 Il gruppo Sea Containers, che opera nei settori del trasporto merci e passeggeri, del noleggio container e del turismo, ha chiuso il terzo trimestre di quest'anno con un utile netto di 17,9 milioni di dollari su un ricavo di 547 milioni di dollari, contro rispettivamente 6,6 milioni di dollari e 356 milioni di dollari nel corrispondente periodo del 2001.
Nei primi nove mesi del 2002 l'utile netto è stato di 27,9 milioni di dollari su un ricavo di 1,23 miliardi di dollari, contro rispettivamente 13,6 milioni e 974 milioni nei primi nove mesi dello scorso anno.
Nel terzo trimestre di quest'anno la filiale di trasporto ferroviario Great North Eastern Railway (GNER) ha registrato un utile operativo di 19,4 milioni di dollari, contro 15,1 milioni nel periodo luglio-settembre del 2001.
L'utile operativo della filiale marittima Silja Oyj Abp, di cui ora Sea Containers detiene il 100% del capitale, è stato di 19,3 milioni di dollari, contro 10 milioni nel terzo trimestre dello scorso anno, quando Sea Container deteneva solo il 50% della società.
Le altre attività di trasporto marittimo passeggeri (Isle of Man Steam Packet Company, Hoverspeed nel canale della Manica, SeaStreak a New York e la joint venture con la SNAV in Adriatico) hanno riportato incrementi, con l'eccezione dei servizi da Belfast.
La joint venture di noleggio container GE SeaCo ha chiuso il terzo trimestre 2002 con un utile operativo di 5,2 milioni di dollari, contro 4,5 milioni nel terzo trimestre dello scorso anno. Sea Containers ha tuttavia precisato oggi che l'utile operativo relativo alla gestione della flotta container, dei depositi e degli stabilimenti di proprietà del gruppo è calato dai 2,9 milioni di dollari del terzo trimestre 2001 a 1,5 milioni di dollari nel terzo trimestre di quest'anno. Nonostante la considerevole crescita della domanda di container, l'incremento dei costi di trasporto dei container nelle aree dove venivano richiesti e l'aumento dei costi di riparazione dei container ha infatti ridotto i profitti. Alla fine dei primi nove mesi di quest'anno il 98% della flotta di container di GE SeaCo risultava in noleggio, contro il 95% all'inizio del 2002.
La filiale Orient-Express Hotels ha infine archiviato il terzo trimestre di quest'anno con un utile operativo di 15,8 milioni di dollari, contro 13,5 milioni nel terzo trimestre del 2001.
Sea Containers Ltd. and subsidiaries
Summary of operating results (unaudited)
(Source: Sea Containers)
| | Three months ended September 30, |
| | 2002 | 2001
|
| Revenue: | | |
| Passenger transport operations | $429,865,000 | $253,478,000 |
| Leisure operations | 83,088,000 | 67,953,000 |
| Container operations | 29,421,000 | 32,101,000 |
| Other | 4,892,000 | 2,751,000
|
| | | |
| Total revenue | $547,266,000
| $356,283,000 |
| Earnings before finance costs: |
| |
| Passenger transport operations: |
| |
| Silja* | $ 19,304,000 | $ 9,953,000 |
| Rail | 19,368,000 | 15,075,000 |
| Other | 6,503,000 | 7,142,000
|
| | 45,175,000 | 32,170,000
|
| | | |
| Leisure operations | 15,791,000 | 13,525,000 |
| | | |
| Container operations: | |
|
| GeSeaCo | 5,213,000 | 4,495,000 |
| Other | 1,510,000 | 2,934,000
|
| | 6,723,000 | 7,429,000
|
Other, including property, publishing
and plantations | 238,000 | 99,000
|
| | 67,927,000 | 53,223,000 |
| Corporate costs | (3,907,000) | (3,145,000) |
| Net finance costs** | (33,174,000) | (34,517,000) |
| | | |
Earnings before minority interests, tax
and extraordinary item | 30,846,000 | 15,561,000 |
| | | |
| Minority interests | (3,827,000) | (2,775,000) |
| | | |
| Earnings before tax and extraordinary item | 27,019,000 | 12,786,000 |
| | | |
| Provision for income taxes | 8,863,000
| 8,100,000 |
| | | |
| Earnings before extraordinary item | 18,156,000 | 4,686,000 |
Extraordinary item:
Gain on retirement of debt | - | 2,141,000
|
| Net earnings | 18,156,000 | 6,827,000 |
| | | |
| Preferred share dividends | (272,000) | (272,000) |
| | | |
| Net earnings on class A and class B common shares | $ 17,884,000 | $ 6,555,000
|
| | | |
| Net earnings per class A and class B common share: | | |
| Basic: | |
|
| Earnings before extraordinary item | $ 0.85 | $ 0.24 |
| Extraordinary item | -
| 0.11 |
| Net earnings | $ 0.85
| $ 0.35 |
| Diluted: | |
|
| Earnings before extraordinary item | $ 0.84 | $ 0.24 |
| Extraordinary item | -
| 0.11 |
| Net earnings | $ 0.84
| $ 0.35 |
| | | |
Weighted average number of class A and B
common shares: | | |
| Basic | 21,013,606 | 18,530,406
|
| Diluted | 21,509,751
| 19,009,236 |
| | | |
* Includes 50% of Silja for 2001 but 100% for 2002. A majority shareholding was acquired on May 1, 2002 and the company has been 100% consolidated from that date.
** Includes SCL's share of interest charged in the GE SeaCo operations of $1,307,000 (2001 - $1,563,000). SCL's share of Silja's interest in 2001 prior to consolidation of $3,229,000 is also included.
|
Summary of operating results (unaudited)
| Nine months ended September 30, |
| | 2002 | 2001
|
| Revenue: | |
|
| Passenger transport operations | $ 902,078,000 | $662,195,000* |
| Leisure operations | 215,852,000 | 202,561,000 |
| Container operations | 90,256,000 | 100,668,000 |
| Other** | 20,958,000
| 8,560,000 |
| | |
|
| Total revenue | $1,229,144,000
| $973,984,000 |
| | |
|
| Earnings/(losses) before finance costs: |
| |
| Passenger transport operations: |
| |
| Silja *** | $ 39,384,000 | $ 19,881,000 |
| Rail | 44,258,000 | 33,784,000 |
| Other | 2,888,000
| 17,023,000* |
| | 86,530,000
| 70,688,000 |
| | |
|
| Leisure operations | 39,027,000 | 44,955,000 |
| | |
|
| Container operations: |
| |
| GeSeaCo | 14,065,000 | 13,051,000 |
| Other | 4,623,000
| 13,850,000 |
| | 18,688,000
| 26,901,000 |
Other, including property, publishing
and plantations** | 7,068,000 | (27,000) |
| | 151,313,000 | 142,517,000 |
| Corporate costs | (11,155,000) | (9,750,000) |
| Net finance costs**** | (94,905,000) | (105,596,000) |
| | |
|
Earnings before minority interests tax
and extraordinary item | 45,253,000 | 27,171,000 |
| | |
|
| Minority interests | (10,958,000) | (9,919,000) |
| | |
|
| Earnings before tax and extraordinary item | 34,295,000 | 17,252,000 |
| | |
|
| Provision for income taxes | 5,580,000
| 4,965,000 |
| | |
|
| Earnings before extraordinary item | 28,715,000 | 12,287,000 |
Extraordinary item:
Gain on retirement of debt | - | 2,141,000
|
| Net earnings | 28,715,000 | 14,428,000 |
| | |
|
| Preferred share dividends | (816,000) | (816,000) |
| | |
|
| Net earnings on class A and class B common shares | $ 27,899,000 | $ 13,612,000
|
| | |
|
| Net earnings per class A and class B common share: | | |
| Basic: | |
|
| Earnings before extraordinary item | $ 1.40 | $ 0.62 |
| Extraordinary item | -
| 0.11 |
| Net earnings | $ 1.40
| $ 0.73 |
| Diluted: | |
|
| Earnings before extraordinary item | $ 1.40 | $ 0.62 |
| Extraordinary item | -
| 0.11 |
| Net earnings | $ 1.40
| $ 0.73 |
Weighted average number of class A and B
common shares: | | |
| Basic | 19,922,382
| 18,529,354 |
| Diluted | 20,425,242
| 19,009,279 |
* Includes gains of $20,167,000 on sale of port assets.
** Includes gains of $6,523,000 (2001 - $551,000) on the sale by SCL of shares in its subsidiary Orient-Express Hotels Ltd.
*** Includes 50% of Silja for 2001 and the four months through April 2002 but 100% from May 1, 2002 when a majority shareholding was acquired and the company was consolidated.
**** Includes SCL's share of interest charged in the GE SeaCo operations of $3,492,000 (2001 - $5,289,000). SCL's share of Silja's interest prior to consolidation of $3,202,000 (2001 - $9,262,000) is also included.
|
Summary of operating results (unaudited)
| | September 30,
2002
| December 31,
2001 |
| | (unaudited) |
|
| | | |
| Cash | $ 173,482,000 | $ 216,936,000 |
| | | |
| Receivables | 280,573,000 |
233,474,000 |
| | | |
Containers and ships, net
book value |
1,645,954,000 | 959,070,000 |
| | | |
Real estate and other fixed assets,
net book value | 884,821,000 | 744,726,000 |
| | | |
Assets under capital leases, net
book value | 26,503,000 | 25,078,000 |
| | | |
| Inventories | 65,820,000 |
54,277,000 |
| | | |
| Investments | 149,280,000 |
273,681,000 |
| | | |
| Other assets | 176,284,000
| 145,204,000 |
| | | |
| | $3,402,717,000 |
$2,652,446,000 |
| | | |
| | | |
| Accounts payable | $ 396,460,000 | $ 304,397,000 |
| | | |
Liabilities with respect to containers
and ships | 976,821,000 | 671,540,000 |
| | | |
Bank loans with respect to real estate
and other fixed assets | 685,650,000 | 433,575,000 |
| | | |
| Obligations under capital leases | 25,700,000 | 26,685,000 |
| | | |
| | | |
| Senior notes | 422,736,000 |
423,294,000 |
| | | |
| Senior subordinated debentures | 98,433,000 | 118,709,000 |
| | | |
Minority interests, deferred revenue
and taxes | 218,339,000 | 181,341,000 |
| | | |
| Redeemable preferred shares | 15,000,000 | 15,000,000 |
| | | |
| Shareholders' equity | 954,839,000 | 869,166,000 |
| | | |
Class B common shares with voting
rights owned by a subsidiary | (391,261,000) | (391,261,000) |
| | | |
| | $3,402,717,000 |
$2,652,446,000 |
|
|
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