News

April 2019 Monthly Earnings Release

 

Wisdom Marine Lines Co., Limited
April 2019 Monthly Earnings Release
  USD TWD(in thousands)
YoY% Change
Monthly Revenue 36,348,549 1,121,461 Plus 5.27%
Year-to-Date Revenue 146,618,944 4,520,995 Plus 8.24%
Monthly Operating Income 8,079,524 249,277 Plus (4.92)%
Monthly Net Income before
Income Tax Expense
26,380,797 813,925 Plus 393.53%
Year-to-Date Net Income
before Income Tax Expense
39,720,261 1,224,774 Plus 212.10%
Monthly Pre-tax EPS - 1.29 -
Year-to-Date Pre-tax EPS - 1.94 -

           Year-to-Date Operating Income              36,772,838              1,133,890             Plus 13.89%

Basis for Computation:
 
Month End
Monthly Average
Annual Average
TWD/USD 30.895 30.853 30.835
JPY/USD 111.33 111.62  110.55
Outstanding Shares 636,194,168 - -
Weighted Average of Shares Outstanding 632,175,630 - -
  Month End Prior Month Prior Year
No. of Vessels 132 129 128
BDI 1011 689 1341

 

 

Analysis:
1.Change of fleet:
4/2 Daiwan Miracle(DWT34000/Handy)joined Wisdom fleet.
4/5 Amis Queen(DWT63000/Supramax)joined Wisdom fleet.
4/16 Rukai Benefit(DWT13900/Other)joined Wisdom fleet for manage only.
2.Change in Operation:6 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:5 vessels renewal of contracts.
5.Operating Income:Operating income decreased 4.92% due to the dry bulk 
market slump in Q1. 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.
There was USD 22,600,000 compensation from the charterer for their early
termination of the time charter 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 
shares.
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.