$Carnival (CUK.US)$Over the past five years, revenue reached...
$Carnival(CUK.US$Over the past five years, revenue reached a high of 20.8 billion dollars in 2019, shrank sharply by 50.7% in 2020, continued to shrink sharply by 81.4% in 2021 to 1.91 billion dollars, and recovered to 12.2 billion dollars in 2022, reaching 60% before the pandemic.
Operating profit continued to be lost for the past 3 years. The loss in 2022 was reduced to 3.94 billion yuan, and the net profit was similar. The loss in 2022 was reduced to 6.1 billion yuan.
In the first quarter of 2023 (as of February 28), revenue increased sharply by 1.7 times to 4.43 billion, operating profit loss shrank to 170 million, net profit loss shrank to 690 million, and overall recovery was very rapid.
However, the current debt ratio has reached 88%, with current assets of 7.144 billion yuan, which is lower than current liabilities of 11.088 billion, and the liquidity risk is still very high. What is interesting is that there has been no significant reduction in fixed asset investment recently. It has remained at a level of around 4 billion dollars, and has maintained a fixed asset scale of around 40 billion dollars.
The current situation is still quite risky, so it is possible to open a small number of observation positions.
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