With the growth of global cargo volume and the increase in freight rates, COSCO Ship Hold expects a 72% year-on-year increase in net profit for Q1 | Financial Report Insights
I'm LongbridgeAI. Here is the key information I extracted- The company attributed this growth to a steady increase in global container cargo volume and a rise in the China Containerized Freight Index (CCFI) during the same period. …
COSCO Ship Hold's net profit for the first quarter reached 13.223 billion yuan, a year-on-year increase of 72.13%; the net profit attributable to shareholders was 11.689 billion yuan, a year-on-year increase of 73.04%. The company stated that in the first quarter of 2025, the global container cargo volume still maintained a certain growth compared to the same period last year, and the average comprehensive index of China's export container freight rates (CCFI) also achieved an increase year-on-year.
On April 7, COSCO Ship Hold announced its performance forecast for Q1 2025:
- Q1 net profit reached 13.223 billion yuan, a year-on-year increase of 72.13%;
- Net profit attributable to shareholders was 11.689 billion yuan, a year-on-year increase of 73.04%;
- Earnings Before Interest and Taxes (EBIT) was 16.571 billion yuan, a year-on-year increase of 66.09%.
Regarding the main reasons for the performance forecast increase, COSCO Ship Hold stated, In the first quarter of 2025, the global container cargo volume still maintained a certain growth compared to the same period last year, and the average comprehensive index of China's export container freight rates (CCFI) also achieved an increase year-on-year. COSCO Ship Hold has made a good start in its business development for 2025.
COSCO Ship Hold's net profit for 2024 increased by 105.78% year-on-year
On March 21, the company announced its 2024 performance:
- The company's operating revenue for the fourth quarter was 59.122 billion yuan, a decrease compared to the third quarter;
- The net profit attributable to shareholders of the listed company was 10.976 billion yuan, a decrease of about 10.278 billion yuan compared to the third quarter;
- Cash flow was 17.619 billion yuan, a decrease of about 11.420 billion yuan compared to the third quarter.
For the entire year of 2024, the company achieved revenue of 233.859 billion yuan, a year-on-year increase of 33.29%; the net profit attributable to shareholders was 49.1 billion yuan, a year-on-year increase of 105.78%; earnings per share were 3.08 yuan, a year-on-year increase of 108.11%. The container shipping business achieved a significant growth of 34.40%, and the supply chain business became a new growth engine.
As of the close on April 7, COSCO Ship Hold's A-shares fell by 10.03% to 12.74 yuan/share, with a total market value of 203.4 billion yuan; COSCO Ship Hold's H-shares fell by 14.87% to 9.96 HKD/share, with a total market value of 159 billion HKD.
