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Textainer 2020 profit up 28.8pc though revenue slips 3pc
来源：Shipping News Headlines 编辑：编辑部 发布：2021/02/23 09:20:11
CONTAINER lessor Textainer of Bermuda posted a 28.8 per cent year-on-year increase in net profit to common shareholders to US$72.8 million, drawn on leasing revenues of $600.8 million, down three per cent.
Fourth quarter profit dropped 61.7 per cent to $16.9 million, drawn on revenues of $161.4 million, up 6.5 per cent.
"Our fourth quarter performance underscores the renewed strength of our business and provides sustainable momentum into the new year," said Textainer president Olivier Ghesquiere.
Utilisation averaged 98.5 per cent for the fourth quarter, 96.6 per cent for the full year, and is currently at 99.5 per cent, the company said.
The company invested $470 million in containers delivered during the fourth quarter, most of which is currently on lease.
Their fleet surpassed four million TEU as of December 31.
"Our fourth quarter performance underscores the renewed strength of our business and provides sustainable momentum into the new year," said Textainer president Olivier Ghesquiere.
"For the quarter, lease rental income increased eight per cent to $161million and adjusted EBITDA increased 15 per cent to $137 million. Our adjusted net income almost doubled to $41 million," said Mr Ghesquiere.
"We reacted swiftly to the sharp rebound in cargo volumes that started last July by investing heavily in new containers. During the second half of 2020, we added a total of $890 million of containers into our fleet, including $470 million during the fourth quarter, substantially all of which are currently on lease," he said.
"As we look into the new year, we continue to see high demand for cargo and containers. We remain focused on the continued discipline of our long-term strategic plan and strict profitability criteria that will ensure sustainable value creation to our shareholders," said Mr Ghesquiere.
Company debt increased to $3.7 billion from $3.55 billion year on-year and it repurchased 6.7 million of its common shares, with $770,034 of those repurchased in the fourth quarter.
Fourth quarter profit dropped 61.7 per cent to $16.9 million, drawn on revenues of $161.4 million, up 6.5 per cent.
"Our fourth quarter performance underscores the renewed strength of our business and provides sustainable momentum into the new year," said Textainer president Olivier Ghesquiere.
Utilisation averaged 98.5 per cent for the fourth quarter, 96.6 per cent for the full year, and is currently at 99.5 per cent, the company said.
The company invested $470 million in containers delivered during the fourth quarter, most of which is currently on lease.
Their fleet surpassed four million TEU as of December 31.
"Our fourth quarter performance underscores the renewed strength of our business and provides sustainable momentum into the new year," said Textainer president Olivier Ghesquiere.
"For the quarter, lease rental income increased eight per cent to $161million and adjusted EBITDA increased 15 per cent to $137 million. Our adjusted net income almost doubled to $41 million," said Mr Ghesquiere.
"We reacted swiftly to the sharp rebound in cargo volumes that started last July by investing heavily in new containers. During the second half of 2020, we added a total of $890 million of containers into our fleet, including $470 million during the fourth quarter, substantially all of which are currently on lease," he said.
"As we look into the new year, we continue to see high demand for cargo and containers. We remain focused on the continued discipline of our long-term strategic plan and strict profitability criteria that will ensure sustainable value creation to our shareholders," said Mr Ghesquiere.
Company debt increased to $3.7 billion from $3.55 billion year on-year and it repurchased 6.7 million of its common shares, with $770,034 of those repurchased in the fourth quarter.