Tsingtao Brewery Company Limited (TSGTF)

Tsingtao Brewery Company 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	31,579	33,406	31,697	29,673	27,338
Other Revenue	558.97	530.73	474.22	494.11	421.73
Revenue	32,138	33,937	32,172	30,167	27,760
Revenue Growth (YoY)	-5.30%	5.49%	6.65%	8.67%	-0.80%
Cost of Revenue	19,293	20,892	20,402	19,183	18,018
Gross Profit	12,845	13,045	11,769	10,984	9,742
Selling, General & Admin	5,968	6,204	5,619	5,728	5,204
Research & Development	82.54	79.89	62.95	30.89	21.47
Other Operating Expenses	2,296	2,387	2,391	2,319	2,219
Operating Expenses	8,347	8,670	8,072	8,077	7,443
Operating Income	4,498	4,375	3,697	2,907	2,299
Interest Expense	-21.84	-16.43	-9.24	-29.09	-19.13
Interest & Investment Income	734.56	678.42	629.57	501.71	549.27
Currency Exchange Gain (Loss)	-2.55	-2.86	12.2	-8.72	-11.85
Other Non Operating Income (Expenses)	-2.22	-17.79	-0.93	-17.64	-3.53
EBT Excluding Unusual Items	5,206	5,016	4,329	3,353	2,814
Gain (Loss) on Sale of Investments	199.52	230.26	164.35	253.44	55.09
Gain (Loss) on Sale of Assets	4.27	178.58	-9.52	481.51	-5.2
Asset Writedown	-35.75	-79.53	-26.12	-189.06	-130.55
Other Unusual Items	507.65	400.7	548.5	579.96	506.51
Pretax Income	5,881	5,746	5,006	4,479	3,240
Income Tax Expense	1,390	1,398	1,201	1,223	912.58
Earnings From Continuing Operations	4,492	4,348	3,805	3,256	2,327
Minority Interest in Earnings	-146.79	-80.35	-94.09	-100.79	-125.65
Net Income	4,345	4,268	3,711	3,155	2,201
Preferred Dividends & Other Adjustments	0.19	7.97	9.78	10.03	-
Net Income to Common	4,345	4,260	3,701	3,145	2,201
Net Income Growth	1.81%	15.02%	17.59%	43.34%	18.86%
Shares Outstanding (Basic)	1,362	1,357	1,353	1,351	1,351
Shares Outstanding (Diluted)	1,363	1,362	1,360	1,358	1,353
Shares Change (YoY)	0.07%	0.15%	0.18%	0.38%	0.13%
EPS (Basic)	3.19	3.14	2.74	2.33	1.63
EPS (Diluted)	3.19	3.13	2.73	2.32	1.63
EPS Growth	1.73%	14.84%	17.38%	42.82%	18.68%
Free Cash Flow	3,014	1,160	3,099	4,408	3,658
Free Cash Flow Per Share	2.21	0.85	2.28	3.25	2.70
Dividend Per Share	2.200	2.000	1.300	1.100	0.750
Dividend Growth	10.00%	53.85%	18.18%	46.67%	36.36%
Gross Margin	39.97%	38.44%	36.58%	36.41%	35.09%
Operating Margin	14.00%	12.89%	11.49%	9.64%	8.28%
Profit Margin	13.52%	12.55%	11.50%	10.43%	7.93%
Free Cash Flow Margin	9.38%	3.42%	9.63%	14.61%	13.18%
EBITDA	5,543	5,393	4,678	3,923	3,364
EBITDA Margin	17.25%	15.89%	14.54%	13.00%	12.12%
D&A For EBITDA	1,045	1,018	980.37	1,016	1,065
EBIT	4,498	4,375	3,697	2,907	2,299
EBIT Margin	14.00%	12.89%	11.49%	9.64%	8.28%
Effective Tax Rate	23.63%	24.33%	24.00%	27.30%	28.17%
Revenue as Reported	-	-	32,172	30,167	-
Advertising Expenses	1,477	1,639	1,278	1,170	912.16

Updated Oct 29, 2024. Source: S&P Global Market Intelligence. Standard template. Financial Sources.