Hainan Airlines Holding (600221) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 19.99 billion, up 4.63% year-over-year, with YTD revenue at RMB 51.73 billion, reflecting continued market recovery and increased operational scale.

• Net profit attributable to shareholders for Q3 was RMB 2.81 billion, up 12.60% year-over-year; YTD net profit was RMB 2.17 billion, a 145.43% increase year-over-year.

• Cash flow from operating activities for Q3 was RMB 5.27 billion, up 31.96% year-over-year; YTD operating cash flow was RMB 11.59 billion.

Financial highlights

• Basic and diluted EPS for Q3 were RMB 0.0650, up 12.65% year-over-year; YTD EPS was RMB 0.0503, up 145.37% year-over-year.

• Gross margin improved as operating costs rose at a slower pace than revenue, supporting profitability.

• Total assets at Q3-end were RMB 143.88 billion, up 7.34% from year-end 2023.

• Shareholders’ equity attributable to listed company shareholders increased 88.60% to RMB 4.36 billion.

Outlook and guidance

• Profit growth attributed to aviation market recovery, expanded capacity, and improved route network.

• Management expects continued benefit from refined management and increased business volume.