March 2019 Monthly Earnings Release


Wisdom Marine Lines Co., Limited
March 2019 Monthly Earnings Release
  USD TWD(in thousands)
YoY% Change
Monthly Revenue 37,697,013 1,162,952 Plus 6.15%
Year-to-Date Revenue 110,270,395 3,399,526 Plus 9.26%
Monthly Operating Income 9,623,226 296,875 Plus 9.90%
Monthly Net Income before
Income Tax Expense
4,371,509 134,859 Plus 28.77%
Year-to-Date Net Income
before Income Tax Expense
13,339,464 411,242 Plus 80.86%
Monthly Pre-tax EPS - 0.21 -
Year-to-Date Pre-tax EPS - 0.65 -

         Year-to-Date Operating Income                  28,693,314                  884,586                 Plus 20.63%

Basis for Computation:
Month End
Monthly Average
Annual Average
TWD/USD 30.82 30.850 30.829
JPY/USD 110.74 111.14  110.19 
Outstanding Shares 636,194,168 - -
Weighted Average of Shares Outstanding 630,836,116 - -
  Month End Prior Month Prior Year
No. of Vessels 129 130 128
BDI 689 658 1,055


1.Change of Fleet:3/18 Termination of BBHP : Genius Star I(Small Handy/10977DWT)
2.Change in Operation:3 vessels in dry-dock.
3.Fluctuation of Exchange Rate: Yen fluctuations resulted in non-operating 
income (loss) from outstanding borrowings denominated in Japanese Yen.  
4.Renewal of Contracts:4 vessels renewal of contracts.
5.Operating Income:Operating income increased 9.90%. However, the 
shipping market continued to recover, and with the Company’s new 
vessels delivery and the TC hire renewal this year, the expected 
operating income will have the opportunity to grow.
6.Non-operating income: The depreciation of New Taiwan Dollar and the 
depreciation of Japanese Yen led to foreign exchange gain 
by the exchange rate at the end of the month. USD134,634 compensation from 
BBHP termination was recognized as other income.
Notes on Compilation:
1.We adopt IFRS.
2.Our functional currency is US Dollar. The representation of TWD figures 
are calculated based on the average exchange rate of the relevant period. 
Evaluation gain or loss is calculated based on the month end exchange rate.
3.Rate of change is calculated with USD figures.
4.Earning per share is calculated based on weighted average of outstanding 
5.Depreciation and crew wage costs are calculated on a monthly basis, but 
revenue is calculated on incurred basis by day. Hence the calendar days of 
each month could slightly affect revenue and operating profits.
6.The lubricant oil expenses is estimated monthly and adjusted according to 
inventory check on a quarterly frequency.
7.The duration of each vessel might differ according to size, condition and
specifications. Modern new buildings now are normally depreciated on a 25 
year duration. 
8.The earning release is based on unaudited provisional account. Monthly
Net Income before Income Tax Expense reported in the earnings release
includes earnings attributable to minority interests.