Home > News Archive > Financial Results as at 30 September 2017
Financial Results as at 30 September 2017
10 Nov 2017

2017 Q3 Financial Results (THB)

Driven by higher freight rates and tight cost control, the Group's results for Q3/2017 were boosted, as it hit the highest note for the year so far. Against this backdrop, RCL saw stronger demand for shipments of both industrial, capital goods, intermediate goods and various agricultural commodities in Q3/2017.

The Group registered a net profit of THB 241.7 million for the quarter, which was a 153% recovery as compared to the same quarter of 2016 and a 48.4% improvement over Q2/2017.

Despite the two major constraints faced by the shipping industry as below, RCL still recorded its highest weekly volumes for the year in Q3/2017:

• The Imposition of strict environmental control by China's central government

• The introduction of Goods & Services Tax (GST) in India

RCL with its Asia centric network was a beneficiary of a robust Asian growth in the Third quarter. RCL's COC & SOC liftings grew by 6.6% and 3% respectively in Q3/2017 when compared to Q3/2016. COC also rose 6.6%, whilst SOC saw a 4.9% increase when compared to Q2/2017. In total, liftings of both products achieved for Q3/2017 was 484,571 TEUs which is equivalent to a growth of 5.1% against the same period last year and 5.9% against last quarter.

The growth in both COC and SOC volume has predominately contributed to the improvement in Q3/2017's average freight rate per TEU by 14.5% against Q3/2016 and was slightly better than Q2/2017 by 2.2%. Freight income therefore was THB 2,930 million, up by 15.7% when compared to Q3/2016 and was 5.6% above Q2/2017.

Total income rose by THB 374.7 million, a jump of 14.6% at THB 2,939 million compared to Q3/2016. This was a 3.3% improvement when compared to Q2/2017.

Despite a significant increase of 25.5% in bunker price when compared to Q3/2016, Cost of Freight and Operations was well managed in most aspects and was down by 11% at THB 2,448 million due to stringent measures.

With tighter cost control and efficiency attained in Q3/2017, Administration cost was also reduced by 6.5%, when compared to Q3/2016 and was 1.2% higher than Q2/2017. Correspondingly, RCL's total expenses of THB 2,722 million was translated to a 10.2% reduction vis-à-vis Q3/2016 and was higher 0.5% when compared to Q2/2017.

The robust net profit of THB 241.7 million achieved in Q3/2017 was largely attributed to cost cutting measures and improvement in productivity across all departments. Along with the agility to adapt to changes in the market situation, RCL has turned around from a loss in Q3/2016 to a profit in Q3/2017.





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 46 vessels with sizes ranging between 500 TEUs to 3316 TEUs. It also has a fleet of 71,723 TEUs to support its own COC carriage as well. RCL operates a network of 64 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

Copyright 2011 Regional Container Lines. All rights reserved.
Terms of Use  |  Privacy Policy  | This website is best viewed with IE 8.x and above.