In the first trimester group NOL has recorded an improvement of the operating result



In the first trimester of this year the shipowning group and logistic Neptune Orient Lines (NOL) of Singapore has recorded a worsening of the economic results regarding the correspondent period of 2013 having had totaled a net loss of 96 million dollars on revenues for 2,28 billion dollars respect to a profit clearly of 77 million dollars on revenues for 2,37 billion dollars in the first three months of 2013. It is necessary but to signal that the result last year includes extraordinary proceeds for 116 million dollars generated from the cession of the building that accommodated the headquarters of the group to Singapore ( on 26 October 2012). Core EBITDA is piled to 33 million dollars regarding five million dollars in the first trimester last year, Core EBIT has been of sign negative for -65 million dollars respect to Core EBIT negative for -76 million dollars in the same period of 2013 and the EBIT has been of sign negative for -65 million dollars respect to an operating profit of 116 million dollars in the first three months last year.

In the first three months of the 2014 fleet of portacontainer of the group, that it is managed by branch APL, it has transported cargo volumes pairs to 785 thousand container from 40 ' (feu), with a progression of +2% regarding 772 thousand teu in the correspondent period last year. The medium revenue for feu has been pairs to 2.233 dollars regarding 2.376 dollars in the first three months of 2013. The segment of the transport of line of the group has generated revenues for 1,88 billion dollars (- 5%), Core EBITDA of 12 million dollars (- 14 million dollars in the first trimester 2013) and Core EBIT negative for -83 million dollars (- 92 million dollars).

The logistic division of group NOL has closed the first trimester of this year with revenues for 423 million dollars (- 1%), Core EBITDA of 21 million dollars (+11%) and Core EBIT of 18 million dollars (+13%).

"In the first trimester - it has commented the president and managing director of the group NOL, Ng Yat Chung - the operating conditions have been difficult, with intense meteorological perturbations in Europe and America North. This is aggravated by the placed challenges lasting of the excess of ability in the field of the containerized marine transport. However in this trimester both our units of business have achieved turned out operating better regarding last year. For the future, the uncertainty of the total economic perspectives and the commercial conditions will continue. The excess of offer of ability to the shipping will continue to exercise pressure on the hires in the line field. In the 2014 - Chung has explained - group it has the objective to improve own economic results through a continuous attention to the control of the costs and the increase of the operating efficiency. Moreover we will look for increase opportunity, in particular in our logistic activities".