T S Lines (2510) investor relations material

Executive summary

• H1 2026 revenue rose 3.0% YoY to US$660.4m; profit attributable to equity shareholders increased 23.3% to US$232.6m, including a US$39.4m gain from two vessel disposals.

• Gross profit grew 31.8% to US$167.5m and gross margin expanded to 25.4%, supported by higher average freight rates and lower slot charter hire costs.

• Shipping volume declined 0.9% to 810,842 TEU, while average revenue per TEU rose from US$715 to US$741.

Financial highlights

• Revenue increased from US$641.4m to US$660.4m; cost of sales fell 4.2% to US$493.0m, and gross profit rose from US$127.1m to US$167.5m.

• Gross margin increased from 19.8% to 25.4%.

• Operating profit rose to US$235.1m from US$189.7m; profit before tax was US$233.0m versus US$189.1m.

• Net profit was US$232.7m versus US$188.8m; attributable profit was US$232.6m versus US$188.7m.

• Basic and diluted EPS increased to US$0.140 from US$0.113.

Outlook and guidance

• H2 plans include prudent deployment of new vessel capacity, route-efficiency improvements, fleet-allocation flexibility and timely network adjustments as market conditions change.

• Capacity from the final 7,000-TEU vessel in the series will be allocated in line with market conditions.

• Route and capacity decisions will take account of trade conditions, tariff policies, geopolitics and safety on major shipping lanes.