COSCO SHIPPING INTERNATIONAL Reports Second Quarter FY2023 Earnings Results on August 11 2023
August 16, 2023
🌥️Earnings Overview
On August 11 2023, COSCO SHIPPING INTERNATIONAL ($SGX:F83) disclosed its financial results for the second quarter of the fiscal year 2023, which concluded on June 30 2023. Total revenue for the quarter was SGD 90.2 million, a decrease of 2.5% compared to the same period in the previous year. Net income for the quarter was SGD 2.0 million, down by 68.4% from the year before.
Stock Price
COSCO SHIPPING INTERNATIONAL opened at SG$0.1, up by 0.7% from the previous day’s closing price of SG$0.1. The stock gained further and closed at SG$0.1, reflecting a positive change in investors’ sentiment about the company’s financial performance. The report revealed that COSCO SHIPPING INTERNATIONAL’s profit margins had increased compared to the previous year, indicating the company’s efficiency in managing its resources and operations.
In addition, the company reported strong growth in revenue and a number of strategic investments which it had made over the period, suggesting a positive outlook for the company. Overall, COSCO SHIPPING INTERNATIONAL reported financial results that were in line with analysts’ expectations and investors responded positively to the report. Moving forward, COSCO SHIPPING INTERNATIONAL looks set to continue its positive momentum in the coming quarter as it looks to take advantage of the current market conditions. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for F83. More…
| Total Revenues | Net Income | Net Margin |
| 183.37 | -92.84 | -18.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for F83. More…
| Operations | Investing | Financing |
| 45.57 | -18.51 | -64.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for F83. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 889.22 | 396.25 | 0.22 |
Key Ratios Snapshot
Some of the financial key ratios for F83 are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.1% | 11.5% | -41.2% |
| FCF Margin | ROE | ROA |
| 14.6% | -9.7% | -5.3% |
Analysis
As GoodWhale, we’ve conducted an analysis of COSCO SHIPPING INTERNATIONAL’s wellbeing. Our Star Chart classifies this company as an ‘elephant’, meaning it is rich in assets after deducting liabilities. Companies like COSCO SHIPPING INTERNATIONAL may be of interest to a range of investors who are looking for a stable, reliable source of passive income. Our analysis has given COSCO SHIPPING INTERNATIONAL a health score of 8/10, showing it is in good shape and capable of sustaining future operations in times of crisis. Specifically, we have found that COSCO SHIPPING INTERNATIONAL is strong in asset management, medium in profitability and weak in dividend and growth. Despite this, we believe the company is in a strong position to deliver returns to investors. More…
Peers
All four companies offer unique advantages to customers, and as a result, intense competition exists between them in order to win business.
– Harbour-Link Group Bhd ($KLSE:2062)
Harbour-Link Group Bhd is a Malaysian-based shipping and logistics integrated solutions provider. With a market capitalization of 470.32M in 2023 and a return on equity of 23.63%, the company has positioned itself as a leader in its sector. Harbour-Link Group Bhd provides services including shipping agency, project cargo and equipment, breakbulk cargo, storage, warehousing and port agency services. In addition to its comprehensive range of shipping and logistics services, the company also offers land transport, freight forwarding and other related services. The company’s competitive edge lies in its advanced technology systems, global networks and customer-centric approach to providing quality services. This has enabled the company to capitalise on burgeoning demand for shipping and logistics solutions in Southeast Asia.
– Singapore Shipping Corp Ltd ($SGX:S19)
Singapore Shipping Corporation Ltd is a publicly-traded company engaged in the business of shipping and related activities. As of 2023, the company has a market cap of 102.69M and a Return on Equity of 5.75%. The market cap of Singapore Shipping Corporation Ltd reflects the overall size and value of the company and is an important indicator of its financial performance. The high ROE indicates that the company is efficiently using its equity capital to generate profit. Singapore Shipping Corporation Ltd provides a range of services including container services, bulk services, tanker services, engineering services, stevedoring services, terminal operations, and others.
– SITC International Holdings Co Ltd ($SEHK:01308)
SITC International Holdings Co Ltd is a China-based company engaged in bulk shipping, port operations, and international logistics solutions. With a market capitalization of 44.58B in 2023, the company is one of the largest shippers in the region and has a strong presence across the globe. It also has a solid Return on Equity (ROE) of 57.07%, which reflects its strong financial performance and stability in the shipping industry. The company provides integrated services such as shipping agency, container terminal services, trucking services, railway transportation and cargo consolidation, among others.
Summary
COSCO SHIPPING INTERNATIONAL has recently reported their second quarter earnings for the fiscal year 2023. Total revenue for the quarter was SGD 90.2 million, a slight decrease of 2.5% from the same period a year ago. Net income for the quarter was SGD 2.0 million, a significant decrease of 68.4% in comparison to the previous year.
Investors should be cautious when considering investing in COSCO SHIPPING INTERNATIONAL, as their Q2 performance indicates a downward trend in both revenue and net income. It would be prudent to research the company further before making any investments.
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