Condensed Interim Financial Statements for the Half Year ended 30 June 2022
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
Table of Contents | ||
A. | Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income | .... 1 |
B. | Condensed Interim Statements of Financial Position .......................................................................... | 3 |
C. Condensed Interim Consolidated Statements of Cash Flows............................................................... | 5 | |
D. | Condensed Interim Statements of Changes of Equity.......................................................................... | 7 |
E. | Notes to the Condensed Interim Consolidated Financial Statements ................................................. | 9 |
F. | Other Information required under Listing Manual............................................................................. | 18 |
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
A. Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income
Note | Group | |||
1H2022 | 1H2021 | + / (-) | ||
US$'000 | US$'000 | % | ||
Revenue | 476,241 | 209,058 | 127.8 | |
Cost of sales | (290,499) | (164,303) | 76.8 | |
Gross profit | 185,742 | 44,755 | 315.0 | |
Other operating income | (A) | 108 | 2,229 | (95.2) |
Marketing expenses | (5,332) | (4,857) | 9.8 | |
Administrative expenses | (4,377) | (3,931) | 11.3 | |
Other operating expenses | (B) | (1,624) | (36) | n.m |
Profit from operations | 174,517 | 38,160 | 357.3 | |
Finance income | 309 | 129 | 139.5 | |
Finance costs | (2,440) | (1,323) | 84.4 | |
Operating profit | 172,386 | 36,966 | 366.3 | |
Share of results of associate/joint venture | 724 | 1,352 | (46.4) | |
Profit before tax | 173,110 | 38,318 | 351.8 | |
Income tax expense | (725) | (388) | 86.9 | |
Profit after tax | 172,385 | 37,930 | 354.5 | |
Attributable to: | ||||
Owners of the Company | 171,727 | 36,729 | 367.6 | |
Non-controlling interests | 658 | 1,201 | (45.2) | |
Profit after tax | 172,385 | 37,930 | 354.5 | |
n.m. = not meaningful | ||||
Notes to the Income Statement | ||||
Group | ||||
1H2022 | 1H2021 | + / (-) | ||
US$'000 | US$'000 | % | ||
Profit after tax is arrived at after charging (crediting) the | ||||
following: | ||||
Depreciation of property, plant and equipment | 3,478 | 3,369 | 3.2 | |
Depreciation of right-of-use assets | 45,105 | 9,118 | 394.7 | |
Depreciation of investment properties | 18 | 17 | 5.9 | |
Amortisation of intangible assets | 215 | 230 | (6.5) | |
Allowance for impairment on receivables | 200 | 1,141 | (82.5) | |
Finance costs - interest on borrowings | 276 | 360 | (23.3) | |
Finance costs - interest on lease liabilities | 2,164 | 963 | 124.7 |
Page 1 of 23
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
Notes to the Income Statement (Continued) | |||
Group | |||
1H2022 | 1H2021 | + / (-) | |
US$'000 | US$'000 | % | |
(A) Other operating income | |||
Rental income | 101 | 181 | (44.2) |
Net foreign exchange gains | - | 207 | (100.0) |
Gain on disposal of plant, property and equipment, net | 5 | 11 | (54.5) |
Insurance claim | - | 339 | n.m. |
Others | 2 | 1,491 | (99.9) |
108 | 2,229 | (95.2) | |
B) Other operating expenses | |||
Net foreign exchange loss | (1,609) | - | n.m |
Property, plant and equipment written off | (1) | - | n.m |
Claims | (2) | - | n.m |
Others | (12) | (36) | (66.7) |
(1,624) | (36) | n.m | |
Other Comprehensive Income | |||
Group | |||
1H2022 | 1H2021 | ||
US$'000 | US$'000 |
Profit after tax for the period
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined benefit obligation
Items that may be reclassified subsequently to profit or loss Share of other comprehensive income of associate
Net unrealised loss on revaluation of cash flow hedges Exchange differences on translation of foreign operations
Other comprehensive income for the period, net of tax
Total comprehensive income for the period
Total comprehensive income attributable to:
Owners of the Company
Non-controlling interests
172,385 37,930
- (5)
- (5)
- 346
- 43
(1,854) | (158) |
(1,116) | 231 |
(1,116) | 226 |
171,269 | 38,156 |
170,996 | 36,997 |
273 1,159
171,269 38,156
Page 2 of 23
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
B. Condensed Interim Statements of Financial Position
Group | Company | |||
30 Jun 22 | 31 Dec 21 | 30 Jun 22 | 31 Dec 21 | |
US$'000 | US$'000 | US$'000 | US$'000 | |
ASSETS | ||||
Current assets | ||||
Cash and bank balances | 245,113 | 187,193 | 193,247 | 146,911 |
Trade receivables - third parties | 165,251 | 113,487 | 154,403 | 105,744 |
Prepaid operating expenses | 25,443 | 19,776 | 18,431 | 14,846 |
Other receivables and deposits | 1,642 | 1,837 | 133 | 152 |
Due from immediate holding company (non-trade) | 261 | 261 | - | - |
Due from immediate holding company (trade) | 4,584 | 4,067 | 4,560 | 4,039 |
Due from subsidiaries (trade) | - | - | 11,277 | 8,955 |
Due from subsidiaries (non-trade) | - | - | 13,470 | 980 |
Due from related companies (trade) | 19,996 | 17,347 | 16,935 | 13,808 |
Due from non-controlling interest of subsidiary (trade) | 251 | 417 | - | - |
Inventories | 2,374 | 1,497 | 2,039 | 1,246 |
464,915 | 345,882 | 414,495 | 296,681 | |
Non-current assets | ||||
Investment properties | 950 | 968 | 516 | 529 |
Property, plant and equipment | 96,504 | 67,013 | 51,330 | 51,502 |
Right-of-use assets | 214,697 | 139,330 | 208,119 | 133,172 |
Intangible assets | 491 | 686 | 491 | 686 |
Subsidiaries | - | - | 46,643 | 37,062 |
Associate/joint venture | 18,973 | 17,537 | 12,117 | 12,117 |
Deferred tax assets | 298 | 66 | - | - |
Due from subsidiary (non-trade) | - | - | 519 | 570 |
Goodwill | 22 | - | - | - |
331,935 | 225,600 | 319,735 | 235,638 | |
Total assets | 796,850 | 571,482 | 734,230 | 532,319 |
Page 3 of 23
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Samudera Shipping Line Ltd. published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 03:47:07 UTC.