Mitsui O.s.k.lines,ltd. · TSE:9104
Mitsui O.s.k.lines,ltd — FY2024 Earnings Presentation
29 slides from Mitsui O.s.k.lines,ltd's earnings presentation, Apr 30, 2025
Slide 1: Business Performance in FY2024 And Outlook for FY2025
2025/4/30 Business Performance in FY2024 And Outlook for FY2025 Mitsui O.S.K. Lines, Ltd. © 2025 Mitsui O.S.K. Lines, Ltd. 1
Slide 2: Contents
1. FY2024 Full-year Results [Consolidated] P3-8 2. FY2025 Full-year Forecast [Consolidated] P9-14 3. MOL Group Management Plan BLUE ACTION 2035 Contents FY2024 Progress Report P15-22 [Supplement #1-6] P23-28 Note 1: Fiscal Year = from April 1 to March 31 Q1 = April to June Q2 = July to September Q3
Slide 3: FY2024 Full-year Results [Consolidated]
FY2024 Full-year Results [Consolidated] *as of January 31, 2025 FY2024 FY2024 Result (*4) FY2023 Result Previous Forecast* (￥billion) Q1 Q2 Q3 Q4 Full-year Full-year YoY Full-year Variance Revenue 435.9 464.6 418.0 456.7 1,775.4 1,627.9 +147.5 1,790.0 -14.5 Operating profit/loss 40.6 48.5 33.1 28.5
Slide 4: FY2024 Full-year Results [By segment]
FY2024 Full-year Results [By segment] Upper Revenue (*1) Lower Ordinary profit/loss *as of January 31, 2025 FY2024 FY2023 FY2023 Result (*2) Result Previous Forecast* (￥billion) Q1 Q2 Q3 Q4 Full-year Full-year YoY Full-year Variance Dry Bulk Carriers 106.5 107.0 100.0 86.4 400.0 395.5 +4.4 400.0 + 0
Slide 5: FY2024 Full-year Results Analysis [By segment] in ordinary profit/loss
1 FY2024 Full-year Results Analysis [By segment] in ordinary profit/loss (¥ billion) Upward Downward Total 430.0 425.0 0.5 1.1 12.9 420.0 419.7 -4.3 -0.2 415.0 410.0 410.0 -0.0 -0.3 405.0 400.0 FY2024 Full-year Dry Bulk Energy Product Transport WBL Associated Others Adjustment FY2024 Full-year Previ
Slide 6: FY2024 Full-year Results Analysis [By segment] in ordinary profit/loss
1 FY2024 Full-year Results Analysis [By segment] in ordinary profit/loss (¥ billion) Upward Downward Total 490.0 177.3 440.0 -0.9 -0.3 -3.6 419.7 -25.2 390.0 340.0 290.0 36.7 258.9 240.0 -23.2 190.0 FY2023 Full-year Dry Bulk Energy Product Transport WBL Associated Others Adjustment FY2024 Full-year
Slide 7: Outline of FY2024 Full-year Results (I) [Consolidated]
Outline of FY2024 Full-year Results (I) [Consolidated] [Overall] Business profit / Ordinary profit / Income before income taxes / Net income: +¥218.1 billion / +¥160.7 billion / +¥157.3 billion / +¥163.8 billion year-on-year. Major reasons for the change in profit: Strong performance in the cont
Slide 8: Outline of FY2024 Full-year Results (II) [Consolidated]
Outline of FY2024 Full-year Results (II) [Consolidated] 1 Product Transport Business [ ¥302.9 billion (+¥177.3 billion)] Containerships [ ¥217.6 billion (+¥166.0 billion)] ONE: Freight rates for Asia - Europe and Asia - North America trades remained high as the supply and demand balance of the v
Slide 9: FY2025 Full-year Forecast [Consolidated]
FY2025 Full-year Forecast [Consolidated] (c.f.)Sensitivity against Full-year forecast (Ordinary income) At of the beginning of FY2025 FX Rate： ±¥ 1.6 bn/¥1/US$ Bunker Price： ±¥ 0.07 bn/$1/MT （VLSFO） FY2025 Forecast FY2024 Result (*4) YoY (￥billion) 1st Half 2nd Half Full-year 1st Half 2nd Half Full-
Slide 10: FY2025 Full-year Forecast [By segment]
FY2025 Full-year Forecast [By segment] Upper Revenue(*1) Lower Ordinary profit/loss FY2025 Forecast FY2024 Result (*3) YoY (￥billion) 1st Half 2nd Half Full-year 1st Half 2nd Half Full-year Dry Bulk Business (*2) Dry Bulk Carriers 205.0 195.0 400.0 213.5 186.4 400.0 -0.0 (including Steaming Coal Car
Slide 11: FY2025 Full-year Forecast Analysis [By segment] in ordinary profit/loss
2 FY2025 Full-year Forecast Analysis [By segment] in ordinary profit/loss (¥ billion) Upward Downward Total 450.0 419.7 400.0 -6.9 -37.6 350.0 300.0 250.0 200.0 1.3 6.2 150.0 150.0 -227.9 -3.1 -1.5 100.0 50.0 FY2024 Full-year Dry Bulk Energy Product Transport WBL Associated Others Adjustment FY2025
Slide 12: Key Points of FY2025 Full-year Forecast (I) [Consolidated]
Key Points of FY2025 Full-year Forecast (I) [Consolidated] 2 [Overall] Business profit / Ordinary profit / Income before income taxes / Net income: -¥248.2 billion / -¥269.7 billion / -¥252.7billion / -¥255.4 billion year-on-year. Key points: A year-on-year decline in profit is expected as marke
Slide 13: Key Points of FY2025 Full-year Forecast (II) [Consolidated]
Key Points of FY2025 Full-year Forecast (II) [Consolidated] Product Transport 2 Business [ ¥75.0 billion (-¥227.9 billion)] Containerships [ ¥36.0 billion (-¥181.6 billion)] ONE: A significant decrease in profit is expected compared to the previous year due to the anticipated softening of freigh
Slide 14: (Supplement) MOL's Forecast on ONE's Net Profit
2 （Supplement）MOL’s Forecast on ONE’s Net Profit Case 1 reflects ONE’s net profit forecast without factoring in the impact of U.S. tariff policies, while Case 2 reflects the assumption that tariffs will drive down both liftings and freight rates for Asia-North America trade, and also cause freight r
Slide 15: MOL Group Management Plan BLUE ACTION 2035 FY2024 Progress Report
1. Core KPIs 2. Rebalancing Plan 3. MOL Group Management Plan BLUE ACTION 2035 3. Phase 1 (FY2023-2025) Investment Progress FY2024 Progress Report 4. Phase 1 (FY2023-2025) Cash Allocation 5. FY2025 Shareholder Return Policy 6. FY2025 initiatives in Phase1 (FY2023-2025) © 2025 Mitsui O.S.K. Lines, Lt
Slide 16: Core KPI
3-1 Core KPI As an average, in Phase 1 (fiscal years 2023-2025) of BA2035, we have mostly achieved the initially set targets. FY2023 FY2024 FY2025 Phase 1 Phase 2 Phase 3 KPI Actual Actual Forecast FY2025 FY2030 FY2035 No changes Profit before tax (unit: JPY)*5 295.4 bil 452.7 bil 200.0 bil from 240
Slide 17: Rebalancing Plan
3-2 Rebalancing Plan We have strengthened investments in stable revenue-generating businesses, focusing on non-shipping sectors, and expanded our asset scale at a pace exceeding the initial Phase 1 plan (5.4 trillion yen). This term, we will conduct a long-term reassessment of our business portfolio
Slide 18: Phase 1 (FY2023-2025) Investment Progress
3-3 Phase 1（FY2023-2025） Investment Progress Against the planned investment of 1.34 trillion yen in Phase 1, decisions have already been made to invest 1.88 trillion yen, mainly in Energy Business and Product Transport Business. Investment Progress Amount by Business Units（On a cash-out basis. M&A,
Slide 19: Phase 1 (FY2023-2025) Cash Allocation
3-4 Phase 1（FY2023-2025）Cash Allocation Based on the strong performance of the past two years, operating cash flow (total) in Phase 1 increased by 250 billion yen compared to the original plan. In conjunction with external financing and asset replacement, additional investments and shareholder retur
Slide 20: Phase 1 (FY2023-2025) Shareholder Return Policy
3-5 Phase 1（FY2023-2025）Shareholder Return Policy The current shareholder return policy is maintained and expect a dividend of 150 yen per share for FY2025. No Changes Policy in Phase 1 of BLUE ACTION 2035 from BA2035 • Payout ratio: 30% • Minimum dividend: 150 yen per share • Potential share buybac
Slide 21: FY2025 initiatives in Phase 1 (FY2023-2025)
3-6 FY2025 initiatives in Phase1 (FY2023-2025) In Phase 1, we have advanced new investment for growth at a higher pace than our initial investment plan. In FY2025, final year of Phase 1, we will deepen discussions on optimal balance between new investment and shareholder returns. Discussion Points i
Slide 22: (Reference) Progress of BLUE ACTION 2035 Initiatives
3 (Reference) Progress of BLUE ACTION 2035 Initiatives Strategies / Materiality Actions (Press Release) ・ MOL Acquires Additional Shares of MODEC; Will Convert it into an Equity-method Affiliate(2024-8-20) ・ MOL and QatarEnergy Sign Long-term Time Charter of Six Newbuilding LNG Carriers(2024-12-13)
Slide 23: Dry Bulker Market (Spot Charter Rate) [Supplement #1]
Dry Bulker Market (Spot Charter Rate) [Supplement #1] 1. FY2024 (Result) (US$/day) FY2024 Size 1st Half 2nd Half Full-year Market for vessels operated by Apr-Sep, 2024 Oct, 2024 - Mar, 2025 Average MOL and MOL Drybulk Apr-Jun Jul-Sep Oct-Dec Jan-Mar Capesize 22,700 24,900 23,800 17,800 12,900 15,400
Slide 24: Tanker Market (Spot Earning) [Supplement #2]
Tanker Market (Spot Earning) [Supplement #2] １．FY2024 (Result) (US$/day) Vessel Type Trade FY2024 1st Half 2nd Half Full-year Market for vessels operated by MOL Jan-Jun, 2024 Jul-Dec, 2024 Average and its overseas subsidiaries Jan-Mar Apr-Jun Jul-Sep Oct-Dec Crude Oil Tanker Arabian Gulf - Far East
Slide 25: Containerized Freight Index (CCFI) [Supplement #3]
Containerized Freight Index (CCFI*) [Supplement #3] 1. FY2023 (Result) (Jan 1, 1998=1,000) FY2023 1st Half 2nd Half Full-year Trade Apr-Sep, 2023 Oct, 2023 - Mar, 2024 Average Apr-Jun Jul-Sep Oct-Dec Jan-Mar U.S. West Coast 707 733 720 725 978 851 786 U.S. East Coast 886 870 878 839 1,160 999 939 Eu
Slide 26: Car Carrier Loading Volume [Supplement #4]
Car Carrier Loading Volume [Supplement #4] 1. FY2024 (Result) (1,000 units) FY2024 1st Half 1st Half 2nd Half 2nd Half Total Q1 Q2 Q3 Q4 Total (Includes Intra-European trade) 812 734 1,546 694 676 1,370 2,916 2. FY2025 (Forecast) (1,000 units) FY2025 1st Half 2nd Half Total Total (Includes Intra-Eur
Slide 27: Cash Flows [Supplement #5]
Cash Flows [Supplement #5] (¥ billion) 650 600 549.9 550 CFs from Investing Activities 500 -450.8 (left axis, negative value) 450 400 -355.2 360.5 350 314.2 CFs from Operating Activities -281.9 300 (right axis) 250 200 150 100 50 0 FY2022 FY2023 FY2024 Result Result Result Ordinary Profit/Loss(￥bn)
Slide 28: Fleet Composition and Real Properties [Supplement #6]
Fleet Composition and Real Properties [Supplement #6] Number of ships 31-Mar, 2024 31-Mar, 2025 31-Mar, 2026 (Forecast) Capesize 78 74 74 Panamax 33 18 17 Small and Supramax 50 48 52 medium-sized Handysize 33 30 33 bulkers (Sub total) 116 96 102 Number of buildings and area owned by DAIBIRU Dry Bulk
Slide 29: Mitsui O.S.K. Lines
MitsuiO.S.K. Lines