neptune orient lines ltd (NPTOF) Snapshot

NOL Group announced the appointment of Tom Behrens- Sorensen to its Board of Directors. Mr. Behrens-Sorensen joins the Board on July 1 and will serve as a member of both the Executive Resource & Compensation Committee and the Enterprise Risk Management Committee. A shipping veteran with more than three decades of international experience, Mr. Behrens- Sorensen has a distinguished track record as a business first-mover in Europe, Australia and across Asia - particularly in India and China. Based in Beijing, Mr. Behrens-Sorensen is a co-founder of the European Union Chamber of Commerce and of the Danish Chamber of Commerce in China.

Neptune Orient Lines Limited announced that it has incorporated a new wholly owned subsidiary, APL Logistics Land Transportation Services Ltd. (APLL LTS), in the State of Delaware, United States of America, on May 28, 2013, as part of the legal entities holding structure streamlining exercise of NOL's Logistics business. APLL LTS will be the holding company for NOL's land transportation business in the Americas. APLL LTS has an initial paid up capital of $1,000 and will be capitalized as appropriate in line with its investments. The streamlining is purely a legal exercise and is not expected to affect the normal operations of NOL's land transportation business or its employees and customers.

Neptune Orient Lines Ltd. reported unaudited consolidated earnings results for the first quarter ended April 5, 2013. For the quarter, the company reported revenue of USD 2,371,052,000 against USD 2,377,796,000 a year ago. Profit before income tax was USD 92,473,000 compared to loss before income tax of USD 240,902,000 a year ago. Net profit attributable to owners of the company was USD 75,509,000 compared to net loss attributable to owners of the company of USD 253,572,000 a year ago. Net cash inflow from operating activities was USD 14,514,000 compared to net cash outflow from operating activities of USD 131,701,000 a year ago. Purchase of property, plant and equipment was USD 384,551,000 compared to USD 102,009,000 a year ago. Purchase of intangible assets was USD 835,000 against USD 2,184,000 a year ago. Total core LBIT was USD 85 million against USD 233 million a year ago. Net debt as on April 5, 2013 was USD 3,110 million. For the first quarter of 2013, the company reported impairment Loss on assets classified as held-for-sale of USD 3,700,000. For the year 2013, barring unforeseen circumstances and if freight rates do not deteriorate, the group remains on track to deliver a better performance than in 2012.