News

August 2021 Monthly Earnings Release

Wisdom Marine Lines Co., Limited
August 2021 Monthly Earnings Release
  USD TWD(in thousands)
YoY% Change
Monthly Revenue 61,301,530 1,708,351 67.62%
Year-to-Date Revenue 402,514,017 11,270,795 57.66%
Monthly Operating Income 28,320,403 789,231 374.76%
Year-to-Date Operating Income 151,644,197 4,246,189 565.63%
Monthly Net Income before
Income Tax Expense
24,698,417 688,293 830.98%
Year-to-Date Net Income
before Income Tax Expense
135,524,736 3,794,828 1290.52%
Monthly Pre-tax EPS - 0.92 -
Year-to-Date Pre-tax EPS - 5.08 -

 

Basis for Computation:
 
Month End
Monthly Average
Annual Average
TWD/USD 27.755 27.868 28.001
JPY/USD 109.81  109.83  108.28 
Outstanding Shares 746,409,199 - -
Weighted Average of Shares Outstanding 746,409,199 - -
  Month End Prior Month Prior Year
No. of Vessels 136 136 135
BDI 4132 3292 1488

 

Analysis:
1.Change of Fleet:
8/6 Genius Star VIII(12005DWT/Small Handy) was sold. 8/11 Kanamu Benefit(37000DWT/Handy) joined Wisdom fleet (manage only). 2.Change in Operation: 2 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 374.76% because of a steady economic recovery from the pandemic since the second half of 2020. 6.Non-operating income: The depreciation of Japanese Yen led to USD100,000 foreign exchange gain by the exchange rate at the end of the month; The appreciation of New Taiwan Dollar led to USD500,000 foreign exchange loss by the exchange rate at the end of the month. Regonized USD200,000 loss on the vessel disposal. 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.