News

June 2019 Monthly Earnings Release

 

Wisdom Marine Lines Co., Limited
June 2019 Monthly Earnings Release
  USD TWD(in thousands)
YoY% Change
Monthly Revenue 36,586,374 1,145,849 Plus 1.07%
Year-to-Date Revenue 220,706,429 6,838,147 Plus 5.89%
Monthly Operating Income 8,999,955 281,867 Plus (3.52)%
Monthly Net Income before
Income Tax Expense
1,108,366 34,711 Plus (81.40%)
Year-to-Date Net Income
before Income Tax Expense
44,672,005 1,384,073 Plus 95.53%
Monthly Pre-tax EPS - 0.05 -
Year-to-Date Pre-tax EPS - 2.18 -

              Year-to-Date Operating Income                54,593,916                    1,691,483                  Plus 6.19%

Basis for Computation:
 
Month End
Monthly Average
Annual Average
TWD/USD 31.060 31.319 30.983
JPY/USD 107.64 108.04  110.03 
Outstanding Shares 640,702,967 - -
Weighted Average of Shares Outstanding 634,025,151 - -
  Month End Prior Month Prior Year
No. of Vessels 131 131 129
BDI 1354 1096 1385

 

Analysis:
1.Change of Fleet:None
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:6 vessels renewal of contracts.
5.Operating Income:Operating income decreased 3.52% 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 appreciation of New Taiwan Dollar and the 
appreciation of Japanese Yen led to foreign exchange loss by the exchange 
rate at the end of the month;Fluctuation of stock price led to evaluation
loss of 2nd Secured Covertible Bond and 3th Unsecured Covertible Bond. 
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.