Disconnect from Full-Year Results Due to Quarterly Changes in Vessel Types, Vessel Prices and Provisions
First written in FY2017-Q2. 12 of 13 entries say "Restated". Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024RestatedAnnual report
「Because the new shipbuilding business normally takes approximately 2–3 years from order receipt to completion and delivery, there is uncertainty regarding each cost component that makes up the total estimated construction costs, and the degree of construction progress may be affected by this uncertainty.」
The company is reaffirming the structural factors through which the 2–3-year construction period for new ships and uncertainty regarding raw material prices, schedules and cost-reduction measures affect revenue recognition and fluctuations in results. - FY2021RestatedAnnual report
「The new shipbuilding business normally takes approximately 2–3 years from order receipt to completion and delivery.」
The company continues to explain the structural factors behind fluctuations in results, including the lengthy construction period for new ships and changes in vessel prices, foreign exchange rates, raw material prices and progress estimates. - FY2021-Q2RestatedAnnual report
「In the core new shipbuilding business, the number of vessels, vessel types and vessel prices included in revenue differ from quarter to quarter, and results are also significantly affected by adjustments to operating volumes. There are also significant fluctuating factors, such as equipment and material prices and foreign exchange rates, which cause profitability to fluctuate accordingly. Provisions for construction losses may also increase or decrease each quarter following a reassessment covering all vessels in the order backlog, and additional provisions may be recognized for new orders. For these reasons, second-quarter results and full-year results do not necessarily move in tandem.」
The company is reaffirming the structural factors that mean quarterly and full-year results do not necessarily move in tandem, including quarterly changes in vessel numbers, vessel types, vessel prices, operating-volume adjustments, equipment and material prices, foreign exchange rates, and provisions for construction losses. - FY2021-Q1RestatedAnnual report
「In the core new shipbuilding business, the number of vessels, vessel types and vessel prices included in revenue differ from quarter to quarter, and results are also significantly affected by adjustments to operating volumes. There are also significant fluctuating factors, such as equipment and material prices and foreign exchange rates, which cause profitability to fluctuate accordingly. Provisions for construction losses may also increase or decrease each quarter following a reassessment covering all vessels in the order backlog, and additional provisions may be recognized for new orders. For these reasons, first-quarter results and full-year results do not necessarily move in tandem.」
The company is reaffirming the structural factors that mean quarterly and full-year results do not necessarily move in tandem, including quarterly changes in vessel numbers, vessel types, vessel prices, operating-volume adjustments, equipment and material prices, foreign exchange rates, and provisions for construction losses. - FY2020-Q3RestatedAnnual report
「In the core new shipbuilding business, the number of vessels, vessel types and vessel prices included in revenue differ from quarter to quarter. There are also significant fluctuating factors, such as equipment and material prices and foreign exchange rates, which cause profitability to fluctuate accordingly. Provisions for construction losses may also increase or decrease each quarter following a reassessment covering all vessels in the order backlog, and additional provisions may be recognized for new orders. For these reasons, third-quarter results and full-year results do not necessarily move in tandem.」
The company is reaffirming the structural factors that mean quarterly and full-year results do not necessarily move in tandem, including quarterly changes in vessel numbers, vessel types, vessel prices, equipment and material prices, foreign exchange rates, and provisions for construction losses. - FY2020-Q2RestatedAnnual report
「In the core Newbuildings business, the number and types of vessels included in revenue and their prices differ from quarter to quarter. There are also major sources of volatility, such as materials and equipment prices and foreign exchange rates, which cause profitability to fluctuate accordingly. In addition to increases and decreases resulting from the quarterly reassessment of provisions for construction losses covering all vessels in the order backlog, new provisions may also be recorded in connection with new orders. For these reasons, second-quarter performance does not necessarily correspond to full-year performance.」
The company is reaffirming the structural factors that mean quarterly and full-year results do not necessarily move in tandem, including quarterly changes in vessel numbers, vessel types, vessel prices, equipment and material prices, foreign exchange rates, and provisions for construction losses. - FY2019-Q3RestatedAnnual report
「In the core new shipbuilding business, the number of vessels, vessel types and vessel prices included in revenue differ from quarter to quarter. There are also significant fluctuating factors, such as equipment and material prices and foreign exchange rates, which cause profitability to fluctuate accordingly. Provisions for construction losses may also increase or decrease each quarter following a reassessment covering all vessels in the order backlog, and additional provisions may be recognized for new orders. For these reasons, third-quarter results and full-year results do not necessarily move in tandem.」
The company is reaffirming the structural factors that mean quarterly and full-year results do not necessarily move in tandem, including quarterly changes in vessel numbers, vessel types, vessel prices, equipment and material prices, foreign exchange rates, and provisions for construction losses. - FY2019-Q2RestatedAnnual report
「In the core Newbuildings business, the number and types of vessels included in revenue and their prices differ from quarter to quarter. There are also major sources of volatility, such as materials and equipment prices and foreign exchange rates, which cause profitability to fluctuate accordingly. In addition to increases and decreases resulting from the quarterly reassessment of provisions for construction losses covering all vessels in the order backlog, new provisions may also be recorded in connection with new orders. For these reasons, second-quarter performance does not necessarily correspond to full-year performance.」
The company is reaffirming the structural factors that mean quarterly and full-year results do not necessarily move in tandem, including quarterly changes in vessel numbers, vessel types, vessel prices, equipment and material prices, foreign exchange rates, and provisions for construction losses. - FY2019-Q1RestatedAnnual report
「In the core Newbuildings business, the number and types of vessels included in revenue and their prices differ from quarter to quarter. There are also major sources of volatility, such as materials and equipment prices and foreign exchange rates, which cause profitability to fluctuate accordingly. In addition to increases and decreases resulting from the quarterly reassessment of provisions for construction losses covering all vessels in the order backlog, new provisions may also be recorded in connection with new orders. For these reasons, first-quarter performance does not necessarily correspond to full-year performance.」
The company reconfirms the structural fact that quarterly and full-year performance do not necessarily correspond due to quarterly changes in vessel numbers, vessel types, vessel prices, materials and equipment prices, foreign exchange rates and provisions for construction losses. - FY2018-Q2RestatedAnnual report
「In the core Newbuildings business, the number and types of vessels included in revenue and their prices differ from quarter to quarter. There are also major sources of volatility, such as materials and equipment prices and foreign exchange rates, which cause profitability to fluctuate accordingly. In addition to increases and decreases resulting from the quarterly reassessment of provisions for construction losses covering all vessels in the order backlog, new provisions may also be recorded in connection with new orders. For these reasons, second-quarter performance does not necessarily correspond to full-year performance.」
The company is reaffirming the structural factors that mean quarterly and full-year results do not necessarily move in tandem, including quarterly changes in vessel numbers, vessel types, vessel prices, equipment and material prices, foreign exchange rates, and provisions for construction losses. - FY2018-Q1RestatedAnnual report
「In the core Newbuildings business, the number and types of vessels included in revenue and their prices differ from quarter to quarter. There are also major sources of volatility, such as materials and equipment prices and foreign exchange rates, which cause profitability to fluctuate accordingly. In addition to increases and decreases resulting from the quarterly reassessment of provisions for construction losses covering all vessels in the order backlog, new provisions may also be recorded in connection with new orders. For these reasons, first-quarter performance does not necessarily correspond to full-year performance.」
The company reconfirms the structural fact that quarterly and full-year performance do not necessarily correspond due to quarterly changes in vessel numbers, vessel types, vessel prices, materials and equipment prices, foreign exchange rates and provisions for construction losses. - FY2017-Q3RestatedAnnual report
「In the core Newbuildings business, the number and types of vessels included in revenue and their prices differ from quarter to quarter. There are also major sources of volatility, such as materials and equipment prices and foreign exchange rates, which cause profitability to fluctuate accordingly. In addition to increases and decreases resulting from the quarterly reassessment of provisions for construction losses covering all vessels in the order backlog, new provisions may also be recorded in connection with new orders. For these reasons, third-quarter performance does not necessarily correspond to full-year performance.」
The company reconfirms the structural fact that quarterly and full-year performance do not necessarily correspond due to quarterly changes in vessel numbers, vessel types, vessel prices, materials and equipment prices, foreign exchange rates and provisions for construction losses. - FY2017-Q2First statedAnnual report
「In the core Newbuildings business, the number and types of vessels included in revenue and their prices differ from quarter to quarter. There are also major sources of volatility, such as materials and equipment prices and foreign exchange rates, which cause profitability to fluctuate accordingly. In addition to increases and decreases resulting from the quarterly reassessment of provisions for construction losses covering all vessels in the order backlog, new provisions may also be recorded in connection with new orders. For these reasons, second-quarter performance does not necessarily correspond to full-year performance.」
The Newbuildings business has a structural characteristic whereby quarterly and full-year performance do not necessarily correspond, due to quarterly changes in the number and types of vessels, vessel prices, materials and equipment prices, foreign exchange rates and provisions for construction losses.