Huadian Power International Corporation (1071) Q4 2024 earnings summary

Executive summary

• 2024 power generation reached 222.63 million MWh, down 0.52% year-over-year; on-grid power sold also fell 0.52%.

• Turnover was RMB112,392 million, a 3.42% decrease from 2023, mainly due to lower power generation and coal trading.

• Profit attributable to equity holders was RMB5,670 million; basic EPS was RMB0.459.

• Board proposes a total annual dividend of RMB0.21 per share (including interim and final), subject to shareholder approval.

Financial highlights

• Operating profit rose to RMB6,622 million, up RMB2,521 million from 2023, mainly due to lower fuel prices.

• Revenue from electricity sales was RMB94,744 million (down 1.46%), heat sales RMB9,743 million (up 1.24%), and coal sales RMB7,905 million (down 25.43%).

• Net cash inflow from operating activities was RMB12,890 million, up from RMB9,460 million in 2023.

• Finance costs decreased 10.91% to RMB3,275 million; income tax rose to RMB1,983 million due to improved results.

• Liabilities to assets ratio stood at 61.03%; total borrowings were RMB92,107 million.

Outlook and guidance

• 2025 electricity generation expected at 210 billion KWh; planned investment of RMB12 billion in new projects and upgrades.

• Focus on cost control, efficiency, and green development; continued emphasis on coal-fired power as national energy security support.

• Anticipates steady macroeconomic growth and a 6% rise in national electricity consumption in 2025.