Orient Overseas (International) Limited (OOIL) has released its financial and operational results for the first half of 2024, showcasing a strong performance despite a dip in profit compared to the previous year.
The company, which owns Hong Kong-based ocean carrier Orient Overseas Container Line (OOCL), reported a group revenue of US$4.646 billion and delivered an EBIT of US$841 million, with an EBITDA of US$1.277 billion. The company’s operating cash flow remained solid at US$959 million. Additionally, earnings per ordinary share for the first half of 2024 were US$1.26. The profit attributable to equity holders for this period was US$833 million, leading to the declaration of an interim dividend of US$0.63 per ordinary share. This dividend amounts to approximately US$416 million, representing about 50% of the profit attributable to equity holders.
In terms of operational highlights, OOCL’s container volumes increased to 3.7 million TEUs, reflecting robust demand and efficient operations.
