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Financial Results as at 30 June 2017
15 Aug 2017

2017 Q2 Financial Results (THB)

The Company recorded a profit amounting to Baht 163 million, which translated to an improvement of 189.2% as compared to the same quarter in 2016. With the improved world economy, the Company’s total revenues was Baht 2,844 million, an increase of 7% and freight rate per unit improved by 3.5%. In addition the Company achieved higher liftings of 5.4% and together with its cost control efficiency, it resulted in a 5% reduction in total expenses. A profit from its sale of containers at Baht 36 million and a gain on exchange rate at Baht 26.6 million were also added to the result. The Company recognized all above factors played a part in the Company’s impressive performance.

The total liftings was 457,407 TEUS an increase of 5.4%. Liftings for Shipper Owned Container (SOC) was 185,111 TEUS, a rise of 5.6% and Carrier Owned Container (COC) liftings clocked in 272,296 TEUS, up by 5.2%.

With regard to expenses, the Company was able to manage its cost, having achieved a reduction of 5% in total expenses in Q2/2017, despite a per ton increase of 59% in the oil price, an element of which usually formed the main bulk of the cost. In spite of that the total expenses reduced as a result of the decreased in cost of freight and operations and administrative expenses by 5% and 9.3% respectively. The Company registered a total expense of Baht 2,709 million, with the cost of freight and operations at Baht 2,436 million and administrative expenses at Baht 222 million.

Comparing the performances in Q2/2017 and Q1/2017, the Company's performance has remarkably improved by 162.4%. The figures were reflective of the Company's continual trend to improve performance, with total liftings increased by 2.7% in Q2/2017 and freight income increased by 7.8%, which resulted in a 7.6% increase in the revenues, while the cost of freight and operations decreased 7.8%. Total expenses and profit on sale of containers decreased by 7.4% and 43% respectively, whereas freight rate per unit improved 7.3% when compared to Q1/2017.

With the improved economy which consequently led to the sea's transportation recovery, higher liftings as well as the continual increased in freight rates per unit prevailed. Even though the oil price was high, the Company managed its cost and control the expenses well. The Company’s performance in 2Q/2017 was better than the same period in 2016 and also better than Q1/2017.

About RCL

Founded in 1979, RCL is a Thai based container shipping line. Listed on the Thai Stock Exchange since 1988, its core business is in the carriage of Shipper owned containers (SOC) and its own Carrier container containers (COC) in a service network that is fully Asia centric. RCL currently owns and operates a fleet of 45 vessels with sizes ranging between 200 TEUs and 6621 TEUs. It also has a fleet of 99,171 TEUs to support its own COC carriage as well. RCL operates a network of 66 offices made up of both owned and agency partner offices to support its operations. Today, RCL is recognised as amongst the leading SOC and Intra Asian operator by both peers and customers alike.

For media enquiries, please contact Michelle Ng at ph: (65)62292087 mail: michelle@rclgroup.com

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