China Railway Group Limited (HKG:0390)

China Railway Group Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	1,104,416	1,149,036	1,251,994	1,145,706	1,066,131	967,636
Other Revenue	11,671	11,276	11,480	8,653	7,141	7,113
Revenue	1,116,087	1,160,311	1,263,475	1,154,358	1,073,272	974,749
Revenue Growth (YoY)	-6.93%	-8.16%	9.45%	7.56%	10.11%	14.56%
Cost of Revenue	1,004,500	1,043,161	1,133,510	1,039,372	964,696	879,484
Gross Profit	111,587	117,150	129,965	114,986	108,575	95,265
Selling, General & Admin	29,746	33,125	36,216	32,765	31,256	28,256
Research & Development	24,217	26,632	30,000	27,742	24,756	21,838
Other Operating Expenses	6,150	5,724	4,700	6,605	5,909	5,686
Operating Expenses	65,167	69,557	76,459	69,003	66,567	56,649
Operating Income	46,420	47,594	53,506	45,983	42,008	38,616
Interest Expense	-14,056	-13,346	-12,511	-9,826	-7,907	-7,562
Interest & Investment Income	6,268	7,875	8,712	8,344	5,673	3,595
Currency Exchange Gain (Loss)	96.84	96.84	-132.49	566.38	-80.38	-45.31
Other Non Operating Income (Expenses)	-3,374	-3,282	-3,104	-2,321	-962.35	-2,735
EBT Excluding Unusual Items	35,355	38,937	46,470	42,747	38,732	31,868
Impairment of Goodwill	-198.1	-198.1	-125.13	-	-	-
Gain (Loss) on Sale of Investments	-2,033	-1,692	-814.03	-1,088	-1,096	146.09
Gain (Loss) on Sale of Assets	470.31	482.43	476.59	510.11	426.17	588.93
Asset Writedown	559.96	162.14	-32.37	-578.04	-179.6	-138.01
Legal Settlements	-57.45	-57.45	-192.71	-460.07	-94.7	-207.25
Other Unusual Items	1,084	1,039	85.46	1,389	-389.03	960.27
Pretax Income	35,379	38,871	46,070	42,583	37,586	33,383
Income Tax Expense	7,864	8,113	8,433	7,617	7,117	6,134
Earnings From Continuing Operations	27,515	30,758	37,636	34,967	30,470	27,249
Minority Interest in Earnings	-2,708	-2,871	-4,154	-3,694	-2,852	-2,062
Net Income	24,807	27,887	33,483	31,273	27,618	25,188
Preferred Dividends & Other Adjustments	1,179	1,179	1,697	1,832	2,149	1,520
Net Income to Common	23,629	26,708	31,785	29,441	25,468	23,668
Net Income Growth	-17.42%	-16.71%	7.07%	13.23%	9.65%	6.38%
Shares Outstanding (Basic)	25,374	24,619	24,571	24,571	24,571	24,571
Shares Outstanding (Diluted)	25,417	24,663	24,616	24,584	24,571	24,571
Shares Change (YoY)	3.45%	0.19%	0.13%	0.05%	-	5.56%
EPS (Basic)	0.93	1.08	1.29	1.20	1.04	0.96
EPS (Diluted)	0.93	1.08	1.29	1.20	1.04	0.96
EPS Growth	-19.41%	-16.13%	7.87%	15.58%	7.63%	1.37%
Free Cash Flow	-20,927	-29,951	-20,082	-18,756	-42,904	-12,297
Free Cash Flow Per Share	-0.82	-1.21	-0.82	-0.76	-1.75	-0.50
Dividend Per Share	0.178	0.178	0.210	0.200	0.196	0.180
Dividend Growth	-15.24%	-15.24%	5.00%	2.04%	8.89%	6.51%
Gross Margin	10.00%	10.10%	10.29%	9.96%	10.12%	9.77%
Operating Margin	4.16%	4.10%	4.23%	3.98%	3.91%	3.96%
Profit Margin	2.12%	2.30%	2.52%	2.55%	2.37%	2.43%
Free Cash Flow Margin	-1.88%	-2.58%	-1.59%	-1.63%	-4.00%	-1.26%
EBITDA	59,152	59,935	65,325	56,423	51,918	48,098
EBITDA Margin	5.30%	5.17%	5.17%	4.89%	4.84%	4.93%
D&A For EBITDA	12,733	12,341	11,820	10,439	9,910	9,483
EBIT	46,420	47,594	53,506	45,983	42,008	38,616
EBIT Margin	4.16%	4.10%	4.23%	3.98%	3.91%	3.96%
Effective Tax Rate	22.23%	20.87%	18.31%	17.89%	18.93%	18.37%
Revenue as Reported	1,116,087	1,160,311	1,263,475	1,154,358	1,073,272	974,749

Source: S&P Global Market Intelligence. Standard template. Financial Sources.