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Performance 2021 Bursa Logistics Companies

Period : 2021

Date : 12th March 2022

Researcher : Esther Low

2021 Q-O-Q revenue for Bursa listed logistics companies

For the calendar period 2021, Bursa listed logistics companies in the air logistics industry such as Malaysia Airports Holdings Berhad started showing signs of slow recovery towards the second half of the year as interstate travel restriction, easing of MCO and introduction of Vaccinated Travel Lane between Malaysia and neighboring countries have helped increase air and passenger activities. The air logistics category reported a Q4 revenue of RM 551.3 million (up 63.7% from Q1 revenue of RM 336.9 million).

2021 Q-O-Q revenue for Bursa listed logistics companies in e-commerce category

Meanwhile the e-commerce logistics industry started the year with a Q1 revenue of RM 713.9 million but diminished towards the end of 2021 by 9.42% to RM 646.6 million for Q4 2021. The lower revenue is attributed to decrease in revenue from Pos Malaysia Berhad starting from Q2 onwards. According to the group, the postal segment suffered a decrease of 12% primarily contributed by the drop of postal services demand. The postal segment experienced a decrease in mail and parcel volume handled starting from Q2 of 2021.

2021 Q-O-Q revenue for Bursa listed logistics companies in marine category

The marine logistics companies meanwhile enjoyed a strong 2021 with a total revenue of RM 25.8 billion. Marine logistics reported a Q1 revenue of RM 3.9 billion before rising to RM 4.76 billion in Q4 2021. The bulk of the revenue contribution for the marine category is due to MISC Berhad’s increase in revenue especially in the Petroleum & Product shipping and Offshore business segment which reported an increase in revenue Q-O-Q by 21.3% and 69.7% respectively.

2021 Q-O-Q PBT for Bursa listed logistics companies

Despite a gradual revenue recovery for the air logistics industry, Malaysia Airports Holdings Berhad still remains in the red as it operates on limited flights and passenger numbers. The company reported a higher loss in PBT during the Q2 of 2021 due to higher depreciation and amortization as well as decrease in other income and increase in operational expenses.

2021 Q-O-Q PBT for Bursa listed logistics companies in e-commerce category

Meanwhile the e-commerce category remains in red as well due to Pos Malaysia’s lower revenue gain and higher operating costs. In Q2 2021, Pos Malaysia recorded a loss before tax of RM 119.4 million due to higher cost of sales and operating expenses as well as impairment of property, plant and equipment. Specifically, in Q4 2021, the group reported a much higher loss before tax of RM 125 million due to the Mutual Separation Scheme and impairment of intangible assets.

As the world start showing signs of adjusting to the new normal and living with COVID, a new threat that is the ongoing Russia-Ukraine war may further disrupt the already strained global supply chain and logistics industry. According to Business Insider, the Russia-Ukraine war is likely to send ocean and air shipping rates to skyrocket. There have been reports of several cargo ships within the Black Sea region that have been fired upon or detained while other countries such as UK have banned all Russian ships from entering its ports. This would mean that many vessels will have to reroute creating congestion in other ports.

Shipping companies, Maersk, ONE, MSC and Hapag-Lloyd have announced that they will temporarily suspend shipments to and from Russia and Ukraine. It is estimated that this will impact at least 47% of the global container shipping. Meanwhile for the global air freight industry, Russia has closed its airspace to 36 countries forcing shipping planes to adjust or find new flight routes to avoid flying over the Russian or Ukrainian air space.

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