Shaanxi Coal Industry Company (601225) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached ¥40.69 billion, up 10.66% year-over-year; net profit attributable to shareholders was ¥5.39 billion, up 17.10% year-over-year.

• For the first nine months, revenue was ¥125.43 billion, down 1.57% year-over-year; net profit attributable to shareholders was ¥15.94 billion, down 1.46% year-over-year.

• Coal production and sales volumes increased 2.82% and 5.09% year-over-year, respectively, but gross profit declined 8.09%.

Financial highlights

• Q3 basic and diluted EPS were ¥0.56, up 17.10% year-over-year; nine-month EPS was ¥1.64, down 1.46%.

• Operating cash flow for the first nine months was ¥34.74 billion, up 22.01% year-over-year.

• Total assets at Q3-end were ¥2,102.90 billion, up 8.45% from year-end 2023; equity attributable to shareholders was ¥949.31 billion, up 6.32%.

• Gross margin for coal sales declined as sales cost rose 2.46% while revenue fell 1.47% year-over-year.

Outlook and guidance

• Management highlights increased coal production and sales, but notes pressure on gross profit due to higher costs and lower prices.