Shenzhen Expressway Corporation Limited (HKG: 0548)

Shenzhen Expressway Corporation Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	6,482	6,993	6,736	7,704	6,907	5,321
Other Revenue	2,302	2,302	2,637	3,186	1,119	1,069
Revenue	8,784	9,295	9,373	10,890	8,027	6,390
Revenue Growth (YoY)	-3.45%	-0.82%	-13.93%	35.67%	25.61%	10.04%
Cost of Revenue	5,867	6,082	6,453	7,116	5,215	3,586
Gross Profit	2,917	3,214	2,920	3,774	2,812	2,805
Selling, General & Admin	488.56	502.97	479.29	631.55	416.14	378.23
Research & Development	36.7	33.48	46.48	60.57	58.69	18.47
Other Operating Expenses	47.71	19.56	34.66	74.11	55.3	46.6
Operating Expenses	713.78	618.28	622.18	791.52	578.34	450.26
Operating Income	2,203	2,595	2,298	2,982	2,234	2,354
Interest Expense	-1,168	-1,230	-1,185	-1,140	-697.48	-617.93
Interest & Investment Income	1,717	1,576	1,664	1,147	999.34	1,296
Currency Exchange Gain (Loss)	-72.78	-72.78	-318.16	66.5	154.94	-33.4
Other Non Operating Income (Expenses)	177.18	-46.76	-35.01	2.02	-12.14	-3.62
EBT Excluding Unusual Items	2,857	2,822	2,424	3,058	2,678	2,995
Impairment of Goodwill	-	-	-46.04	-110	-	-
Gain (Loss) on Sale of Investments	29.18	153.61	95.18	348.27	-2.34	81.09
Gain (Loss) on Sale of Assets	1.41	13.65	7.3	17.39	0.07	0.39
Asset Writedown	-3.08	-	-19.05	-14.75	-	-552
Other Unusual Items	-58.62	-73.75	23.61	58.23	33.32	15.8
Pretax Income	2,825	2,916	2,485	3,357	2,709	2,541
Income Tax Expense	497.52	529.8	529.32	551.15	473.91	-68.08
Earnings From Continuing Operations	2,328	2,386	1,955	2,806	2,236	2,609
Minority Interest in Earnings	-165.58	-58.63	61.29	-192.84	-181.03	-44.36
Net Income	2,162	2,327	2,016	2,613	2,055	2,564
Net Income to Common	2,162	2,327	2,016	2,613	2,055	2,564
Net Income Growth	40.67%	15.41%	-22.83%	27.19%	-19.88%	-25.46%
Shares Outstanding (Basic)	2,393	2,370	2,403	2,348	2,195	2,181
Shares Outstanding (Diluted)	2,393	2,370	2,403	2,348	2,195	2,181
Shares Change (YoY)	-2.06%	-1.40%	2.37%	6.96%	0.65%	-
EPS (Basic)	0.90	0.98	0.84	1.11	0.94	1.18
EPS (Diluted)	0.90	0.98	0.84	1.11	0.94	1.18
EPS Growth	43.63%	17.04%	-24.62%	18.91%	-20.40%	-25.44%
Free Cash Flow	1,516	1,999	1,278	-41.22	-1,383	73.65
Free Cash Flow Per Share	0.63	0.84	0.53	-0.02	-0.63	0.03
Dividend Per Share	0.550	0.550	0.462	0.620	0.430	0.520
Dividend Growth	19.05%	19.05%	-25.48%	44.19%	-17.31%	44.44%
Gross Margin	33.21%	34.57%	31.15%	34.66%	35.03%	43.89%
Operating Margin	25.08%	27.92%	24.52%	27.39%	27.83%	36.84%
Profit Margin	24.62%	25.04%	21.51%	24.00%	25.60%	40.13%
Free Cash Flow Margin	17.26%	21.51%	13.64%	-0.38%	-17.23%	1.15%
EBITDA	4,560	4,888	4,505	5,216	3,968	3,872
EBITDA Margin	51.92%	52.59%	48.07%	47.90%	49.44%	60.59%
D&A For EBITDA	2,357	2,293	2,208	2,234	1,734	1,517
EBIT	2,203	2,595	2,298	2,982	2,234	2,354
EBIT Margin	25.08%	27.92%	24.52%	27.39%	27.83%	36.84%
Effective Tax Rate	17.61%	18.17%	21.30%	16.42%	17.49%	-
Revenue as Reported	-	-	-	10,890	-	-
Advertising Expenses	-	2.58	4.27	8.6	1.12	-

Source: S&P Capital IQ. Standard template. Financial Sources.