Financial Performance - Revenue slightly decreased by 0.5% year-on-year to $328,027,000, despite the decline in throughput from controlled terminals, gross profit increased by 11.2% to $89,929,000 due to effective cost management[3] - Profit attributable to equity holders decreased by 17.9% year-on-year to $62,515,000, primarily impacted by a 16.4% decline in profits from joint ventures and associates to $69,001,000[2] - Basic earnings per share decreased by 20.9% to 1.82 cents, compared to 2.30 cents in the same period last year[3] Throughput Analysis - Total throughput remained stable year-on-year at 30,305,420 TEUs, with a decline of 11.1% in throughput from controlled terminals to 6,654,729 TEUs, while non-controlled terminals saw an increase of 3.7% to 23,650,691 TEUs[2] - The throughput of the group's controlled terminals decreased by 11.1% year-on-year to 6,654,729 TEUs, down from 7,487,432 TEUs in the same period of 2022, accounting for 22.0% of total throughput[10] - Non-controlled terminals saw a year-on-year increase of 3.7% in throughput, reaching 23,650,691 TEUs, compared to 22,804,156 TEUs in the same period of 2022[10] - The equity throughput for the group decreased by 2.5% year-on-year to 9,609,708 TEUs, down from 9,859,095 TEUs in the same period of 2022[10] - The total throughput for the overseas segment decreased by 1.5% to 7,654,634 TEUs, with notable declines in some terminals[19] - The total throughput for reefer terminals decreased by 2.1% to 90,150 pallets compared to the same period in 2022[20] - The overall throughput for the first quarter of 2023 was 30,305,420 TEUs, showing a slight increase of 0.0% compared to 30,291,588 TEUs in the same period last year[19] Asset and Liability Overview - Non-current assets increased to $10,299,235,000 as of March 31, 2023, compared to $9,959,472,000 as of December 31, 2022[4] - Total assets rose to $11,564,759,000 from $11,326,353,000, reflecting a growth in both current and non-current assets[5] - Total liabilities increased to $4,869,831,000 from $4,687,180,000, with current liabilities rising significantly[5] Strategic Focus - The company plans to continue quarterly financial disclosures to enhance transparency and accountability[1] - The company is focusing on cost control and operational efficiency to mitigate the impact of declining throughput on profitability[2] - The company aims to strengthen its global port network and expand its scale, focusing on investment opportunities in emerging and regional markets[18] - The company plans to enhance operational efficiency and cost reduction strategies to improve profitability and achieve sustainable development[18] - The company is committed to achieving a customer-centric approach to become a leading integrated port operator globally[18] Market Insights - In China, total terminal throughput increased by 0.6% year-on-year to 22,650,786 TEUs, representing 74.7% of the group's total throughput[11] - The Bohai Rim region's total throughput rose by 10.6% year-on-year to 10,554,580 TEUs, accounting for 34.8% of the group's total throughput[12] - The Yangtze River Delta region experienced a decline in total throughput of 6.3% year-on-year, totaling 3,333,179 TEUs, which is 11.0% of the group's total throughput[13] - The Southeast Coast and other regions saw a significant decline in total throughput of 20.6% year-on-year, reaching 1,260,014 TEUs, accounting for 4.2% of the group's total throughput[14] - The Pearl River Delta region's total throughput decreased by 8.4% year-on-year to 5,891,113 TEUs, representing 19.4% of the group's total throughput[15] - The overseas region's total throughput slightly decreased by 1.5% year-on-year to 7,654,634 TEUs, accounting for 25.3% of the group's total throughput[17] - The Southwest Coastal region's throughput rose by 14.7% to 1,611,900 TEUs, benefiting from increased trade activities with Southeast Asia[19] - The company anticipates a gradual recovery in the domestic and foreign trade markets as China's economy stabilizes[18]
中远海运港口(01199) - 2023 Q1 - 季度业绩