Wisdom Marine Lines : December 2017 Monthly Earnings Release

Wisdom Marine Lines Co., Limited
December 2017 Monthly Earnings Release
	USD	TWD(in thousands)	YoY% Change
Monthly Revenue	33,856,065	1,014,700	Plus 16.82%
Year-to-Date Revenue	362,728,315	11,038,548	Plus 9.58%
Monthly Operating Income	8,107,088	242,976	Plus 87.37%
Monthly Net Income before Income Tax Expense	3,411,148	102,234	296.34%
Year-to-Date Net Income before Income Tax Expense	13,979,455	425,423	(67.72%)
Monthly Pre-tax EPS	-	0.17	-
Year-to-Date Pre-tax EPS	-	0.72	-

Year-to-Date Operating Income 61,859,044 1,882,494 Plus 24.64%

Basis for Computation:
	Month End	Monthly Average	Annual Average
TWD/USD	29.760	29.971	30.432
JPY/USD	112.66	112.95	112.21
Outstanding Shares	616,707,566	-	-
Weighted Average of Shares Outstanding	589,557,930	-	-
	Month End	Prior Month	Prior Year
No. of Vessels	124	124	114
BDI	1,366	1,578	961

1.Change of Fleet:None. 2.Change in Operation: 5 vessels in dry-dock. 3.Fluctuation of Exchange Rate: Yen fluctuations resulted in non-operating income (loss) from outstanding borrowings denominated in Japanese Yen. 4.Renewal of Contracts: 5 vessels renewal of contracts. 5.Operating Income:Operating income increased 87.37%. However, the shipping market continued to recover, and with the Company's new vessels delivery and the TC hire renewal this year, the expected operating income will have the opportunity to grow. 6.Non-operating income: Net Income increased due to a USD$8,000,000 evaluation loss on investment last year. Notes on Compilation: 1.We adopt IFRS. 2.Our functional currency is US Dollar. The representation of TWD figures are calculated based on the average exchange rate of the relevant period. Evaluation gain or loss is calculated based on the month end exchange rate. 3.Rate of change is calculated with USD figures. 4.Earning per share is calculated based on weighted average of outstanding shares. 5.Depreciation and crew wage costs are calculated on a monthly basis, but revenue is calculated on incurred basis by day. Hence the calendar days of each month could slightly affect revenue and operating profits. 6.The lubricant oil expenses is estimated monthly and adjusted according to inventory check on a quarterly frequency. 7.The duration of each vessel might differ according to size, condition and specifications. Modern new buildings now are normally depreciated on a 25 year duration. 8.The earning release is based on unaudited provisional account. Monthly Net Income before Income Tax Expense reported in the earnings release includes earnings attributable to minority interests.