Financial Results as at 31 March 2022
20 May 2022

RCL is pleased to announce once again a record-breaking profit of THB 8,223 mil for Q1 2022. Despite being a slack quarter, this result was 1% higher than Q4 2021. Excluding the impairment gains, it was even higher by 13% or THB 950 mil.

The Q1 2022 profit represents a 180% growth from the same period in 2021. The volume handled grew by 11% to above 572,000 TEUs. In addition, prolonging port congestion and hence reduced global capacity led to an 86% upsurge in freight income per TEU to more than THB 25,000. These translate into a 106% increase in revenue. Compared to a peak period of Q4 2021, the income presented a 2% growth (or 13%, exclusive of impairment gains.)

As geopolitical tension intensified, crude oil prices increased tremendously, steering up the bunker prices by at least some 60% since March 2021. However, RCL has taken necessary actions to mitigate the impact while keeping service levels acceptable and still able to expand its business activities. These measures managed to contain the increases in expense to 56% over Q12021 and a mere 2% over Q4 2021 respectively, and hence produce this amazing performance for Q1 2022.

In summary, RCL has successfully managed to optimize its service networks to ensure stable revenue growth and efficiently contain the rise in expenses, while expanding its fleet and business activities for further future growth

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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 Owned Containers (COC) in a service network that is fully Asia centric. RCL currently owns and operates a fleet of 41 vessels with sizes ranging between 388 TEUs and 11,714 TEUs. It also has a fleet of 137,527 TEUs to support its own COC carriage as well. RCL operates a network of 77 offices made up of both owned and agency partner offices to support its operations. Today, RCL is recognised as amongst the leading SOC and Intra Asian operator by both peers and customers alike.

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