Financial Results as at 31 March 2019
10 May 2019

Amidst the competitive and volatile trade environment, RCL was still able to achieve in 5.8% higher in total liftings of 557,573 Teus for 1Q 2019, better than that of 1Q 2018. Along with this, freight income was up 3.6% vis-a-vis 1Q 2018.

Total revenue rose 4% year-on-year to THB 4,244 Mil, coupled with a favourable 58.4% year-on-year gain on sale of assets and a gain in exchange of THB14.6 Mil versus THB 3.38 Mil, despite a 2.26% drop in the freight rates per unit.

In tandem with the increase in volume achieved and despite the persistently high bunker prices caused by the on-going trade war and uncertainties, RCL managed to maintain its year-on-year total expenses reasonably well at THB 4,293 Mil, a decrease of 0.3%. Total expenses comprising cost of freight & operation and administration cost, registered a lower figure by THB 47 Mil (1.2%) and higher by THB 5.8 Mil (2.6%) respectively, when compared to 1Q 2018. Similar others in the same industry, RCL faced a spike in its bunker cost which resulted in a year-on-year increase of 13.1%, thus contributing to lesser than expected performance.

All in all, because of the said reasons, RCL Group reported a net loss of THB 28 Mil for 1Q 2019, which was notably still a substantial improvement when compared to the net loss of THB 191 Mil in 1Q 2018.

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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 200 TEUs and 6621 TEUs. It also has a fleet of 110,911 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.

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