News

July 2019 Monthly Earnings Release

 

Wisdom Marine Lines Co., Limited
July 2019 Monthly Earnings Release
  USD TWD(in thousands)
YoY% Change
Monthly Revenue 38,006,168 1,181,080 Plus 1.78%
Year-to-Date Revenue 258,712,597 8,019,056 Plus 5.27%
Monthly Operating Income 8,863,866 275,453 Plus(15.79)%
Monthly Net Income before
Income Tax Expense
2,048,893 63,670 Plus (56.19%)
Year-to-Date Net Income
before Income Tax Expense
46,720,898 1,448,161 Plus 69.75%
Monthly Pre-tax EPS - 0.10 -
Year-to-Date Pre-tax EPS - 2.28 -

                  Year-to-Date Operating Income            63,457,782                1,966,937                   Plus 2.45%

Basis for Computation:
 
Month End
Monthly Average
Annual Average
TWD/USD 31.090 31.076 30.996
JPY/USD 108.56 108.21  109.77 
Outstanding Shares 641,717,090 - -
Weighted Average of Shares Outstanding 634,979,125 - -
  Month End Prior Month Prior Year
No. of Vessels 132 131 129
BDI 1868 1354 1747

 

Analysis:
1.Change of Fleet:7/30 Bunun Leader (Handy/37600DWT) joined Wisdom fleet.
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:4 vessels renewal of contracts. 5.Operating Income:Operating income decreased 15.79% 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 Japanese Yen led to USD400,000 foreign exchange gain by the exchange rate at the end of the month; Fluctuation of stock price led to USD 2,300,000 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.