Textainer accusation a consisting generated quarterly net loss from the impact of the Hanjin crisis



The third trimester of this year negative for the chartering society has been a period decidedly weighted down Textainer container being considerable from losses of value correlated to the impact on the activity of the company of the crisis of the company of South Korean navigation Hanjin Shipping.

Textainer has closed the period July-september of the 2016 with a net loss of -45,9 million dollars respect to a profit clearly of 10,5 million dollars in the correspondent period last year. The revenues are diminished of the -11,2% attesting itself to 121,2 million dollars, of which 110,9 million dollars generated from the activity of chartering of containers (- 14.2%). The operating result has been of sign negative for -38,5 million dollars respect to an operating profit of 44,2 million dollars in the third trimester of 2015.

"Our results of the third trimester - it has confirmed the president and managing director of Textainer, Philip Brewer - negatively are influenced by various meaningful factors, most important of which it has been the request of failure of the Hanjin. We have recorded - it has specified Brewer - 22,1 million dollars of losses of value of the container to clearly of estimated insurance proceeds of 20,2 million dollars, billeting 17.1 million dollars risk to clearly to the estimated insurance proceeds of 2,6 million that, arranged with 4,8 million reduction of the revenues, have involved on the financial trimester an impact negative pairs to 44,0 million dollars (or 0,78 dollars per.share ordinary) as a result of the failure of the Hanjin". Brewer has specified that the impact of crack cocaine of the Hanjin on the economic performances of the Textainer will last and have consequences on the results of next the two or three quarterly budgets of the society.

Textainer clearly has archived item the first nine months of 2016 with a net loss of -50,3 million dollars on revenues pairs to 378,1 million dollars respect to a profit of 86,7 million dollars on revenues pairs to 414,6 million dollars in the period January-september last year. The revenues produced from the activity of chartering of the container of the fleet of the company are piled to 353,7 million dollars (- 8.7%). The operating profit has been pairs to 18,5 million dollars (- 89.4%).