Financial Results as at 30 September 2018
9 Nov 2018

During this current competitive environment, RCL's total liftings for 3Q 2018 fared 4.6% better than that of last quarter's and recorded a 6.9% improvement year-on-year. With the improvement in liftings, freight income was up by 7.7% from 2Q 2018 and was 4.1% higher when compared to its corresponding quarter of the previous year. Total revenue inched up to THB 3,091 million, a 5.2% year-on-year rise, or a 5.7% upswing in comparison with the previous quarter of THB 2,923 million, despite a quarter-to-quarter drop of 26.5% in gain on sale of assets.

In tandem with the increase in volume achieved and the unusually high bunker prices caused by the on-going trade war, uncertainty, and the severe impact of typhoon in China, RCL's total expenses went up by 18% when compared to the same quarter last year. The spike was lesser at 7.3% on a quarter-to-quarter basis. The cost of freight and operations in 3Q 2018 jumped 18.9% higher than the corresponding period of 2017 and hiked up 7.3% compared to its previous quarter. A 51.3% surge in bunker cost for 3Q 2018 vis-à-vis 3Q 2017, was the main contributing factor to the increase in total expenses. On a quarter-to-quarter basis, the bunker cost ascended 11.9%

With escalating bunker cost consequentially impacted RCL's bottom line, it slipped into unfavourable territory posting a net loss of THB 93 million for 3Q 2018 versus a net profit of THB 242 million in 3Q 2017 and recorded a drop of 116.3%, when compared to previous quarter.

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About RCL
Founded in 1979, RCL is a Thai based container shipping line. Listed on the Thai Stock Exchange since 1988, its core business is in the carriage of Shipper owned containers (SOC) and its own Carrier container containers (COC) in a service network that is fully Asia centric. RCL currently owns and operates a fleet of 43 vessels with sizes ranging between 500 TEUs to 3316 TEUs. It also has a fleet of 86,565 TEUs to support its own COC carriage as well. RCL operates a network of 61 offices made up of both owned and agency partner offices to support its operations. Today, RCL is recognized as amongst the leading SOC and Intra Asian operator by both peers and customers alike.

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