Sino International Logistics Company N. V.
SILC N.V. reports half year results of its subsidiary Shanghai Haohai Management Co., Ltd
Sino International Logistic Company N.V. / Half Year Results/Half Year Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Maastricht, November 04, 2008 – Sino International Logistic Company N.V. (SILC N.V.), is pleased to announce the reviewed half year results 2008 of its 100% subsidiary Shanghai Haohai Enterprise Management Co., Ltd. (SHEMC). SHEMC has generated revenues of RMB 16m (EUR 1.8m) for the first half year of 2008. The gross profit margin is 49% with a gross profit of RMB 7.9m (EUR 0.9m). The operating income (EBIT) for the first half year was RMB 7.1m (EUR 0.8m). These figures represent a revenue growth of more than 50% and an increase in operating income of around 50% compared to the 1st half year results of 2007. The new business line, pretreatment services, which was introduced at the beginning of the year, already generated revenues of RMB 5.8m (EUR 0.6m) in the first six month of business. This service was introduced in response to customers’ requirements and several partnership agreements. The service conducts a special treatment and processing of rust removal and antirust. On a daily base, this service processes up to 15 000 square meters of steel plates. Warehousing services accounted for RMB 10.2m (EUR 1.1m) within the first six months. Furthermore, in July 2008, SILC N.V. introduced its new business line, chemical goods logistics service. In cooperation with Shanghai S&W Dangerous Chemical Transportation Co. Ltd. which holds the permit for dangerous chemical operations and integrated dangerous cargo logistics. Due to Chinese New Year, the performance in the first half year is always weaker than in the second half. Thus the management is very pleased with the results of the first six months and the company’s developments so far. Overall, SILC N.V. expects SHEMC to reach its revenue target of RMB 45 m (EUR 5.2m) and to produce an EBIT of RMB 21m (EUR 2.4m). Please note that the original reporting currency of SHEMC is RMB. The outline of the figures in EUR is only for the readers’ convenience and the applied exchange rate may differ over time. For further information on SILC N.V. please refer to the company’s website www.silc-nv.com or contact our investor relations team directly: Corporate Communication Sino International Logistic Company N.V. Germany T: +49-89-24 41 18-414 F: +49-89-24 41 18-499 E: ir@silc-nv.com About SILC N.V. (Sino International Logistic Company N.V) Sino International Logistic Company N.V. is a Dutch-based holding company that focuses on investments and the operation of logistics business throughout China. The company strives to become a multi-function logistics company by providing a comprehensive logistics services portfolio. 04.11.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Sino International Logistic Company N.V. Kruisdonk 66 6222 PH Maastricht Niederlande Phone: - Fax: - E-mail: kirstin.thon@theascendogroup.com Internet: www.silcglobal.com ISIN: NL0000871044 WKN: A0MR5W Listed: Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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