COSCO SHIPPING Specialized Carriers Co.,Ltd. (SHA:600428)

SHA:600428 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
Operating Revenue	17,118	15,352	11,166	11,423	8,159	6,597
Other Revenue	1,428	1,428	1,031	784.01	594.44	443.61
Revenue	18,546	16,780	12,197	12,207	8,753	7,040
Revenue Growth (YoY)	46.81%	37.57%	-0.08%	39.46%	24.33%	-14.83%
Cost of Revenue	14,760	13,123	10,062	9,529	6,840	5,987
Gross Profit	3,786	3,657	2,135	2,678	1,914	1,053
Selling, General & Admin	1,052	1,052	914.76	762.22	682.36	593.64
Research & Development	145.94	145.94	97.98	98.1	38.85	22.44
Other Operating Expenses	25.11	25.11	20.14	26.05	28.39	28.16
Operating Expenses	1,227	1,227	1,037	902.44	743.98	632.62
Operating Income	2,559	2,430	1,098	1,776	1,170	420.61
Interest Expense	-493.1	-493.1	-390.47	-270.79	-210.21	-249.27
Interest & Investment Income	222.09	222.09	139.05	55.4	52.98	34.64
Currency Exchange Gain (Loss)	37.96	37.96	37.76	1.34	-8.62	-24.45
Other Non Operating Income (Expenses)	-31.34	-32.45	-10.01	-43.67	-43.81	-60.72
EBT Excluding Unusual Items	2,294	2,165	874.34	1,518	959.97	120.81
Gain (Loss) on Sale of Investments	-308.54	-308.54	81.09	35.41	3.17	9.86
Gain (Loss) on Sale of Assets	62.98	62.98	115.49	55.91	4.15	49.12
Asset Writedown	-21.24	-21.24	-	-514.3	-516.34	-109.48
Legal Settlements	-	-	-	-47.1	-	-
Other Unusual Items	79.75	79.75	128.62	19.74	15.39	81.08
Pretax Income	2,107	1,977	1,200	1,068	466.35	151.39
Income Tax Expense	257.74	243.57	116.54	240.43	159.73	24.92
Earnings From Continuing Operations	1,850	1,734	1,083	827.16	306.62	126.47
Minority Interest in Earnings	-203.33	-203.33	-18.76	-5.82	-6.29	-1.01
Net Income	1,646	1,531	1,064	821.34	300.33	125.46
Net Income to Common	1,646	1,531	1,064	821.34	300.33	125.46
Net Income Growth	61.74%	43.82%	29.58%	173.48%	139.38%	24.31%
Shares Outstanding (Basic)	2,316	2,147	2,146	2,144	2,145	2,163
Shares Outstanding (Diluted)	2,316	2,147	2,146	2,144	2,145	2,163
Shares Change (YoY)	7.71%	0.05%	0.06%	-0.03%	-0.83%	0.73%
EPS (Basic)	0.71	0.71	0.50	0.38	0.14	0.06
EPS (Diluted)	0.71	0.71	0.50	0.38	0.14	0.06
EPS Growth	50.16%	43.75%	29.50%	173.57%	141.38%	23.40%
Free Cash Flow	-	2,980	907.28	1,511	843.3	868.4
Free Cash Flow Per Share	-	1.39	0.42	0.70	0.39	0.40
Dividend Per Share	0.279	0.279	0.248	0.160	0.050	0.020
Dividend Growth	12.50%	12.50%	55.00%	220.00%	150.00%	-
Gross Margin	20.41%	21.79%	17.51%	21.94%	21.86%	14.96%
Operating Margin	13.80%	14.48%	9.00%	14.55%	13.36%	5.97%
Profit Margin	8.88%	9.12%	8.72%	6.73%	3.43%	1.78%
Free Cash Flow Margin	-	17.76%	7.44%	12.38%	9.63%	12.34%
EBITDA	3,499	3,362	1,996	2,660	2,006	1,286
EBITDA Margin	18.87%	20.04%	16.36%	21.79%	22.91%	18.26%
D&A For EBITDA	940.37	931.86	897.81	883.98	836.02	865.21
EBIT	2,559	2,430	1,098	1,776	1,170	420.61
EBIT Margin	13.80%	14.48%	9.00%	14.55%	13.36%	5.97%
Effective Tax Rate	12.23%	12.32%	9.71%	22.52%	34.25%	16.46%
Revenue as Reported	16,780	16,780	12,197	12,207	8,753	7,040
Advertising Expenses	-	13.87	12.02	3.51	1.59	1.58

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