News

September 2021 Monthly Earnings Release

Wisdom Marine Lines Co., Limited
September 2021 Monthly Earnings Release
  USD TWD(in thousands)
YoY% Change
Monthly Revenue 61,655,033 1,709,077 76.65%
Year-to-Date Revenue 464,169,050 12,982,344 59.94%
Monthly Operating Income 29,075,160 805,964 390.93%
Year-to-Date Operating Income 180,719,357 5,054,541 529.59%
Monthly Net Income before
Income Tax Expense
48,370,262 1,340,824 3751.36%
Year-to-Date Net Income
before Income Tax Expense
183,894,998 5,143,359 1915.76%
Monthly Pre-tax EPS - 1.80 -
Year-to-Date Pre-tax EPS - 6.89 -

 

Basis for Computation:
 
Month End
Monthly Average
Annual Average
TWD/USD 27.85 27.720 27.969
JPY/USD 111.87  110.20  108.50 
Outstanding Shares 746,409,199 - -
Weighted Average of Shares Outstanding 746,409,199 - -
  Month End Prior Month Prior Year
No. of Vessels 134 136 136
BDI 5167 4132 1725

 

Analysis:
1.Change of Fleet:
9/22 Timu(17224DWT/Small Handy) was sold. 9/30 Beagle ll(17224DWT/Small Handy) was sold. 2.Change in Operation: 5 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: 7 vessels renewal of contracts. 5.Operating Income: Operating income increased 390.93% 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 USD900,000 foreign exchange gain by the exchange rate at the end of the month; The depreciation of New Taiwan Dollar led to USD100,000 foreign exchange gain by the exchange rate at the end of the month. Recognized USD1,000,000 gain on the vessel disposal. Recognized USD20,000,000 gain on the compensation from early termination of the 2 vessels’ time-charter contracts. 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.