Bohai Leasing (000415) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥16.18 billion, up 19.24% year-over-year, driven by higher aircraft sales.

• Net profit attributable to shareholders was ¥716 million, up 36.18% year-over-year.

• Aircraft leasing remains the core business, accounting for 80.66% of revenue; container leasing contributed 18.39%.

• Company maintained its position as the world's second-largest aircraft lessor and third-largest container lessor by fleet size.

• No interim dividend, bonus shares, or capital increase from reserves planned for the period.

Financial highlights

• Operating income: ¥16.18 billion, up 19.24% year-over-year.

• Net profit attributable to shareholders: ¥716 million, up 36.18% year-over-year.

• Net profit excluding non-recurring items: ¥532 million, up 255.70% year-over-year.

• Operating cash flow: ¥11.72 billion, down 3.38% year-over-year.

• Basic and diluted EPS: ¥0.1158, up 36.08% year-over-year.

Outlook and guidance

• Global aviation recovery expected to continue, supporting aircraft leasing demand.

• Container leasing market remains robust but faces uncertainties from geopolitical risks and global economic volatility.

• Company will focus on risk management, asset structure optimization, and capital strength enhancement.