SITC International Holdings Company (1308) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2026 rose 10.7% year-over-year to US$1,842.1 million, driven by higher shipping volumes and increased average freight rates.

• Net profit attributable to shareholders increased 7.4% to US$680.5 million compared to the same period in 2025.

• The company operated 120 container vessels and handled 1,971,942 TEUs, up 7.8% year-over-year.

• Interim dividend declared at HK$1.50 (US$0.19) per share, up from HK$1.30 last year.

Financial highlights

• Gross profit increased to US$733.2 million, but gross margin slightly decreased to 39.8% from 40.2% year-over-year.

• Cost of sales rose 11.4% to US$1,108.8 million, mainly due to higher shipping volumes and bunker rates.

• Administrative expenses grew 17.1% to US$79.4 million, primarily from increased staff costs.

• Finance costs decreased to US$7.0 million, reflecting lower borrowing principal.

• Share of profits from joint ventures increased 26.3% to US$16.8 million; associates' contribution declined.

Outlook and guidance

• The company expects continued healthy growth in the Asian shipping market and plans to further invest in vessels and logistics projects.

• Internal financial resources and bank borrowings are expected to meet future funding needs.