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FINANCIAL RESULTS FOR FY2024 2nd Quarter
OCEAN NETWORK EXPRESS released Financial Result for FY2024 2nd Quarter
SINGAPORE, 1st November 2024 – Ocean Network Express (ONE) released the financial result for FY2024 2nd Quarter (from July 2024 to September 2024).
The revenue for FY2024 2nd quarter was US$5,864million, up 65% from the same quarter of the last year, with net profit of US$1,999million (YoY +US$1,812million).
The Asia-North America and Asia-Europe trades have experienced strong demand, driven by consistent consumer demand and an early peak season in July and August. In addition, early shipments in the North America trade are in response to potential supply chain disruptions.
| FY2023 | FY2024 | 2Q Results to FY2023 | 1H Results to FY2023 | |||||
| 2Q Result |
1H Results |
2Q Results |
1H Results |
change | change (%) |
change | change (%) |
|
| Revenue | 3,549 | 7,314 | 5,864 | 10,075 | 2,315 | 65% | 2,760 | 38% |
| EBITDA | 436 | 1,206 | 2,386 | 3,603 | 1,950 | 447% | 2,397 | 199% |
| EBIT | 31 | 416 | 1,865 | 2,532 | 1,834 | 5,916% | 2,116 | 509% |
| Profit/Loss | 187 | 700 | 1,999 | 2,778 | 1,812 | 969% | 2,078 | 297% |
For the full year forecast for FY2024, net profit guidance is revised to US$3,095million from US$2,745 million which was announced on 31 July.
Jeremy Nixon, CEO of Ocean Network Express says, “In addition to the current geopolitical situation, the industry faces added uncertainty around the final outcome of the USA elections and USEC port labour situation. ONE will continue to closely monitor evolving macro conditions and maintain an agile and effective control of its global operations and customer service delivery performance. Including a successful launch of the new Premier Alliance E-W network from January”
The financial results for FY2024 2nd Quarter can be downloaded here.
About Ocean Network Express (ONE)
Ocean Network Express (ONE), headquartered in Singapore, is one of the world's leading liner shipping companies. It operates a fleet of over 240 vessels with a capacity exceeding 1.9 million TEUs. Through its extensive global network, ONE provides reliable container shipping services to over 120 countries.The company was established by integrating the container shipping businesses of Kawasaki Kisen Kaisha(“K”LINE), Mitsui O.S.K.Lines(MOL), and Nippon Yusen Kaisha(NYK).
For more information, please visit www.one-line.com