China Merchants Port Holdings Company (144) H1 2026 earnings summary

Executive summary

• Revenue rose 13.0% year-on-year to HK$7,297 million for H1 2026, driven by volume growth, improved container mix, and tariff hikes.

• Profit attributable to equity holders increased 6.9% to HK$3,832 million; recurrent profit up 8.6% to HK$3,957 million.

• Interim dividend maintained at HK$0.25 per share, totaling HK$1,050 million.

• Container throughput reached 78.21 million TEUs, up 4.5% year-on-year; bulk cargo volume rose 1.7%.

Financial highlights

• EBITDA grew 11.5% year-on-year to HK$4,607 million.

• Net cash generated from operating activities increased 15.0% to HK$4,069 million.

• Total assets rose 4.7% to HK$185,869 million; net assets attributable to equity holders up 5.4% to HK$116,350 million.

• Net gearing ratio stood at 16.2% as of 30 June 2026.

• Gross profit increased to HK$3,806 million from HK$3,290 million year-over-year.

Outlook and guidance

• Global economic and trade growth expected to slow in H2 2026 amid geopolitical risks and rising trade costs; IMF forecasts 3.0% global GDP growth for 2026.

• Group to focus on lean management, digital transformation, green initiatives, and global network expansion.

• Emphasis on innovation, ESG integration, and operational efficiency to drive sustainable value.