Royal Nedlloyd Second Quarter Net Result EUR - 5 Mln.Business Editors ROTTERDAM Rotterdam, city, Netherlands Rotterdam (rŏt`ərdăm', Dutch rôtərdäm`), city (1994 pop. 598,521), South Holland prov., W Netherlands, on the Nieuwe Maas (New Meuse) River near its mouth on the North Sea. , The Netherlands--(BUSINESS WIRE)--Aug. 14, 2003 Royal Nedlloyd HIGHLIGHTS SECOND QUARTER 2003 -- Nedlloyd second quarter net result EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. -5 mln (first quarter 2003: EUR -36 mln) -- P&O Nedlloyd operating result of US $ 11 mln (first quarter 2003: US $ -57 mln) -- P&O Nedlloyd average revenue rate per TEU TEU Twenty-Foot Equivalent Units (intermodal shipping container) TEU Technical Escort Unit TEU Technical Escort Unit (Army) TEU Tactical Enforcement Unit TEU Treaty of European Union US $ 54 higher than the first quarter of 2003 -- Martinair Martinair is an airline based in Amsterdam, the Netherlands. It operates passenger and cargo services to over 50 destinations worldwide, of which more than 20 are in the Mediterranean area. net result: EUR -1 mln (first quarter 2003: EUR -7 mln) -- Earnings per share EUR -0.23 (first quarter 2003: EUR -1.69) RESULT In the second quarter of 2003 Nedlloyd achieved a net result of EUR -5 mln; an improvement of EUR 31 mln compared to the first quarter of 2003 (net result second quarter 2002: EUR -37 mln). The share in the result of both non-consolidated participations P&O Nedlloyd and Martinair together amounted to EUR -4 mln (first quarter 2003: EUR -36 mln, second quarter 2002: EUR -37 mln). JOINT VENTURE P&O NEDLLOYD P&O Nedlloyd's second quarter operating result of US $ 11 mln (before restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). costs of US $ 4 mln) represented a US $ 57 mln year-on-year improvement and a US $ 68 mln improvement compared to the first quarter of 2003. In the second quarter P&O Nedlloyd carried 933,200 TEUs, 4% more than in the second quarter of 2002 (899,100 TEUs). This represents an increase of 6% compared to the first quarter of 2003 (881,400 TEUs). The average revenue rate per TEU increased 5% from US $ 1,196 in the first quarter 2003 to US $ 1,250 in the second quarter of 2003. Compared to the second quarter of 2002 (US $ 1,131) this represents an increase of 11%. The rate recovery occurred mainly in the Europe-Asia trades. The increase of the average revenue rate per TEU has been assisted by higher bunker bunk, bunker large storage bin. bunk forage forage, usually ensilage stored in a large storage bunk and made available to cattle or other livestock along a face of the storage. surcharges and an increase of the Euro/Dollar exchange rate. The considerable increase in average revenue was the main contributor to the improvement of the results. Operational costs increased due to higher bunkers and the stronger Euro. At the end of the second quarter, P&O Nedlloyd has achieved US $ 300 mln in annualised cost savings. The difficult trading conditions, in particular in the trades to Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Inter To cross over boundaries; for example, internetwork means from one network to another. Contrast with intra. Asia negatively impacted volume growth. Nedlloyd's share in the result of P&O Nedlloyd of EUR -4 mln signified sig·ni·fied n. Linguistics The concept that a signifier denotes. [Translation of French signifié, past participle of signifier, to signify.] Noun 1. an improvement of EUR 28 mln compared to the first quarter of 2003 and EUR 31 mln compared to the second quarter of 2002. (Please refer to today's press release issued separately on P&O Nedlloyd for additional information). MARTINAIR Martinair's net result in the second quarter amounted to EUR -1 mln, an improvement of EUR 6 mln over the first quarter of 2003 (net result second quarter 2002: EUR -4 mln). Both cargo and passenger activities contributed to the result. Nedlloyd's share in the result of Martinair in the second quarter was break-even, an improvement of EUR 4 mln compared to the first quarter of 2003 and an improvement of EUR 2 mln compared to the second quarter of 2002. OUTLOOK Developments during the second quarter give us confidence that the results of the container (1) Software that acts as a parent program to hold and execute a set of commands or to run other software routines. (2) A data structure that holds one or more different types of data. See metafile and OLE. shipping activities will continue to significantly improve in the second half of the year. Our confidence is based on the expected volume growth and the ongoing recovery in freight rates Noun 1. freight rate - the charge for transporting something by common carrier; "we pay the freight"; "the freight rate is usually cheaper" freightage, freight , although the strong Euro, the high bunker prices and the higher charter rates will continue to increase some operating costs operating costs npl → gastos mpl operacionales . Unforeseen circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or have not been taken into account. Note on behalf of the editors: Royal Nedlloyd is an international logistics The negotiating, planning, and implementation of supporting logistic arrangements between nations, their forces, and agencies. It includes furnishing logistic support (major end items, materiel, and/or services) to, or receiving logistic support from, one or more friendly foreign services company with 50% interests in both P&O Nedlloyd and Martinair airline company.
ROYAL NEDLLOYD N.V.
CONSOLIDATED PROFIT AND LOSS ACCOUNT
2003 2002 2003 2002
(x EUR 1 million) 2nd 2nd 1st 1st
quarter quarter half year half year
------- ------- --------- ---------
Share in result non-consolidated
participations
- P&O Nedlloyd -4 -35 -36 -84
- Martinair 0 -2 -4 -3
-------------------------------------
-4 -37 -40 -87
Corporate overheads and other
activities -1 -1 -2 -2
Interest income minus expenses 0 1 1 2
-------------------------------------
Result on ordinary activities
before taxation -5 -37 -41 -87
Taxation 0 0 0 0
-------------------------------------
Net result -5 -37 -41 -87
========== =====================================
Average number of outstanding
ordinary shares (x 1,000) 21,323 21,323 21,323 21,230
In euros per outstanding ordinary
share:
- Net result -0.23 -1.74 -1.92 -4.10
- Result on ordinary activities
before taxation -0.23 -1.74 -1.92 -4.10
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CONSOLIDATED BALANCE SHEET
(x EUR 1 million) 30-6-2003 31-12-2002
--------- -----------
Fixed assets 644 727
Current assets 7 6
Cash and bank balances 79 106
---------- -----------
Total assets 730 839
Shareholders' equity 679 784
Provisions 40 44
Short-term liabilities 11 11
---------- -----------
Total liabilities 730 839
================= ========== ===========
Number of outstanding ordinary shares (x 1,000) 21,323 21,323
In euros per outstanding ordinary share:
- Shareholders' equity 31.84 36.77
Shareholders' equity
Position 31-12-2002 784
Exchange differences -42
Dividend 2002 -22
Net result -41
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Position 30-06-2003 679
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Figures unaudited |
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