OOIL(HK:00316)2022-09-14 08:33Financial Performance - The company achieved a record net profit attributable to shareholders of $5.664 billion in the first half of 2022, compared to $2.811 billion in the same period of 2021, representing an increase of 101%[4]. - Earnings per share for ordinary shares were $8.58, up from $4.42 in the previous year, reflecting a 94% increase[4]. - Revenue for the six months ended June 30, 2022, was $11,061,132 thousand, a 58.5% increase from $6,987,582 thousand in 2021[61]. - Operating profit for the same period was $5,745,431 thousand, up 101.5% from $2,855,006 thousand in 2021[61]. - Net profit for the six months ended June 30, 2022, was $5,664,112 thousand, compared to $2,811,056 thousand in 2021, representing a 101.5% increase[61]. - The company reported a total comprehensive income of $5,633,841 thousand for the period, compared to $2,820,474 thousand in 2021[63]. - The company reported a significant increase in profit attributable to shareholders, reaching $5,663,643 thousand in 2022, compared to $2,810,857 thousand in 2021, representing a growth of approximately 101.5%[98]. - The company paid dividends totaling $2,179,232 thousand during the first half of 2022, compared to $872,062 thousand in the same period of 2021, which is an increase of approximately 149.5%[68]. Revenue and Operational Highlights - The strong performance was driven by sustained demand in the container shipping market, despite not experiencing extreme demand or vessel shortages[4]. - In the first half of 2022, the group achieved a record semi-annual revenue with a 61% increase compared to the same period in 2021, despite a 7% decrease in overall cargo volume[14]. - The average revenue per standard container increased by 74% in the first half of 2022, driven by high freight rates due to supply chain challenges[14]. - The Pacific route saw a 14% decrease in cargo volume, but revenue increased by 78%, with average revenue per standard container rising by 106%[16]. - The Atlantic route experienced a 15% decrease in cargo volume, while revenue and average revenue per standard container increased by 70% and 101%, respectively[20]. - The Asia/Europe route maintained stable cargo volume but saw a 55% increase in revenue and a 55% rise in average revenue per standard container[19]. - Container transportation and logistics accounted for $11,049,611 thousand of the total revenue, with other income contributing $11,521 thousand[87]. Financial Position and Liquidity - The net debt to equity ratio improved to 0.65 as of June 30, 2022, compared to 0.2 on June 30, 2020, indicating a strong financial position[6]. - As of June 30, 2022, the group had total current assets of $11.1 billion and total liabilities of $2.6 billion, resulting in net cash of $8.5 billion, up from $4.7 billion at the end of the previous year[26]. - Cash and bank balances rose significantly to $10,922,473 thousand from $7,197,101 thousand, indicating a strong liquidity position[65]. - Cash and cash equivalents at the end of the period reached $8,266,910 thousand, up from $2,216,859 thousand at the end of June 2021, indicating an increase of approximately 272.5%[68]. - The company’s total assets increased to $19,912,698 thousand as of June 30, 2022, from $15,846,977 thousand at the end of 2021, representing an increase of approximately 25.9%[67]. Dividends and Shareholder Information - The board declared an interim dividend of $3.43 per ordinary share, compared to $1.76 in 2021, and a special dividend of $2.57 per ordinary share, slightly down from $2.65 in 2021[4]. - The company declared an interim dividend of $3.43 per share for the six months ended June 30, 2022, up from $1.76 per share in 2021, reflecting a growth of 95.3%[99]. - As of June 30, 2022, the total issued share capital of the company was 660,373,297 ordinary shares[39]. - Faulkner Global Holdings Limited holds 469,344,972 shares, representing 71.07% of the company's equity[45]. Strategic Initiatives and Future Outlook - The company is committed to enhancing its digital capabilities through initiatives like IQAX, GSBN, and FreightSmart, positioning itself at the forefront of industry digitalization[10]. - Future outlook remains uncertain due to inflation and rising interest rates impacting consumer spending, despite resilient demand for imported goods[7]. - The group has no new container ships delivered in the first half of 2022, but expects 12 ships with a capacity of 23,000 TEU to be delivered starting in 2023[24]. Environmental and Social Responsibility - The group has been recognized for its environmental efforts, achieving the highest level in the Green Flag Program at the Ports of Long Beach and Los Angeles[32]. - The group was included in three sustainability-related Hang Seng indices, reflecting its commitment to ESG and sustainable development[32]. - The group signed the Neptune Declaration to support seafarers' health and welfare during the COVID-19 pandemic, emphasizing its social responsibility[33]. Employee and Governance Information - The group employed 10,935 full-time employees globally, offering competitive compensation and benefits, including medical insurance and retirement plans[28]. - The company has adopted a customized corporate governance code and regularly reviews it to ensure transparency, accountability, and independence[51]. - The company’s directors and senior management have no interests in shares or debentures that require disclosure under the Securities and Futures Ordinance[44].