2023-08-18 10:48:39
(Original Title: Orient Overseas International (00316) Announces Interim Results Profit Attributable to Shareholders of US$1.129 Billion, Down About 80% Year-on-Year, Dividend of US$0.86 Per Share)
Zhitong Finance APP news, Orient Overseas International (00316) announced its interim results for 2023, with revenue of approximately US$4.541 billion, a year-on-year decrease of 58.95%; profit attributable to shareholders of the company was approximately US$1.129 billion, a year-on-year decrease of approximately 80%; earnings per share were US$1.71 , an interim dividend of US$0.69 per share and a special dividend of US$0.17 per share.
Compared with the same period in 2022, the total volume of cargo carried on the Pacific route is reduced by 2%, and the revenue is reduced by 67%. As a result, the average revenue per TEU is reduced by 66%. Demand for container shipping services on Pacific routes has shrunk compared with the same period in 2022, despite volatile but surprisingly resilient consumer spending data. In addition, the port and yard congestion that occurred in the same period last year has almost completely eased, releasing additional effective capacity for the stressed market. As a result, excess Pacific capacity was withdrawn and redeployed to other routes in the first half of 2023 in response to an expected drop in demand, which is in line with the massive nominal capacity commitments in 2021-22, including from new market players. The situation on this route is quite different.
Compared with the same period last year, Asia
1692446565
#Orient #Overseas #International #Announces #Interim #Results #Profit #Attributable #Shareholders #US1.129 #Billion #YearonYear #Decrease #Dividend #Share #US0.86
