing 577.7 600 513.3 debt(*1) 400 200 0 [(Net)Gearing ratio] [Equity ratio] 250% 40.0% Gearing ratio(*2) 214% 194% Net gearing ratio(*
Slide 21: Fleet Composition (incl. Offshore business)
Fleet Composition (incl. Offshore business) [Supplement #7] 31-Mar, 2021 30-Jun, 2021 31-Mar, 2022 1,000dwt (Forecast) Capesize 81 84 16,584 86 Small and Panamax 23 35 2,905 27 medium- Handymax 49 47 2,606 59 sized Handysize 29 32 1,184 31 Dry Bulk Business bulkers (Sub total) 101 114 6,695 117 Wood