COSCO SHIPPING Development Co., Ltd. (CITAF)

CITAF Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	27,627	15,583	25,465	36,330	20,127
Other Revenue	-	102.25	169.11	838.08	92.73
Revenue	27,627	15,685	25,634	37,168	20,220
Revenue Growth (YoY)	76.14%	-38.81%	-31.03%	83.82%	42.10%
Cost of Revenue	22,809	10,888	18,717	26,315	15,051
Gross Profit	4,818	4,797	6,917	10,854	5,169
Selling, General & Admin	1,114	1,201	1,135	1,525	1,282
Research & Development	61.06	86.95	94.18	74.34	21.58
Other Operating Expenses	7.65	29.32	75.51	148.01	69.67
Operating Expenses	1,183	1,344	1,273	1,680	1,363
Operating Income	3,635	3,453	5,643	9,174	3,807
Interest Expense	-	-3,894	-2,478	-1,665	-2,233
Interest & Investment Income	1,882	1,805	1,924	1,493	2,588
Currency Exchange Gain (Loss)	-	286.43	1,150	-366.16	-214.44
Other Non Operating Income (Expenses)	-3,606	-152.6	-266.46	-1,134	-691.67
EBT Excluding Unusual Items	1,912	1,498	5,973	7,501	3,255
Gain (Loss) on Sale of Investments	-170.24	67.52	-996.86	321.89	-206.22
Gain (Loss) on Sale of Assets	23.67	21.28	56.76	7.55	21.58
Asset Writedown	-4.02	-310.19	-251.64	-13.6	-722.52
Other Unusual Items	-	105.87	45.27	99.84	128.72
Pretax Income	1,761	1,383	4,826	7,916	2,477
Income Tax Expense	125.07	-26.62	904.21	1,826	335.86
Earnings From Continuing Operations	1,636	1,409	3,922	6,091	2,141
Minority Interest in Earnings	49.78	-	-	-	-
Net Income	1,686	1,409	3,922	6,091	2,141
Net Income to Common	1,686	1,409	3,922	6,091	2,141
Net Income Growth	19.65%	-64.07%	-35.60%	184.49%	22.82%
Shares Outstanding (Basic)	13,531	13,536	13,520	12,233	13,671
Shares Outstanding (Diluted)	13,531	13,536	13,520	12,245	13,671
Shares Change (YoY)	-0.04%	0.12%	10.42%	-10.43%	0.63%
EPS (Basic)	0.12	0.10	0.29	0.50	0.16
EPS (Diluted)	0.12	0.10	0.29	0.50	0.16
EPS Growth	19.69%	-64.12%	-41.68%	217.63%	22.06%
Free Cash Flow	-3,211	-433.22	110.19	-19,752	-24,313
Free Cash Flow Per Share	-0.24	-0.03	0.01	-1.61	-1.78
Dividend Per Share	-	0.032	0.087	0.226	0.056
Dividend Growth	-	-63.22%	-61.50%	303.57%	24.44%
Gross Margin	17.44%	30.58%	26.98%	29.20%	25.56%
Operating Margin	13.16%	22.02%	22.02%	24.68%	18.83%
Profit Margin	6.10%	8.98%	15.30%	16.39%	10.59%
Free Cash Flow Margin	-11.62%	-2.76%	0.43%	-53.14%	-120.24%
EBITDA	6,322	5,878	7,909	11,287	7,209
EBITDA Margin	22.88%	37.48%	30.85%	30.37%	35.66%
D&A For EBITDA	2,687	2,425	2,265	2,113	3,403
EBIT	3,635	3,453	5,643	9,174	3,807
EBIT Margin	13.16%	22.02%	22.02%	24.68%	18.83%
Effective Tax Rate	7.10%	-	18.73%	23.06%	13.56%
Revenue as Reported	-	15,685	25,634	37,168	20,220

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