Orient Overseas (International) announces 2021 full year results
Orient Overseas (International) Limited (“OOIL") announced a profit attributable to equity holders of US$7,128.1 million for 2021, compared to a profit of US$902.7 million in 2020, according to the company's release.
Group Revenue of US$16,832 million
Group EBIT of US$7,398 million
Group EBITDA of US$7,967 million
Operating Cash Flow of US$8,899 million
Profit Attributable to Equity Holders of US$7,128 million
Recommended Dividend for Full Year 2021 is 70% of the Profit Attributable to Equity Holders at approximately US$4,990 million. Proposed Final Dividend of US$2.61 per ordinary share and Second Special Dividend of US$0.69 per ordinary share
Financial and Operational Highlights – Full Year 2021
Container Transport and Logistics business reported EBIT of US$7,387 million, representing an EBIT margin of approximately 44.0%.
Liner liftings grew to 7.6 million TEU.
Earnings per ordinary share in 2021 was US$11.08, whereas earnings per ordinary share in 2020 was US$1.44.
In September 2021, the Group had placed orders for ten 16,000 TEU vessels, for a total cost of US$1.576 billion, for delivery between the fourth quarter of 2024 and the fourth quarter of 2025. These vessels are added to twelve 23,000 TEU vessels that we already have under construction, for delivery during 2023-2024.
As at 31st December 2021, the Group had total liquid assets of US$7,369.6 million compared with debt obligations of US$662.0 million repayable in 2022. The Group had a net cash to equity ratio of 0.48 : 1 as at end of 2021, compared with 0.04 : 1 at the end of 2020.
OOIL owns one of the world's largest international integrated container transport businesses which trades under the name “OOCL". With around 420 offices in about 90 countries/regions, the Group is one of Hong Kong's most international businesses. OOIL is listed on The Stock Exchange of Hong Kong Limited.
