Orient Overseas (International) (0316) Q4 2024 earnings summary

Executive summary

• Q4 2024 total revenues rose 55.0% year-over-year to $2,513.8 million, with total liftings up 6.1% and average revenue per TEU up 46.2%.

• For FY 2024, total revenues increased 30.2% to $9,814.9 million, and total liftings grew 3.5% to 7,595,476 TEUs.

Financial highlights

• Q4 2024 Trans-Pacific revenue surged 61.7% year-over-year, Asia/Europe up 75.4%, and Intra-Asia/Australasia up 44.3%.

• Trans-Atlantic revenue in Q4 2024 rose 22.9% year-over-year.

• FY 2024 Trans-Pacific revenue grew 65.5%, Asia/Europe up 55.2%, while Trans-Atlantic fell 26.7%.

• Overall average revenue per TEU increased 46.2% in Q4 and 25.8% for the year.

Outlook and guidance

• Performance remains dependent on costs and expenses, with caution advised due to unaudited figures.