Shenzhen Airport Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Operating Revenue	4,918	4,544	4,021	2,557	3,161	2,878
Other Revenue	195.14	195.14	143.68	114.45	144.6	118.37
Revenue	5,113	4,739	4,165	2,671	3,306	2,997
Revenue Growth (YoY)	11.45%	13.80%	55.91%	-19.19%	10.31%	-21.27%
Cost of Revenue	3,937	3,730	3,718	3,611	3,031	2,808
Gross Profit	1,177	1,009	446.43	-939.85	274.87	189.13
Selling, General & Admin	144.33	150.79	146.78	143.64	149.52	142.34
Research & Development	0.34	0.34	-	-	-	-
Other Operating Expenses	100.32	73.67	15.26	21.41	79.94	59.17
Operating Expenses	241.51	228.08	182.78	164.98	234.01	199.58
Operating Income	935.48	781.02	263.65	-1,105	40.87	-10.45
Interest Expense	-352.03	-345.76	-381.92	-380.35	-156.26	-0.69
Interest & Investment Income	159.56	139.71	93.77	21.31	88.12	68.9
Currency Exchange Gain (Loss)	0.34	0.34	0.42	2.02	-0.51	-1.55
Other Non Operating Income (Expenses)	3.7	1.95	-7.42	-0.16	-0.29	-0.1
EBT Excluding Unusual Items	747.05	577.26	-31.49	-1,462	-28.08	56.11
Gain (Loss) on Sale of Investments	2.09	4.23	5.24	23.67	-	-
Gain (Loss) on Sale of Assets	-2.27	0.11	430.8	-	2.21	-12.18
Asset Writedown	-4.4	-4.4	-5.33	-6.66	-25.14	-
Legal Settlements	-0.65	-0.65	-14.92	-7.86	-0.58	-0.91
Other Unusual Items	20.68	2.91	148.97	16.81	25	9.75
Pretax Income	762.51	579.46	533.26	-1,436	-26.59	52.77
Income Tax Expense	179.09	137.47	133.82	-326.5	-6.5	14.29
Earnings From Continuing Operations	583.42	441.99	399.44	-1,110	-20.09	38.47
Minority Interest in Earnings	0.85	1.05	-2.75	-14.42	-14.35	-10.4
Net Income	584.27	443.04	396.69	-1,124	-34.44	28.07
Net Income to Common	584.27	443.04	396.69	-1,124	-34.44	28.07
Net Income Growth	4.41%	11.68%	-	-	-	-95.27%
Shares Outstanding (Basic)	2,051	2,051	2,051	2,051	2,050	2,049
Shares Outstanding (Diluted)	2,051	2,051	2,051	2,051	2,050	2,049
Shares Change (YoY)	0.03%	-0.00%	0.03%	0.03%	0.04%	-0.08%
EPS (Basic)	0.28	0.22	0.19	-0.55	-0.02	0.01
EPS (Diluted)	0.28	0.22	0.19	-0.55	-0.02	0.01
EPS Growth	4.37%	11.69%	-	-	-	-95.27%
Free Cash Flow	1,443	1,389	561.05	-486.06	-585.53	-2,375
Free Cash Flow Per Share	0.70	0.68	0.27	-0.24	-0.29	-1.16
Dividend Per Share	0.120	0.120	0.100	-	0.030	-
Dividend Growth	20.00%	20.00%	-	-	-	-
Gross Margin	23.02%	21.29%	10.72%	-35.19%	8.31%	6.31%
Operating Margin	18.29%	16.48%	6.33%	-41.36%	1.24%	-0.35%
Profit Margin	11.43%	9.35%	9.53%	-42.08%	-1.04%	0.94%
Free Cash Flow Margin	28.21%	29.32%	13.47%	-18.20%	-17.71%	-79.25%
EBITDA	1,629	1,554	1,142	-175.05	538.7	411.91
EBITDA Margin	31.86%	32.79%	27.43%	-6.55%	16.30%	13.74%
D&A For EBITDA	693.95	773.12	878.67	929.77	497.83	422.37
EBIT	935.48	781.02	263.65	-1,105	40.87	-10.45
EBIT Margin	18.29%	16.48%	6.33%	-41.36%	1.24%	-0.35%
Effective Tax Rate	23.49%	23.72%	25.09%	-	-	27.09%
Revenue as Reported	5,113	4,739	4,165	2,671	3,306	2,997
Advertising Expenses	-	0.86	0.09	1.38	2.37	1.95

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.