AviChina Industry & Technology Company (2357) H2 2024 earnings summary

Executive summary

• Revenue grew 2.62% year-over-year to RMB86,971 million, driven by strong helicopter sales, but net profit attributable to owners fell 10.63% to RMB2,187 million due to weaker subsidiary performance.

• The Board recommended a final dividend of RMB0.081 per share, down from RMB0.088 per share last year.

• The company completed major helicopter business integration and raised RMB3 billion in supporting funds, advancing its world-class helicopter enterprise ambitions.

Financial highlights

• Operating profit decreased 13.60% year-over-year to RMB6,042 million, mainly due to lower results from AVIC Airborne.

• Net profit attributable to owners was RMB2,187 million, down 10.63% year-over-year.

• Basic and diluted EPS were RMB0.274, compared to RMB0.311 last year.

• Net cash inflow from operating activities was RMB2,170 million, a significant improvement from a net outflow of RMB4,080 million in 2023.

• Total assets increased to RMB202,044 million, and total shareholders' equity rose to RMB96,648 million.

Outlook and guidance

• Plans to increase investment in helicopter R&D, expand low-altitude economy, and accelerate technological innovation.

• Focus on green aviation, digital transformation, and enhancing shareholder returns.

• Management expects to maintain high-quality development amid global uncertainties in 2025.