ONE reported a 58% QoQ drop in net profits in the 2nd quarter of 2023, with its
higher exposure on the Transpacific routes dragging down its overall
profitability by a larger margin compared to CMA CGM.
EBIT margins dropped to 10%, its lowest level since 2020 but net profits were
boosted by net interest income due to positive cash balances (ONE does not
provide balance sheet details and interest income breakdown).
ONE did not provide earnings guidance for FY2023, citing low visibility.
However