Shenzhen Expressway Corporation Limited (SHA:600548)

SHA:600548 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	6,462	6,993	6,736	7,704	6,907
Other Revenue	2,783	2,302	2,637	3,186	1,119
Revenue	9,246	9,295	9,373	10,890	8,027
Revenue Growth (YoY)	-0.53%	-0.83%	-13.93%	35.67%	25.61%
Cost of Revenue	6,489	6,082	6,453	7,116	5,215
Gross Profit	2,757	3,214	2,920	3,774	2,812
Selling, General & Admin	472.76	502.97	479.29	631.55	416.14
Research & Development	32.93	33.48	46.48	60.57	58.69
Other Operating Expenses	40.43	19.56	34.66	74.11	55.3
Operating Expenses	640.08	618.28	622.18	791.52	578.34
Operating Income	2,117	2,595	2,298	2,982	2,234
Interest Expense	-1,060	-1,230	-1,185	-1,140	-697.48
Interest & Investment Income	1,100	1,576	1,664	1,147	999.34
Currency Exchange Gain (Loss)	-46.18	-72.78	-318.16	66.5	154.94
Other Non Operating Income (Expenses)	-112.87	-46.76	-35.01	2.02	-12.14
EBT Excluding Unusual Items	1,998	2,822	2,424	3,058	2,678
Impairment of Goodwill	-	-	-46.04	-110	-
Gain (Loss) on Sale of Investments	2.64	153.61	95.18	348.27	-2.34
Gain (Loss) on Sale of Assets	8.83	13.65	7.3	17.39	0.07
Asset Writedown	-219.8	-	-19.05	-14.75	-
Other Unusual Items	-31.06	-73.75	23.61	58.23	33.32
Pretax Income	1,758	2,916	2,485	3,357	2,709
Income Tax Expense	540.21	529.8	529.32	551.15	473.91
Earnings From Continuing Operations	1,218	2,386	1,955	2,806	2,236
Minority Interest in Earnings	-73.16	-58.63	61.29	-192.84	-181.03
Net Income	1,145	2,327	2,016	2,613	2,055
Net Income to Common	1,145	2,327	2,016	2,613	2,055
Net Income Growth	-50.80%	15.41%	-22.83%	27.19%	-19.88%
Shares Outstanding (Basic)	2,596	2,370	2,403	2,348	2,195
Shares Outstanding (Diluted)	2,596	2,370	2,403	2,348	2,195
Shares Change (YoY)	9.56%	-1.40%	2.37%	6.96%	0.65%
EPS (Basic)	0.44	0.98	0.84	1.11	0.94
EPS (Diluted)	0.44	0.98	0.84	1.11	0.94
EPS Growth	-55.09%	17.04%	-24.62%	18.91%	-20.40%
Free Cash Flow	1,658	1,999	1,278	-41.22	-1,383
Free Cash Flow Per Share	0.64	0.84	0.53	-0.02	-0.63
Dividend Per Share	0.244	0.550	0.462	0.620	0.430
Dividend Growth	-55.64%	19.05%	-25.48%	44.19%	-17.31%
Gross Margin	29.82%	34.57%	31.15%	34.66%	35.03%
Operating Margin	22.89%	27.92%	24.52%	27.39%	27.83%
Profit Margin	12.38%	25.04%	21.52%	24.00%	25.60%
Free Cash Flow Margin	17.93%	21.51%	13.64%	-0.38%	-17.23%
EBITDA	4,370	4,897	4,505	5,216	3,968
EBITDA Margin	47.26%	52.68%	48.07%	47.90%	49.44%
D&A For EBITDA	2,253	2,302	2,208	2,234	1,734
EBIT	2,117	2,595	2,298	2,982	2,234
EBIT Margin	22.89%	27.92%	24.52%	27.39%	27.83%
Effective Tax Rate	30.72%	18.17%	21.30%	16.42%	17.49%
Revenue as Reported	9,246	9,295	-	10,890	-
Advertising Expenses	1.59	2.58	4.27	8.6	1.12

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