Anhui Expressway Company (995) H2 2024 earnings summary

Executive summary

• Revenue rose 6.9% year-over-year to RMB7,091.83 million, while net profit attributable to shareholders increased 0.55% to RMB1,668.98 million.

• Basic earnings per share reached RMB1.0073, up from RMB0.9995 in 2023.

• Toll revenue declined 5.23% year-over-year due to adverse weather, policy exemptions, and traffic diversions.

• Final dividend of RMB0.604 per share proposed, subject to shareholder approval.

Financial highlights

• Operating profit was RMB2,390.63 million, down from RMB2,468.86 million year-over-year.

• Profit before tax was RMB2,226.78 million, a slight decrease from RMB2,263.83 million in 2023.

• Total assets increased to RMB24,452.64 million from RMB21,776.55 million at year-end 2023.

• Total equity attributable to owners rose to RMB13,364.10 million.

• Final dividend paid during the year was RMB996.83 million (RMB0.601 per share).

Outlook and guidance

• Expressway industry expected to benefit from continued economic growth and policy support.

• Intelligent transportation and digitalization initiatives to accelerate, offering new growth opportunities.

• Industry faces challenges from rising costs, policy-driven toll exemptions, and traffic diversions.