Tencent Music Entertainment Group (HKG:1698)

HKG:1698 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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	28,989	28,401	27,752	28,339	31,244	29,153
Revenue Growth (YoY)	5.35%	2.34%	-2.07%	-9.30%	7.17%	14.62%
Cost of Revenue	16,493	16,376	17,957	19,566	21,840	19,851
Gross Profit	12,496	12,025	9,795	8,773	9,404	9,302
Selling, General & Admin	4,683	4,676	5,018	5,557	6,687	5,576
Other Operating Expenses	-2,615	-221	-222	-334	-423	-315
Operating Expenses	2,068	4,455	4,796	5,223	6,264	5,261
Operating Income	10,428	7,570	4,999	3,550	3,140	4,041
Interest Expense	-119	-124	-124	-115	-120	-99
Interest & Investment Income	1,232	1,213	1,067	725	557	622
Earnings From Equity Investments	137	96	127	38	-47	19
Currency Exchange Gain (Loss)	30	30	-17	7	-1	2
EBT Excluding Unusual Items	11,708	8,785	6,052	4,205	3,529	4,585
Gain (Loss) on Sale of Investments	-52	-52	-23	26	105	-4
Gain (Loss) on Sale of Assets	-50	-50	12	1	-10	32
Other Unusual Items	29	29	4	141	8	19
Pretax Income	11,635	8,712	6,045	4,373	3,632	4,632
Income Tax Expense	1,668	1,603	825	534	417	456
Earnings From Continuing Operations	9,967	7,109	5,220	3,839	3,215	4,176
Minority Interest in Earnings	-454	-465	-300	-162	-186	-21
Net Income	9,513	6,644	4,920	3,677	3,029	4,155
Net Income to Common	9,513	6,644	4,920	3,677	3,029	4,155
Net Income Growth	83.15%	35.04%	33.80%	21.39%	-27.10%	4.35%
Shares Outstanding (Basic)	1,539	1,542	1,561	1,602	1,661	1,657
Shares Outstanding (Diluted)	1,562	1,565	1,584	1,617	1,682	1,680
Shares Change (YoY)	-1.09%	-1.18%	-2.04%	-3.82%	0.08%	0.39%
EPS (Basic)	6.18	4.31	3.15	2.30	1.82	2.51
EPS (Diluted)	6.08	4.24	3.10	2.28	1.80	2.48
EPS Growth	84.42%	36.77%	35.97%	26.67%	-27.42%	4.20%
Free Cash Flow	9,789	9,956	7,172	7,396	5,080	4,777
Free Cash Flow Per Share	6.27	6.36	4.53	4.57	3.02	2.84
Dividend Per Share	1.314	1.314	0.972	-	-	-
Dividend Growth	35.23%	35.23%	-	-	-	-
Gross Margin	43.11%	42.34%	35.30%	30.96%	30.10%	31.91%
Operating Margin	35.97%	26.65%	18.01%	12.53%	10.05%	13.86%
Profit Margin	32.82%	23.39%	17.73%	12.97%	9.70%	14.25%
Free Cash Flow Margin	33.77%	35.05%	25.84%	26.10%	16.26%	16.39%
EBITDA	11,144	8,287	5,719	4,710	4,141	4,779
EBITDA Margin	38.44%	29.18%	20.61%	16.62%	13.25%	16.39%
D&A For EBITDA	716.25	717	720	1,160	1,001	738
EBIT	10,428	7,570	4,999	3,550	3,140	4,041
EBIT Margin	35.97%	26.65%	18.01%	12.53%	10.05%	13.86%
Effective Tax Rate	14.34%	18.40%	13.65%	12.21%	11.48%	9.84%
Revenue as Reported	28,989	28,401	27,752	28,339	31,244	29,153
Advertising Expenses	-	611	603	852	2,387	2,227

Updated Mar 18, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.