1.9 C
Sunday, February 5, 2023
Home News Japanese lines report financial results

Japanese lines report financial results

Japanese companies published third-quarter and full-year reports on 31 January, announcing their financial performance and operating results.

ONE achieved profitability for a third straight quarter, while overall containership business significantly reduced temporary costs, K Line says in its report.

K Line reports operating revenues of US$1.79 billion and US$5.21 billion and operating income of US$970,000 and US$2 million in the third quarter and in 2019, respectively.

The forecasts of operating revenues, ordinary income and net income attributable to owners of the parent company remain the same as the previous forecasts, comments K Line.

Profitability improvement for containerships is expected by reflecting profitability improvement at ONE and decrease in temporary costs. Profitability improvement for Car Carriers is expected due to the effects of route rationalisation and rate restoration efforts.

MOL recorded revenues of US$7.96 billion, an operating profit of US$22 million, and an ordinary profit of US$45 million and profits attributable to owners of the parent company of US$44 million from 1 April  2019 to 31 December 2019.

MOL Group highlighted that full-year 2019 EBITDA guidance raised slightly to around US$2.4 billion (from around US$ 2.3bn) with an unchanged capex guidance (US$1.9-2.1 billion). MOL Group adds that Net Debt/EBITDA and gearing was hardly changed in third quarter at 0.79x and 18%, respectively.

Operating Cash Flow before Working Capital declined by 16% YoY to US$1.78bn in Q1-Q3 2019, in line with the trend in reported EBITDA, comments MOL Group.

Antonis Karamalegkos
Editor, Container News

Latest Posts

Virginia Inland Port gets all operational power needs from clean-energy resources

Virginia Inland Port (VIP), an intermodal container transfer facility in Front Royal, Virginia (Warren County) owned by the Virginia Port Authority, is fulfilling all...

Kalmar, Holmen Iggesund extend cooperation agreement for three years

A three-year collaboration deal that was first signed in 2019 between Holmen Iggesund, a member of the Holmen Group, and Kalmar has been extended. The...

CMA CGM becomes official partner of Paris 2024 Olympic and Paralympic Games

The CMA CGM Group will make its expertise available to Paris 2024, by handling the transport and logistics for all the goods, equipment, and...

MSC announces temporary suspension of Beira – Zimbabwe rail service

MSC announced that the through Bill of Landing (TBL) rail service to/from Bulawayo, Harare and Mutare to/from Beira will be temporarily suspended with immediate...

Drydocks World, Aker Solutions join forces to upgrade production at UK’s Rosebank oil and gas field

A joint venture was established by DP World-owned Drydocks World and Aker Solutions to refurbish a floating production storage and offloading (FPSO) vessel for...