Jinwu Financial News | COSCO Haineng (01138) announced that in the first quarter of 2024, it recorded net profit attributable to shareholders of 1,236 billion yuan (RMB, same below), up 12.76% year on year; recorded revenue of 5.838 billion yuan, up 3.68% year on year; and basic earnings per share of 0.2590 yuan.
During the period, the Group achieved a year-on-year increase of 8.8% in tanker capacity; 42.09 million tons of transportation volume (excluding term lease), a decrease of 2.0% year on year; and transportation turnover (excluding term lease) of 1503 million tonnes, an increase of 7.0% year on year.
During the period, the Group's tanker sector achieved operating income of 5.271 billion yuan, an increase of 1.4% year on year; operating costs of 3.687 billion yuan, down 0.3% year on year; gross margin was about 30%, up 1.1 percentage points year on year; among them, foreign trade oil transportation business achieved gross profit of 1,217 billion yuan, up 84.7% month on month; domestic oil transportation business achieved gross profit of 367 million yuan, a decrease of 1% month on month.
During the period, the Group's LNG transportation business contributed 182 million yuan to net profit, an increase of 5% over the fourth quarter of last year.