China Southern Airlines Company (1055) Q1 2025 earnings summary

Executive summary

• Operating income for Q1 2025 was RMB 43,407 million, down 2.68% year-over-year from RMB 44,601 million.

• Net profit attributable to shareholders was a loss of RMB 747 million, compared to a profit of RMB 756 million in Q1 2024.

• The decline in performance was mainly due to shifts in traveler demographics, competition from high-speed rail, global supply chain constraints, and Renminbi depreciation.

Financial highlights

• Net cash flows from operating activities dropped 54.67% year-over-year to RMB 4,432 million.

• Basic and diluted earnings per share were -0.04 and -0.05 RMB, respectively, compared to 0.04 RMB in the prior year.

• Weighted average return on net assets was -2.17%, down from 2.03% a year ago.

• Total assets stood at RMB 330,243 million, up 0.15% from year-end 2024.

• Equity attributable to shareholders decreased by 2.15% to RMB 33,982 million.

Key financial ratios and metrics

• Operating costs for Q1 2025 were RMB 44,225 million, up from RMB 39,725 million in Q1 2024.

• Financial expenses decreased to RMB 1,325 million from RMB 1,539 million year-over-year.

• Net cash used in investing activities was RMB -2,197 million, and net cash used in financing activities was RMB -3,326 million.

• Cash and cash equivalents at period end were RMB 11,892 million.