Anhui Conch Cement Company (914) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was RMB 22.58 billion, down 32.89% year-over-year due to lower sales volume and prices of cement products.

• Net profit attributable to equity shareholders for Q3 2024 was RMB 1.87 billion, a 15.13% decrease compared to the same quarter last year.

• For the first nine months of 2024, revenue was RMB 68.15 billion, down 31.27% year-over-year; net profit attributable to equity shareholders was RMB 5.20 billion, down 40.05%.

Financial highlights

• Basic and diluted EPS for Q3 2024 were RMB 0.35, down 14.77% year-over-year; for the first nine months, EPS was RMB 0.99, down 39.81%.

• Net cash flow from operating activities for the first nine months was RMB 10.35 billion, up 7.15% year-over-year.

• Total assets as of 30 September 2024 were RMB 252.09 billion, up 2.33% from year-end 2023.

• Owners' equity attributable to equity shareholders was RMB 185.50 billion, up 0.06% from year-end 2023.

Outlook and guidance

• Management attributes declines in revenue and profit to lower sales volume and prices in the cement market.