CNOOC ENERGY TECHNOLOGY SERVICES (600968) Q1 2025 earnings summary

Executive summary

• Revenue rose 9.42% year-over-year to RMB 10.07 billion in Q1 2025, with net profit attributable to shareholders up 18.48% to RMB 594 million.

• Cash flow from operating activities improved significantly, narrowing the outflow by 82.41% compared to the same quarter last year.

Financial highlights

• Operating income reached RMB 10.07 billion, up from RMB 9.21 billion year-over-year.

• Net profit attributable to shareholders was RMB 594 million, up 18.48% year-over-year.

• Basic and diluted EPS both increased to RMB 0.0584, up 18.48% year-over-year.

• Total assets at quarter-end were RMB 47.99 billion, down 3.04% from year-end 2024.

• Net cash outflow from operating activities was RMB -184 million, a marked improvement from RMB -1.05 billion last year.

Key financial ratios and metrics

• Weighted average ROE was 2.16%, up from 2.01% year-over-year.

• Net profit margin improved, with net profit attributable to shareholders rising faster than revenue.