Wisdom Marine Lines Co. Limited

07/05/2022 | Press release | Distributed by Public on 07/05/2022 00:37

June 2022 Monthly Earnings Release

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Provided by: Wisdom Marine Lines Co., Limited
SEQ_NO 1 Date of announcement 2022/07/05 Time of announcement 14:31:41
Subject
 June 2022 Monthly Earnings Release
Date of events 2022/07/05 To which item it meets paragraph 51
Statement
1.Date of occurrence of the event:2022/07/05
2.Company name:Wisdom Marine Lines Co., Ltd.
3.Relationship to the Company (please enter "head office" or
  "subsidiaries"):Head Office
4.Reciprocal shareholding ratios:Not Applicable
5.Cause of occurrence:June 2022 Monthly Earnings Release
6.Countermeasures:Announcement
7.Any other matters that need to be specified:
Monthly Revenue:              USD 86,991,007 TWD   2,577,717(in thousands)
YoY % Change    60.63%
Year-to-Date Revenue:         USD464,127,160 TWD  13,333,445(in thousands)
YoY % Change    64.94%
Monthly Operating Income:     USD 49,408,581 TWD   1,464,074(in thousands)
YoY % Change   111.20%
Year-to-Date Operating Income:USD246,186,039 TWD   7,072,433(in thousands)
YoY % Change   154.39%
Monthly Net Income
before Income Tax Expense:    USD 54,444,473 TWD   1,613,299(in thousands)
YoY % Change   170.06%
Year-to-Date Net Income
before Income Tax Expense:    USD241,859,856 TWD   6,948,150(in thousands)
YoY % Change   175.13%
Monthly Pre-tax EPS:       2.16
Year-to-Date Pre-tax EPS:  9.31

Basis for Computation:
                              Month End   Monthly Average   Annual Average
TWD/USD                       29.725        29.632          28.728
JPY/USD                       136.22        134.04       123.03
Outstanding Shares           746,409,199         -               -
Weighted Average of
Shares Outstanding           746,409,199         -               -
                               Month End    Prior Month       Prior Year
No. of Vessels                   141            140              136
BDI                             2240           2566             3383
Analysis:
1.Change of Fleet:
6/24 Sakizaya Zest(Panamax/82300DWT) joined Wisdom fleet.
2.Change in Operation: 3 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: 2 vessels renewal of contracts.
5.Operating Income: Operating income increased 111.20% 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
USD3,200,000 foreign exchange gain by the exchange rate at the end of the
month; The depreciation of New Taiwan Dollar led to USD4,300,000 foreign
exchange gain by the exchange rate at the end of the month.
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.