JINHUI SHIPPING
AND TRANSPORTATION LIMITED
Q1 2022 Results Presentation
31 May 2022
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Disclaimer
- This presentation may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including the Company’ management’s examination of historical operating trends. Although the Company believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties which are difficult or impossible to predict and are beyond its control, the Company cannot give assurance that it will achieve or accomplish these expectations, beliefs or targets.
- Key risk factors that could cause actual results to differ materially from those discussed in this presentation will include but not limited to the way world economies, currencies and interest rate environment may evolve going forward, general market conditions including fluctuations in charter rates and vessel values, financial market conditions including fluctuations in marketable securities value, counterparty risk, changes in demand in the dry bulk market, changes in operating expenses including bunker prices, crewing costs, drydocking and insurance costs, availability of financing and refinancing, inability to obtain restructuring or rescheduling of indebtedness from lenders in liquidity trough, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents, piracy or political events, and other important factors described from time to time in the reports filed by the Company.
Highlights
Q1 2022 Financial Highlights
- Revenue for the quarter: US$33 million
- Net profit for the quarter: US$19 million included net gain on disposal of two motor vessels of US$6 million
- EBITDA: US$28 million
- Basic earnings per share: US$0.174
- Gearing ratio as at 31 March 2022: 4%
Highlights
Consolidated net profit of US$19 million for current quarter mainly due to:
- Chartering revenue increase 102% to US$33 million, due to rebound of market dry bulk freight rates and increase of number of owned vessels as compared to last corresponding quarter;
- Average TCE in Q1 2022 significantly stronger than Q1 2021, increase 70% to US%17,510;
- Reported TCE for Post-Panamax fleet and Supramax fleet of US$22,288 and US$16,997 respectively in the Q1 2022;
- Two Supramaxes were disposed at consideration of US$17.8 million and were delivered to the purchasers during the quarter; recognized a total gain of US$6.1 million;
- Net gain of US$4.6 million on bunker was recognized during the quarter as
compared to US$1.4 million in last corresponding quarter;
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Highlights
- Net gain of US$2.6 million was recognized in current quarter on financial assets at fair value through profit or loss, as compared to net gain of US$0.2 million from last corresponding quarter;
- During the quarter, the Group drawn new secured bank loan of US$15.4 million and repaid US$13 million;
- CAPEX of US$42 million, of which US$34.5 million was paid for two Surpramaxes which were delivered during the quarter, and US$7.5 million for dry docking and BWTS;
- Contract to acquire a 2014-built Supramax at consideration of US$25.5 million in Q1 2022 which is expected to be delivered in July 2022;
- After reporting date, the Group entered into a charterparty for leasing a newly 2022-built Panamax for seven years, increase the carrying capacity of our fleet profile with minimal immediate capital expenditure.
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Disclaimer
Jinhui Shipping and Transportation Limited published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 07:09:07 UTC.
Publicnow 2022
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Technical analysis trends JINHUI SHIPPING AND TRANSPORTATION LIMITED
Short Term | Mid-Term | Long Term | |
Trends | Bullish | Bullish | Bullish |
Income Statement Evolution
Mean consensus | – |
Number of Analysts | 0 |
Last Close Price | 16,46 |
Average target price | |
Spread / Average Target | – |