Balance Sheet Chinese Maritime Transport Ltd.

Equities

2612

TW0002612009

Marine Freight & Logistics

End-of-day quote Taiwan S.E. Other stock markets 2024-09-18			5-day change	1st Jan Change
41.80 ^TWD	+0.60%		+1.58%	-17.72%

08-27	Chinese Maritime Transport Acquires Two Bulk Carriers	MT
08-14	Chinese Maritime Transport Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024	CI

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Published financial data: CHINESE MARITIME TRANSPORT LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	3.76B	3.13B	3.55B	4.41B	4.01B
Total Revenues	3.76B	3.13B	3.55B	4.41B	4.01B
Cost of Goods Sold, Total	2.93B	2.58B	2.78B	3.02B	3.16B
Gross Profit	829M	548M	774M	1.39B	857M
Selling General & Admin Expenses, Total	356M	360M	399M	427M	451M
Provision for Bad Debts	20K	16K	87K	133K	-81K
Depreciation & Amortization - (IS)	10.14M	13.17M	17.83M	26.01M	29.34M
Amortization of Goodwill and Intangible Assets - (IS)	3.18M	3.21M	3.61M	3.13M	2.97M
Other Operating Expenses, Total	369M	376M	420M	456M	483M
Operating Income	460M	172M	354M	929M	374M
Interest Expense, Total	-237M	-150M	-97.03M	-152M	-368M
Interest And Investment Income	74.17M	25.06M	8.21M	47.5M	152M
Net Interest Expenses	-163M	-125M	-88.82M	-104M	-216M
Income (Loss) On Equity Invest.	65.15M	68.89M	21.81M	16.06M	36.82M
Currency Exchange Gains (Loss)	-861K	-1.57M	3.68M	28.01M	-1.7M
Other Non Operating Income (Expenses)	19.87M	33.44M	50.63M	159M	145M
EBT, Excl. Unusual Items	381M	147M	341M	1.03B	338M
Gain (Loss) On Sale Of Investments	-6.07M	208M	765M	-212M	83.15M
Gain (Loss) On Sale Of Assets	3.4M	-3.17M	6.64M	25.61M	11.56M
EBT, Incl. Unusual Items	378M	352M	1.11B	841M	433M
Income Tax Expense	54.42M	23.02M	81.99M	83.22M	109M
Earnings From Continuing Operations	324M	329M	1.03B	758M	324M
Net Income to Company	324M	329M	1.03B	758M	324M
Minority Interest	-	-	7.18M	8.11M	4.46M
Net Income - (IS)	324M	329M	1.04B	766M	328M
Preferred Dividend and Other Adjustments	-	-	-2.41M	-	-
Net Income to Common Incl Extra Items	324M	329M	1.04B	766M	328M
Net Income to Common Excl. Extra Items	324M	329M	1.04B	766M	328M
Per Share Items
Net EPS - Basic	1.64	1.67	5.27	3.88	1.66
Basic EPS - Continuing Operations	1.64	1.67	5.27	3.88	1.66
Basic Weighted Average Shares Outstanding	197M	197M	197M	197M	197M
Net EPS - Diluted	1.64	1.66	5.26	3.87	1.66
Diluted EPS - Continuing Operations	1.64	1.66	5.26	3.87	1.66
Diluted Weighted Average Shares Outstanding	198M	198M	198M	198M	198M
Normalized Basic EPS	1.21	0.47	1.12	3.29	1.09
Normalized Diluted EPS	1.2	0.47	1.12	3.29	1.09
Dividend Per Share	0.8	-	2.68	2.18	1
Payout Ratio	97.57	48.01	30.44	69.09	131.12
Supplemental Items
EBITDA	1.37B	1.05B	1.2B	1.86B	1.5B
EBITA	463M	175M	358M	932M	377M
EBIT	460M	172M	354M	929M	374M
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	3.76B	3.13B	3.55B	4.41B	4.01B
Effective Tax Rate - (Ratio)	14.39	6.54	7.37	9.89	25.13
Total Current Taxes	43.1M	23.41M	76.37M	76.08M	114M
Total Deferred Taxes	11.32M	-392K	5.62M	7.14M	-4.94M
Normalized Net Income	238M	91.93M	220M	651M	216M
Interest on Long-Term Debt	56.36M	61.62M	49.9M	36.64M	34.72M
Non-Cash Pension Expense	518K	275K	151K	145K	106K
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	3.29B	3.74B	3.06B	3.99B	3.95B
Short Term Investments	58.23M	25.4M	30.76M	25.07M	52.27M
Trading Asset Securities, Total	14.05M	635M	480M	315M	585M
Total Cash And Short Term Investments	3.36B	4.4B	3.57B	4.33B	4.58B
Accounts Receivable, Total	290M	298M	346M	295M	275M
Other Receivables	17.86M	22.27M	30.29M	29.31M	12.81M
Total Receivables	308M	320M	376M	324M	288M
Inventory	-	-	-	-	60.08M
Other Current Assets, Total	290M	356M	464M	321M	348M
Total Current Assets	3.96B	5.08B	4.41B	4.97B	5.28B
Gross Property Plant And Equipment	21.54B	20.43B	21.34B	24.61B	27.68B
Accumulated Depreciation	-7.77B	-8.17B	-8.87B	-10.57B	-11.57B
Net Property Plant And Equipment	13.77B	12.26B	12.48B	14.04B	16.12B
Long-term Investments	1.84B	2.03B	1.82B	1.01B	1.39B
Other Intangibles, Total	11.66M	9.8M	8.38M	5.3M	4.19M
Deferred Tax Assets Long-Term	17.85M	15.98M	13.65M	11.92M	9.44M
Other Long-Term Assets, Total	363M	88.74M	348M	404M	609M
Total Assets	19.96B	19.48B	19.08B	20.45B	23.41B
Liabilities
Accounts Payable, Total	239M	166M	240M	172M	175M
Accrued Expenses, Total	104M	139M	151M	175M	157M
Short-term Borrowings	1.53B	195M	1.46B	1.9B	3.02B
Current Portion of Long-Term Debt	1.05B	2.91B	1.23B	877M	743M
Current Portion of Leases	52.51M	44.53M	51.29M	45.85M	52.84M
Current Income Taxes Payable	-	10.75M	35.57M	60.26M	90.86M
Unearned Revenue Current, Total	19.33M	34.14M	55.22M	57.68M	42.01M
Other Current Liabilities	111M	2.89M	2.61M	3.73M	2.81M
Total Current Liabilities	3.11B	3.5B	3.22B	3.29B	4.28B
Long-Term Debt	6.09B	5.47B	4.62B	4.76B	6.75B
Long-Term Leases	170M	122M	169M	125M	108M
Pension & Other Post Retirement Benefits	40.78M	31.7M	30.71M	8.43M	11.07M
Deferred Tax Liability Non Current	608M	607M	607M	616M	608M
Other Non Current Liabilities	961K	670K	3.18M	4M	3.83M
Total Liabilities	10.02B	9.73B	8.65B	8.8B	11.76B
Common Stock, Total	1.97B	1.97B	1.97B	1.97B	1.97B
Additional Paid In Capital	53.41M	53.41M	53.41M	53.41M	53.41M
Retained Earnings	8.44B	8.61B	9.32B	9.57B	9.46B
Comprehensive Income and Other	-536M	-884M	-935M	46.87M	92.66M
Total Common Equity	9.93B	9.75B	10.41B	11.64B	11.58B
Minority Interest	-	-	17.48M	9.37M	64.91M
Total Equity	9.93B	9.75B	10.43B	11.65B	11.65B
Total Liabilities And Equity	19.96B	19.48B	19.08B	20.45B	23.41B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	197M	197M	197M	197M	197M
ECS Total Common Shares Outstanding	197M	197M	197M	197M	197M
Book Value / Share	50.3	49.37	52.72	58.95	58.66
Tangible Book Value	9.92B	9.74B	10.4B	11.64B	11.58B
Tangible Book Value Per Share	50.25	49.32	52.67	58.93	58.64
Total Debt	8.9B	8.74B	7.53B	7.7B	10.67B
Net Debt	5.54B	4.34B	3.96B	3.37B	6.09B
Debt Equivalent of Unfunded Proj. Benefit Obligation	40.78M	31.7M	30.71M	8.43M	9.07M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	-	17.48M	9.37M	64.91M
Equity Method Investments, Total	1.4B	630M	588M	636M	658M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	-	-	-	-	60.08M
Land - (BS)	1.72B	1.72B	1.7B	1.7B	1.7B
Buildings, Total	147M	145M	193M	259M	229M
Machinery, Total	19.37B	18.29B	18.17B	20.22B	24.06B
Accumulated Allowance for Doubtful Accounts (Supple)	158K	174K	261K	394K	313K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	324M	329M	1.11B	766M	328M
Depreciation & Amortization - CF	961M	928M	886M	980M	1.17B
Amortization of Goodwill and Intangible Assets - (CF)	3.18M	3.21M	3.61M	3.15M	2.99M
Depreciation & Amortization, Total	964M	932M	889M	983M	1.17B
(Gain) Loss From Sale Of Asset	-3.4M	3.17M	-6.64M	-25.61M	-11.56M
(Gain) Loss on Sale of Investments - (CF)	6.07M	-208M	-765M	212M	-83.15M
(Income) Loss On Equity Investments - (CF)	-65.15M	-68.89M	-21.81M	-16.06M	-36.82M
Provision and Write-off of Bad Debts	20K	16K	87K	133K	-81K
Other Operating Activities, Total	101M	19.76M	-35.59M	52.11M	24.42M
Change in Trading Asset Securities	-	-	-	-	4.06M
Change In Accounts Receivable	12.47M	-7.11M	-48.36M	51.34M	19.95M
Change In Inventories	-	-	-	-	-60.08M
Change In Accounts Payable	56M	-73.09M	73.96M	-67.91M	2.61M
Change in Unearned Revenues	-145K	14.81M	21.08M	2.46M	-15.67M
Change in Other Net Operating Assets	-42.82M	-64.29M	-84.81M	-14.7M	-73.42M
Cash from Operations	1.35B	877M	1.14B	1.94B	1.27B
Capital Expenditure	-243M	-114M	-1.07B	-1.39B	-3.18B
Sale of Property, Plant, and Equipment	7.28M	13.51M	11.64M	53.73M	23.79M
Cash Acquisitions	-	-	-32.88M	-	-
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-68K	-1.87M
Investment in Marketable and Equity Securities, Total	-340M	-44.1M	849M	780M	-781M
Other Investing Activities, Total	9.16M	-28.3M	-28.84M	-32.99M	-47.13M
Cash from Investing	-566M	-173M	-271M	-594M	-3.98B
Short Term Debt Issued, Total	590M	-	1.26B	440M	1.12B
Long-Term Debt Issued, Total	-	2.5B	712M	448M	2.55B
Total Debt Issued	590M	2.5B	1.98B	887M	3.67B
Short Term Debt Repaid, Total	-	-1.33B	-	-	-
Long-Term Debt Repaid, Total	-1.05B	-1.09B	-3.25B	-1.03B	-711M
Total Debt Repaid	-1.05B	-2.43B	-3.25B	-1.03B	-711M
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-316M	-158M	-316M	-529M	-431M
Common & Preferred Stock Dividends Paid	-316M	-158M	-316M	-529M	-431M
Other Financing Activities, Total	353K	-291K	2.51M	822K	59.83M
Cash from Financing	-778M	-83.56M	-1.58B	-669M	2.59B
Foreign Exchange Rate Adjustments	-64.56M	-167M	-36.11M	252M	1.26M
Net Change in Cash	-57.16M	454M	-757M	932M	-120M
Supplemental Items
Cash Interest Paid	246M	160M	109M	134M	362M
Cash Income Tax Paid (Refund)	24.35M	36.81M	50.12M	51.45M	97.82M
Levered Free Cash Flow	1.01B	633M	-52.49M	253M	-2.13B
Unlevered Free Cash Flow	1.16B	726M	8.16M	348M	-1.9B
Change In Net Working Capital	-152M	199M	32.29M	-179M	128M
Net Debt Issued / Repaid	-462M	74.72M	-1.27B	-141M	2.96B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.42	0.54	1.15	2.94	1.07
Return on Total Capital	1.5	0.57	1.21	3.11	1.12
Return On Equity %	3.22	3.34	10.19	6.87	2.78
Return on Common Equity	3.22	3.34	10.31	6.95	2.83
Margin Analysis
Gross Profit Margin %	22.04	17.5	21.79	31.41	21.35
SG&A Margin	9.47	11.5	11.22	9.68	11.23
EBITDA Margin %	36.39	33.69	33.67	42.22	37.32
EBITA Margin %	12.3	5.58	10.06	21.14	9.4
EBIT Margin %	12.22	5.48	9.96	21.07	9.32
Income From Continuing Operations Margin %	8.61	10.51	29.01	17.19	8.07
Net Income Margin %	8.61	10.51	29.21	17.37	8.18
Net Avail. For Common Margin %	8.61	10.51	29.28	17.37	8.18
Normalized Net Income Margin	6.33	2.94	6.2	14.75	5.37
Levered Free Cash Flow Margin	26.91	20.2	-1.48	5.74	-53.02
Unlevered Free Cash Flow Margin	30.84	23.2	0.23	7.89	-47.29
Asset Turnover
Asset Turnover	0.19	0.16	0.18	0.22	0.18
Fixed Assets Turnover	0.27	0.24	0.29	0.33	0.27
Receivables Turnover (Average Receivables)	12.68	10.65	11.04	13.77	14.1
Short Term Liquidity
Current Ratio	1.27	1.45	1.37	1.51	1.23
Quick Ratio	1.18	1.35	1.22	1.41	1.14
Operating Cash Flow to Current Liabilities	0.43	0.25	0.35	0.59	0.3
Days Sales Outstanding (Average Receivables)	28.78	34.36	33.06	26.51	25.88
Average Days Payable Outstanding	26.27	28.7	26.67	24.87	-
Long Term Solvency
Total Debt/Equity	89.58	89.67	72.16	66.11	91.63
Total Debt / Total Capital	47.25	47.28	41.91	39.8	47.82
LT Debt/Equity	63.04	57.34	45.92	41.89	58.87
Long-Term Debt / Total Capital