AECC AVIATION POWER (600893) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥18.55 billion, up 4.35% year-over-year, driven by increased customer demand and product deliveries.

• Net profit attributable to shareholders was ¥594.73 million, down 17.99% year-over-year, mainly due to a decrease in investment income.

• The company remains the only domestic enterprise capable of developing a full spectrum of military aero-engines and maintains a leading industry position.

• No interim dividend or capital reserve to share conversion plan was proposed for the half-year.

Financial highlights

• Operating income: ¥18.55 billion, up 4.35% year-over-year.

• Net profit attributable to shareholders: ¥594.73 million, down 17.99% year-over-year.

• Operating cash flow: -¥10.38 billion, a slight improvement from -¥10.44 billion in H1 2023.

• Total assets: ¥108.15 billion, up 8.38% from year-end 2023.

• Basic and diluted EPS: ¥0.22, down 18.52% year-over-year.

Outlook and guidance

• The company expects continued growth opportunities from national defense and high-quality economic development policies.

• Focus remains on accelerating R&D, digital transformation, and supply chain resilience to support future growth.