WELCOME TO WWW.PLANESINTHEAIR.COM

TOMORROWS TRANSPORTATION NEWS TODAY!

Tag: raises

A.P. Moller – Maersk reports robust Q2 financial results in difficult market

August 7, 2023 /

Copenhagen, Denmark – A.P. Moller – Maersk (OTC: AMKBY) reports a second quarter of 2023 ahead of expectations, while the ongoing market normalisation continued through the quarter leading to lower volumes and lower rates. Revenue stood at USD 13.0bn compared to USD 21.7bn in Q2 2022 while profitability was strong at 12.4% although significantly lower compared to the extraordinarily strong Q2 2022. Reflecting the strong first half performance, Maersk raises its financial outlook and now expects underlying EBITDA of USD 9.5 – 11.0bn (previously USD 8.0 – 11.0bn), underlying EBIT of USD 3.5 – 5.0bn (previously USD 2.0 – 5.0bn) despite a weakened second half market outlook.

Ocean revenue decreased to USD 8.7bn from USD 17.4bn driven by a decrease in freight rates and loaded volumes. While the volume and rate environment stabilized at a lower level during Q2, Ocean continued to be impacted by lower demand, driven by a significant inventory correction in particular in North America and Europe. A strong cost management allowed to partially offset the top line impact on financial performance in Ocean.

Revenue in Logistics & Services was USD 3.4bn compared to USD 3.5bn. The segment was also impacted by lower volumes due to the continued destocking and weaker consumer demand, as well as low rates. As in Ocean, market demand is expected to continue to be subdued as long as the inventory correction is ongoing.

Revenue in Terminals decreased to USD 950m from USD 1.1bn and was influenced by the normalisation of storage revenue and lower volumes amid lower consumer demand and less congestion in North America. Strong cost control contributed to a continued solid financial performance.

Deutsche Post DHL Group Raises Guidance After Record Quarterly Earnings

July 7, 2021 /

Bonn, Germany – Deutsche Post DHL Group (OTC: DPSGY), the world’s leading logistics company, has today released preliminary results for the second quarter of 2021. Simultaneously, the outlook for the current financial year and for 2023 has been raised. Furthermore, a one-time corona bonus1 for approximately 550,000 employees worldwide has been decided. Preliminary operating profit (EBIT) for the second quarter has improved to record level with around EUR 2,075 million (Q2 2020: EUR 912 million) and has more than doubled compared to previous year. Against the backdrop of the excellent business performance, the Group has raised its EBIT outlook for 2021 to more than EUR 7.0 billion (so far: more than EUR 6.7 billion). The mid-term EBIT outlook for 2023 is now expected to be more than EUR 7.4 billion (so far: more than EUR 7.0 billion).

As an appreciation for their tireless efforts during the pandemic the Group has decided to grant again a corona bonus of EUR 3001 to employees worldwide. This one-time payment is aimed at approximately 550,000 colleagues in all divisions and countries. Excluded are Executives. The corresponding expenses of around EUR 200 million will be booked in the third quarter 2021 and are already included in the updated earnings outlook for 2021.

All divisions significantly exceeded the previous year’s results. Network capacity utilization was constantly high in the second quarter 2021. B2C shipment volumes remained ahead of last year in all networks, while the recovery in the B2B businesses continued to gain momentum. At the same time the tight capacity situation both in Ocean and Air Freight markets remained unchanged.

Singapore Airlines Raises S$2 Billion from Sale-and-Lease Back Transactions

May 10, 2021 /

Singapore Airlines (SIA) has completed sale-and-leaseback transactions for 11 aircraft, comprising seven Airbus A350-900s and four Boeing 787-10s, raising approximately S$2.0 billion in total.

The transactions were arranged by four different parties, as follows: 

Lease ArrangerAircraft
Aergo Capital Limited1 Airbus A350-900
1 Boeing 787-10
Altavair4 Airbus A350-900s
EastMerchant / Crianza Aviation1 Airbus A350-900
2 Boeing 787-10s
Muzinich and Co. Limited1 Airbus A350-900
1 Boeing 787-10
Total11 

SIA has successfully raised approximately S$15.4 billion in fresh liquidity since 1 April 2020, including these sale-and-leaseback transactions. The amount also includes S$8.8 billion from SIA’s successful rights issue, S$2.1 billion from secured financing, S$2.0 billion via the issuance of convertible bonds and notes, as well as more than S$500 million through new committed lines of credit and a short-term unsecured loan.

SIA continues to have access to more than S$2.1 billion in committed credit lines, along with the option to raise up to S$6.2 billion in additional mandatory convertible bonds before the Annual General Meeting in July 2021.

During this period of high uncertainty, as the airline industry continues to navigate the unprecedented challenges caused by the Covid-19 pandemic, the SIA Group will continue to explore additional means to raise liquidity as necessary.

Mr Goh Choon Phong, Singapore Airlines Chief Executive Officer, said: “The additional liquidity from these sale-and-leaseback transactions reinforces our ability to navigate the impact of the Covid-19 pandemic from a position of strength. We will continue to respond nimbly to the evolving marketing conditions, and be ready to capture all possible growth opportunities as we recover from this crisis.”

Cash-Strapped El Al Israel Airlines Raises $148 Million

September 17, 2020 /

TEL AVIV, Sept 16 (Reuters) – Cash-strapped El Al Israel Airlines raised $148 million in a government-mandated share offering on Wednesday that will enable it to receive a state bailout package.

In a regulatory filing in Tel Aviv, Israel’s flag carrier said it sold 753.35 million new shares at 0.671 shekels ($0.1963) each.

Its stock earlier had closed 5.6% higher at 0.774 shekel.

Demand reached 654 million shekels while El Al accepted 505 million shekels ($148 million) worth.

El Al did not give further details of the offering which took the total number of shares outstanding to above 1.2 million.

But Israeli media reported that Eli Rozenberg had obtained a controlling stake via the offering, with 44.9% of the airline’s shares. He is the son of American businessman Kenny Rozenberg, CEO of New York-based nursing home chain Centers Health Care.

Rozenberg in July had offered to funnel $75 million into the airline in return for a 44.99% stake.

An El Al spokesman said he could not immediately confirm the reports about Rozenberg’s bid.

Newspapers said the state’s overall stake would now be as much as 15.5%, while the current controlling shareholder – Knafaim Holdings – would see its stake fall to about 15%.

Israel’s Finance Ministry said it paid $34 million for its shares and that although it pledged a $150 million safety net, it was barely needed.

“The results of the offering express investors’ trust in the company’s business plan and in state aid,” it said in a statement.

El Al has been hit hard by the coronavirus outbreak and the government has for months offered to intervene to help it avoid bankruptcy.

That has included mandating a share offering and steep spending reductions to receive a $250 million loan that will be 75% backed by the government and used partly to pay back customers whose flights were cancelled.

The airline has reported losses for two years running, racked up debt to renew its fleet, and suspended flights when Israel closed its borders and furloughed most of its employees.

($1 = 3.4185 shekels) (Reporting by Rami Ayyub and Steven Scheer; Editing by Andrew Cawthorne)

Lockheed Martin Raises 2019 Profit Forecast, Shares Jump

April 23, 2019 /
FILE PHOTO: Lockheed Martin is seen at Euronaval, the world naval defence exhibition in Le Bourget near Paris, France, October 23, 2018. REUTERS/Benoit Tessier/File Photo

(Reuters) – Lockheed Martin Corp reported a better-than-expected 47 percent jump in quarterly profit on Tuesday and raised its annual profit forecast, helped by strong demand for its missiles and fighter jets, sending its shares up more than 5 percent in pre-market trading.

U.S. weapons makers have been expected to benefit from stronger global demand for fighter jets and munitions and higher U.S. defence budgets in fiscal 2020 as they announce first quarter earnings this week.

Lockheed’s Missiles and Fire Control business, which makes missile defences like the Terminal High Altitude Area Defence (THAAD), was one of its best-performing units.

On April 1, the unit was awarded a THAAD interceptor missile contract worth $2.4 billion, some of which are slated to be delivered to Saudi Arabia, which could boost earnings for the current quarter.

Overall, the Bethesda, Maryland-based company said its earnings rose to $1.70 billion, or $5.99 per share, in the first quarter ended March 31, from $1.16 billion, or $4.02 per share, a year earlier. That was partly helped by a $75 million dollar boost from additional tax deductions on foreign military sales.

Excluding that one-time gain, Lockheed reported $5.73 per share profit, well ahead of the $4.34 per share that Wall Street had expected, on average, according to IBES data from Refinitiv.

Lockheed’s overall net sales for the quarter rose 23 percent to $14.34 billion. The company’s sales backlog grew to $133.5 billion, up 3 billion over the quarter.

Operating margins at the aeronautics division, Lockheed’s biggest, fell to 10.5 percent in the first quarter from 10.8 percent a year earlier, but sales were up 27 percent to $5.5 billion on demand for the F-35 jet and some classified contracts.

The United States is considering expanding sales of Lockheed-made F-35 fighter jets to five new nations including Romania, Greece and Poland as European allies bulk up their defences in the face of a strengthening Russia, a Pentagon official told Congress in early April.

(Reporting by Mike Stone in Washington D.C. and Sanjana Shivdas in Bengaluru; Editing by Shinjini Ganguli and Bill Rigby)

Archives

© 2024 WELCOME TO WWW.PLANESINTHEAIR.COM

Theme by Anders Noren — Up ↑