Shanghai International Airport (600009) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 3.17 billion, up 4.72% year-over-year, driven by increased aviation business volume and improved operational efficiency.

• Net profit attributable to shareholders was RMB 519 million, a 34.53% increase compared to the same quarter last year.

• Cash flow from operating activities rose 43.75% year-over-year to RMB 705 million.

• Growth attributed to higher aviation business at both Shanghai airports and increased investment income.

Financial highlights

• Operating income: RMB 3.17 billion, up 4.72% year-over-year.

• Net profit attributable to shareholders: RMB 519 million, up 34.53% year-over-year.

• Basic and diluted EPS: RMB 0.21, up 31.25% year-over-year.

• Operating cash flow: RMB 705 million, up 43.75% year-over-year.

• Total assets at period end: RMB 68.74 billion, down 1.86% from year-end 2024.

Outlook and guidance

• Management expects continued growth in aviation business volume and operational efficiency, supported by recent advertising and duty-free business agreements.